SINGAPORE, 19 August 2021: JLL Hotels & Hospitality Group announced, Wednesday, the opening of its South Korea advisory and investment services office in Seoul.
JLL becomes the first international advisor to offer a dedicated hospitality real estate practice in South Korea, which currently stands as one of Asia Pacific’s most active hospitality markets.
JLL vice president Min Joon (MJ) Kim will lead the South Korea Hotels & Hospitality practice, delivering advisory, asset management, and investment sales services for the hospitality sector. He will also assist in directing Korean outbound capital as Korean institutional capital becomes increasingly important globally.
Most recently, MJ was a Manager at Ernst & Young’s Real Estate strategy and transactions team in Los Angeles.
JLL says the decision to establish a dedicated presence was driven by heightened activity in the South Korean market and interest from domestic and international investors.
South Korea is ranked fourth in terms of hotel transaction volume in the Asia Pacific, with USD1.4 billion transacted in 2019 and USD770 million in 2020. JLL analysis also shows that investment volumes in South Korea reached USD849 million in 1H 2021, a year-on-year increase of over 55%.
