Hana Financial Group is spearheading a $3.4 billion project financing initiative for a private investment project to develop a complex facility around the Jamsil Sports Complex in Seoul.
On July 30, Hana Financial announced its plans to secure financing for the 'Jamsil Sports and MICE Complex Development Project.'
The project will cover approximately 350,000 square meters around the Jamsil Sports Complex, featuring exhibition and convention facilities, a dome baseball stadium, a sports complex, as well as lodging, commercial, and office spaces.
Hana Financial formed a consortium with Hanwha's construction division and IPARK Hyundai Industrial Development, and was selected as the preferred bidder in December 2021. After nearly four years and seven months, the implementation agreement has now been signed.
Hana Securities will act as the lead financial arranger and a financial investor for the Seoul Smart MICE Park, while Hana Bank will participate as a co-financial arranger. Hana Financial has completed the formation of a lending group for financing.
The project will proceed through related procedures, including the approval of the implementation plan. Hana Financial plans to provide phased financial support as the project advances.
Kang Seong-mook, Vice Chairman of Hana Financial Group, stated, "This is a collaboration that combines the expertise of Hana Securities and Hana Bank. We will leverage the group's investment finance capabilities to ensure the stable advancement of this large-scale private investment project."
On July 30, Hana Financial announced its plans to secure financing for the 'Jamsil Sports and MICE Complex Development Project.'
The project will cover approximately 350,000 square meters around the Jamsil Sports Complex, featuring exhibition and convention facilities, a dome baseball stadium, a sports complex, as well as lodging, commercial, and office spaces.
Hana Financial formed a consortium with Hanwha's construction division and IPARK Hyundai Industrial Development, and was selected as the preferred bidder in December 2021. After nearly four years and seven months, the implementation agreement has now been signed.
Hana Securities will act as the lead financial arranger and a financial investor for the Seoul Smart MICE Park, while Hana Bank will participate as a co-financial arranger. Hana Financial has completed the formation of a lending group for financing.
The project will proceed through related procedures, including the approval of the implementation plan. Hana Financial plans to provide phased financial support as the project advances.
Kang Seong-mook, Vice Chairman of Hana Financial Group, stated, "This is a collaboration that combines the expertise of Hana Securities and Hana Bank. We will leverage the group's investment finance capabilities to ensure the stable advancement of this large-scale private investment project."
* This article has been translated by AI.
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