December 03, 2020

Amorepacific to sell Gangnam building for W160b

PUBLISHED : February 26, 2020 - 15:24

UPDATED : February 26, 2020 - 15:24

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

Cosmetics giant Amorepacific will sell its office building in Nonhyun-dong, within Seoul’s Gangnam district, for 160 billion won ($131.25 million), according to the company’s regulatory filing Wednesday.

The company decided to sell the building to secure liquidity and to improve solvency, the report said. The company added that it planned to sell it by April 29 this year. 

Amore Pacific new headquarters
(Amore Pacific)

The target price accounts for about 2 percent of the cosmetic firm’s total assets as of end-2018.

The company has not chosen a preferred bidder for the building yet. Currently, around 15 companies are considering whether to submit bids, according to industry sources.

The nine-story building, built in 1985, sits on 12,302 square meters near the Gangnam-gu Office and Hakdong subway stations.

By Shim Woo-hyun/The Korea Herald (

  • 페이스북
  • 트위터
  • sms
Herald Corporation|CEO : Kwon Chung Won
Publisher. Editor : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Title : The Investor|Date of registration : 2015.04.28
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099