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CCB acquires prime commercial real estate in Seoul

By Zhu Wenqian | China Daily | Updated: 2014-12-16 07:23

State-owned China Construction Bank Corp has become the first Chinese lender to buy a single office building in Seoul, the South Korean capital, in a deal worth 300 million yuan ($48.5 million), the Seoul office of the bank has confirmed.

The deal to acquire the 12-story Tongyang Life Insurance building was agreed in October and marks the first major expansion in the city by a leading Chinese organization.

Located on an avenue called Euljiro in downtown Seoul, the building is near the main offices of many Korean multinational corporations and financial institutions.

CCB acquires prime commercial real estate in Seoul

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