Mastern Asset Management Partners with Dongwon Development to Promote Real Estate Development in Busan, Ulsan, and Gyeongnam

Mastern Investment Management has signed a memorandum of understanding (MOU) to collaborate with Dongwon Development, a leading construction company in the Busan, Ulsan, and Gyeongnam (Bu-Ul-Gyeong) region, to jointly promote real estate development projects.

On the 4th, Mastern Investment Management announced that it has formed a strategic partnership with Dongwon Development to jointly develop and invest in real estate in the Busan, Ulsan, and Gyeongnam areas.

Dongwon Development is a top-tier comprehensive construction company specializing in housing, representing the Busan, Ulsan, and Gyeongnam region. In the 2023 Construction Company Performance Evaluation (Civil Engineering and Architecture Construction Business), it ranked 31st nationwide, maintaining the number one position in the Busan area for six consecutive years since 2018. It is a KOSDAQ-listed company with an AAA corporate credit rating and has been selected as one of Forbes' ‘Asia’s 200 Most Promising Companies.’

Under this MOU, both companies agreed to jointly discover and promote real estate development projects. Mastern Investment Management will be responsible for establishing joint development corporations, asset management operations, project planning, obtaining permits and approvals for development projects, and financial management. Dongwon Development will handle investment and construction tasks for the development projects.

Mastern Investment Management will seize development opportunities in the Busan, Ulsan, and Gyeongnam regions by cooperating with Dongwon Development, which has grown into a leading regional construction company over approximately 50 years. Dongwon Development aims to stably advance development projects through Mastern Investment Management’s real estate development expertise and know-how and plans to expand into development projects in the Seoul metropolitan area, including the city center.

The signing ceremony was attended by Mastern Investment Management’s CEO Hong Seong-hyeok, Head of Investment Management Division 2 Kim Chan-gyo, and Head of Development Management Division Shin Jin-ung. From Dongwon Development, Vice Chairman Jang Ho-ik, Namyang Development CEO Jang Jae-ik, and Executive Director Choi Jeong-gyun participated to explore future cooperation directions.

A representative of Mastern Investment Management emphasized, "Mastern Investment Management is a top-tier domestic alternative investment asset manager with development experience and operational know-how across various commercial real estate sectors. We will actively participate in joint development projects, creating synergy with Dongwon Development, the number one construction company in the Busan, Ulsan, and Gyeongnam region."