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[Alpha Biz=(Chicago) Reporter Paul Lee] Most of the KRW 280 billion worth of loans lent by local financial institutions to a landmark office building in Hong Kong four years ago at a low-interest rate are on the verge of not being returned.
According to the financial investment industry on the 16th, Multi Asset Asset Management affiliated with Mirae Asset will hold a collective investment property evaluation committee on the 18th to depreciate 80∼ 100% of the fund's assets created to lend to the Goldin Financial Global Center Building in Hong Kong.
As a result, investors, including corporations, who wanted an annual return of 5%, were forced to lose around 90%.
Earlier, domestic investors, including Mirae Asset Securities, lent KRW 280 billion based on the exchange rate to the building in June 2019 as a medium-ranking (Mezanne).
Mirae Asset Securities created a fund worth 250 billion won and sold it to domestic institutions. Securities firms such as Mirae Asset Securities, Korea Investment & Securities, and Eugene Investment & Securities invested 20 billion ∼ 40 billion won each with their own funds. The Bank of Korea's labor union and Woori Bank's ultra-high-value asset managers are also known to have invested.
Multi-asset Asset Management was in charge of managing the fund.
However, the rest of the investors, including the middle rank, as the Hong Kong billionaire, who guaranteed a rate hike, went bankrupt and building prices plummeted, the Singapore Investment Authority (GIC) and Deutsche Bank, the senior lender, exercised their rights to sell the building and recover the principal.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
