Korean Re Confirms 361.9 Billion KRW New Office Building Investment Equivalent to 10.5% of Equity No Share Dilution
Korean Re reinsurance company amended its new facility investment disclosure on April 16 2026 reflecting a change in the investment amount during contract negotiations.
The total investment excluding VAT was reduced from 362.638 billion KRW to 361.971 billion KRW a decrease of 0.667 billion KRW with VAT inclusive amount at 398.168 billion KRW.
The investment is for constructing a new headquarters building at 68 Jongno 5-gil Jongno-gu Seoul with 21 floors above ground and 8 floors below total floor area 112786 square meters from May 4 2026 to July 19 2030.
This capital expenditure represents 10.5 percent of equity totaling 3.4529 trillion KRW but since no new shares or convertible bonds are issued existing shareholders face zero dilution.
The purpose is to enhance work efficiency and improve the working environment through a new office building focusing on long-term asset value and operational cost savings rather than short-term profit.
The investment covers only construction and ancillary costs excluding IT infrastructure consulting fees and civil complaint handling with possible adjustments based on price changes or design modifications.
[AI Summary]Korean Re commits 361.97 billion KRW in internal funds for its new headquarters representing 10.5 percent of equity with no share dilution supporting stable shareholder returns. This productive capital allocation strengthens long-term asset base and operational efficiency without immediate impact on stock price while maintaining robust financial soundness.
KOSPI Filing Information
[Correction of Description] Investment in New Facilities, etc.