[THE INVESTOR] South Korea's retail giant Eland has put up real estate in Seoul for sale, as it seeks to reduce its debt-equity ratio.

On Aug. 9, Eland put up two plots in western Seoul, and a commercial property in Gangnam area for sale. The company had initially planned to build hotels in the two plots in western Seoul. 



The combined minimum bid price for the three properties is 300 billion won (US$272.47 million).

The company said that the decision is unrelated to its efforts to improve finances, but aimed at streamlining its businesses.

By Choi He-suk (cheesuk@heraldcorp.com)