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Hyundai Motor Group bids over $10 billion for Seoul plot

2014-09-18 07:35:16| Automakers - Topix.net

Hyundai Motor Group bid 10.55 trillion won for a plot of land in Seoul's high-end Gangnam district, far higher than expected, beating out Samsung Electronics Co Ltd for the trophy property. The site, which currently houses Korea Electric Power's headquarters, had an appraised value of a little more than $3 billion and was offered in South Korea's biggest single land auction by price.

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