Luxury imported car sales growth at 5-yr high in S.Korea

Mercedes-Benz, BMW and Porsche have driven the double-digit growth of imported car sales in South Korea in the first seven months of this year, with...

‘Revenge shopping’ lifts Korean retail giants’ Q2 earnings

Major department stores in South Korea such as Shinsegae Department Store and Hyundai Department Store Co. have seen their earnings improve signific...

Shinsegae to invest about $900 mn in department stores

South Korea's retail giant Shinsegae Group will invest 1 trillion won ($866 million) in local department stores this year to reinforce the busines...

Hyundai launches first Genesis EV sedan G80 in Korea

Hyundai Motor Co. said on Wednesday it has debuted a new electric sedan sold under the independent premium brand of Genesis in the Korean market as ...

Chanel, Hermes, LV raise prices in Korea, but sales remain strong

Luxury brands are hiking up prices in South Korea. Designers such as Hermes, Louis Vuitton and Chanel have increased their prices in Korea this year...

Luxury goods platform MUST'IT raises over $10 mn from VC firms

South Korea-based luxury goods platform MUST'IT has secured 13 billion won ($11.7 million) in a bridge round from venture capital firms Kakao Invest...

Lotte Rental kicks off $360 mn IPO process, seeks $1.8 bn valuation

South Korea’s leading rental car company Lotte Rental Co. has kicked off an initial public offering process to raise some 400 billion won ($36...

Shinsegae Group unveils Josun Palace, its first super-luxury hotel

South Korea’s retail giant Shinsegae Group is strengthening its luxury hotel business with the grand opening of Josun Palace in the Gangnam ne...

Korean investors face $270 mn loss on Las Vegas hotel loans

South Korean investors in the Drew Las Vegas development project are at higher risk of losing their investment of 300 billion won ($271 million) in ...

Hyundai rolls out customer-centric luxury SUV GV70

Hyundai Motor Co. has unveiled its brand-new Genesis sport utility vehicle (SUV) model GV70, the latest urban midsize SUV from the South Korean auto...

Mirae Asset wins lawsuit against China’s Anbang over $5.8 bn US hotel deal

Mirae Asset Global Investments Co. will be able to recover a $580 million deposit it paid to Anbang Insurance Group for a $5.8 billion deal to buy 1...

Hyundai’s five-year journey to build a luxury car brand

At Hyundai Motor Co.'s brand launch event held on Nov. 4, 2015, someone made an unexpected appearance on the stage, surprising the crowd. It was curre...

Korean Air to lend $950 mn to US hotel unit for debt repayment

Korean Air Lines Co. will provide $950 million in loans to its fully owned US hotel operator which has $900 million in debt maturing this month, the c...

Mirae Asset scraps $5.8 bn US hotels deal with China’s Anbang

Mirae Asset Global Investments Co. Ltd. notified Anbang Insurance Group on May 3 of its decision to cancel a $5.8 billion acquisition of 15 US luxury ...

Mirae Asset says no financing problem with closing $5.8 bn hotels deal

Mire Asset Global Investments Co. Ltd. has no problem with financing a $5.8 billion acquisition of 15 luxury hotels from Anbang Insurance Group and is...

Mirae Asset says on track to close $5.8 bn US hotels deal

Mirae Asset Global Investments Co. Ltd. remains on track to close a $5.8 billion acquisition of 15 US luxury hotels from China’s Anbang Insuranc...

Hana Fin, Hotel Lotte buy Seattle hotel for $175 mn

Hana Financial Investment Co. Ltd. and Hotel Lotte Co. Ltd. have acquired the hotel portion of a 44-story building in downtown Seattle for $175 millio...

Hana Fin underwrites $145 mn loan on stalled NY hotel project

Hana Financial Investment Co. Ltd. has underwritten a luxury hotel development in New York with a $145 million loan, saving the project from bankruptc...

Hana Alternative sees near 8% IRR on $30 mn US hotel loan

Hana Alternative Assets Management Co. Ltd. has provided a senior loan of $30 million on InterContinental Houston – Medical Center, in a five-ye...

Shinhan provides $100 mn mezzanine loan on Brookfield’s US hotel

Shinhan Investment Corp. has provided a $100 million mezzanine loan on Brookfield’s resort hotel in Florida which recently secured $560 million ...

Mirae Asset in exclusive talks to buy Anbang’s US hotels

Mirae Asset Financial Group has entered into exclusive negotiations to acquire a portfolio of 15 US luxury hotels owned by Anbang Insurance Group, val...

PAG likely to buy Hyatt hotel in Seoul and nearby land for $400 mn

Hong Kong-based investment firm PAG has been named a preferred buyer of Grand Hyatt Seoul and its nearby residential land which are valued at abou...

CVC to buy Korea’s No.2 hotel booking app in $300 mn deal

CVC Capital Partners is set to buy a controlling stake in South Korea’s No. 2 accommodation booking app operator and in separate talks with minority s...

Mirae Asset, NH Investment lend $182 mn on LA hotel, condos

Mirae Asset Daewoo Co. Ltd. and NH Investment & Securities Co. Ltd. have provided $182 million loans on a luxury hotel and condominium development...

KTCU, Meritz Fire invest $100 mn in debt of US hotel-focused REIT

The Korean Teachers’ Credit Union (KTCU) and Meritz Fire & Marine Insurance Co. Ltd. have invested $100 million in a mezzanine loan secured by 92 ...

Three Korean brokerages lend $330 mn on US hotels, resort

Meritz Securities Co. Ltd. has extended a senior loan of $229 million on two new hotels in Nashville, which marked the third biggest construction loan...

Ascendas buys $69 mn Seoul hotel from KTCU-backed fund

Singapore’s Ascendas Hospitality Trust has acquired a hotel in downtown Seoul for 77.5 billion won ($69 million) from a South Korean real estate fund ...

Midas Asset invests $100 mn in US hotel portfolio-backed debt

Midas Asset Management, a small-sized South Korean fund manager, has invested $100 million in a mezzanine debt secured on 53 hotels across the United ...

KB Financial units invest $103 mn in Spain hotel portfolio-backed debt

KB Asset Management Co. Ltd. and other units of South Korea’s top banking group KB Financial Group co-invested 90 million euros ($103 million) in a se...

Hanwha Asset invests $44 mn in Tokyo hotel-backed mezzanine debt

Hanwha Asset Management Co. Ltd. has made its first direct investment in Japan’s commercial property market by underwriting 49.8 billion won ($44 mill...