Personal Diary - Real Estate Project Finance

in project •  2 months ago

This diary is personal. I don't intend to provide a well organized information to anyone, but just to record my memory about the project finance in Korean real estate industry.

Having worked in Korean local RE boutique, the chance of utilizing English or any other language that I speak is really limited. I use this channel to primarily retain my ability to write and think in English, and study how to express the Korean RE PF terminology and logic in English.

I mainly work with the local Korean RE development deals, but also pursue the ways to participating in outbound deals. This is really difficult for mid size local boutiques in Korea, not only because the opportunity to secure the foreign investment deal requires tremendous effort to persuade the risk committee regarding all the hassles through currency risks, legality of collateral, and etc but also it requires reasonable amount of books. (Can anyone comment me about how the western IBs call their books? I mean if I'm using the word differently from the western IBs. The book in Korean IB means the amount of capacity that the bank can use to engage in an investment/lending activity.)

The spider web-like finance legislation also plays a huge role in why many Korean financial institutions cannot play an active role in international PF scene, despite the fact that liquidity overflows.

Honestly from my experience, I've never seen a PF in development of real estate in other countries. Most of the projects hoovering in Korean IB market are the transaction deals(plz correct me, cuz i dont know the terminology... what I mean by the transaction deal is the buying and selling activity of already built buildings such as prime office.

I really want to stand on my own later on, becoming a key developer who can develop the hot spots in 3rd world countries like South East Asia, Latin America, or Africa. In order to do so, I seriously feel that I need to keep studiyng and eye-witnessing how the RE proejcts are closed with non-Korean financial entities.

I will wrap up today without much details of how my RE PF works are done in Korean RE industry, but I intend to keep on writing the post about this subject.

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