Hana Financial Group to Spearhead 4 Trillion Won Financing for Jamsil Sports Complex Redevelopment

Hana Securities and Hana Bank are leading a significant 4 trillion won project financing (PF) initiative to develop a massive complex in Seoul's Jamsil Sports Complex area. The project aims to transform approximately 350,000 square meters into a hub featuring a domed baseball stadium, convention and sports facilities, as well as commercial and business spaces.

This ambitious undertaking is structured as a public-private partnership. Seoul City and the designated project operator, Seoul Smart MICE Park (a special purpose company to be established), recently signed an implementation agreement, paving the way for the project's advancement. Hanwha Construction Division will serve as the lead company for Seoul Smart MICE Park, with various construction, operation, and financial investors participating.

Hana Financial Group highlighted that this initiative aligns with its 'One IB' collaborative strategy, pooling the strengths of Hana Securities and Hana Bank for financial structure design and PF fundraising. Hana Securities will act as the financial investor and lead financial arranger for Seoul Smart MICE Park, while Hana Bank will be a joint financial arranger. The consortium for financial procurement has already been finalized.

The project's origins trace back to December 2021 when the '3H Consortium,' comprising Hana Financial Group, Hanwha Construction Division, and I-Park Hyundai Development (formerly HDC Hyundai Development), was selected as the preferred bidder. The recent signing of the implementation agreement marks a crucial step forward after the initial selection.