The Korea Teachers Pension, the nation’s No. 2 retirement pension, said it will invest 45.2 billion won ($38 million) in the building of Samsung Fire & Marine in southern Seoul.
The investment will be made through KB Real Estate Trust’s real estate investment vehicle REITs, the pension said in a statement.
National Pension Service (Yonhap)
The building of the nation’s top nonlife insurer is on Teheranno, a street in the affluent Gangnam district.
The pension said it expects to reap a 7.5 percent annual return out of the investment in the building.
The Korea Teachers Pension managed about 12. 9 trillion won in financial assets out of a total 16.3 trillion won in assets as of the end of March. About 300,000 private school teachers and employees are members of the Korea Teachers Pension.
By Kim Yoon-mi (yoonmi@heraldcorp.com)