Hines Opens Office in Jeonju, South Korea

(JEONJU) - Hines, a leading global real estate investment manager, today announced the opening of a new office in Jeonju, South Korea. This strategic expansion reflects Hines' commitment to strengthening its partnership with South Korea's National Pension Service (NPS) and helping to foster the development of Jeonju's financial sector.

The Hines Jeonju office will be the primary liaison center for NPS-related work in South Korea and globally, enabling Hines and NPS to deliver long-term value to their stakeholders.

Hines' longstanding partnership with NPS, one of the world's largest pension funds, extends worldwide through discretionary private funds, separate accounts, and various large-scale real estate development joint ventures.

"Establishing our Hines Jeonju office is a testament to our enduring partnership with NPS and highlights our unwavering commitment to client-centricity," said David Steinbach,global chief investment officer at Hines. "We are privileged to support Jeonju's vision of becoming a financial hub in South Korea and to contribute to its ongoing development."

"The opening of this liaison office lays the foundation for closer collaboration with Hines," said Kim Tae-hyun, chairman and CEO at NPS. "Based on our nearly 15 years of partnership with Hines, we look forward to contributing together towards the growth of the local Jeonju community and the development of its financial services industry."

The new office allows Hines to provide closer collaboration and more strategic support to NPS, including on investment management advice and capital market research and analysis.

Hines has been active in South Korea since 2013, when its first investment management office opened in Seoul. Expanding in 2021, Hines now also focuses on development, acquisitions, and asset management in the country, managing a diverse portfolio worth about US$1.5 billion and covering over 200,000 square meters¹ across office, industrial and logistics, and mixed-use sectors.

About Hines

Hines is a leading global real estate investment manager. We own and operate $93 billion² of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 31 countries draw on our 67-year history to build the world forward by investing in, developing, and managing some of the world's best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹ As of 30 June 2024.

² Includes both the global Hines organization and RIA AUM as of June 30, 2024.

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