LOCAL real estate group Ray White is reportedly considering investing $100 million in a South Korean real estate development at Gwangyang, on the less developed south-eastern coast of the country (map, right, with Gwangyang highlighted).
The move, part of a continuing low profile expansion into Asia, will see a residential and retail development developed in an area the central government is trying to encourage decentralization out of Seoul.
According to the AFR which reported the Gwangyang proposal in detail, the 2012 Expo is being held at the nearby town of Yeosu. It is in a city where most of Australia’s iron ore exports to South Korea are delivered for use at the Posco steel mill, nearby.
South Korea has long been a large commodities export market.Read more