KB Real Estate Trust (President: Kim, Jeong Min), a unit of KB Financial Group (Chairman: Hwang Young-key) announced on August 9^th that it has successfully acquired ING Tower located in central Gangnam Business District.

The deal is the largest property transaction since the global financial crisis in 2008 and the fourth most expensive following the transaction of Daewoo Building, Gangnam Finance Center, and Seoul Finance Center.

KB Asset Management, a subsidiary of KB Financial Group will be managing the building for the next five years.

KB Real Estate Trust expects to yield annual returns at least 7 percent from rent, management expenses and other business proceeds from the building. In addition, profits could rise to 16 percent a year if the gain from prospective sale of the building is reflected.