Mastern to expand middle market business in US

Joseph Oh, CEO of Mastern America (left) and Tae Moon, founder and CEO of Koriny, pose for photos after signing a partnership agreement in Seoul. (Mastern Investment Management)

Mastern America, the US arm of Mastern Investment Management, said Tuesday it has signed a strategic alliance agreement with New York-based property tech firm Koriny to expand its presence in US middle market properties.

Under the partnership, Mastern hopes to offer investors a chance to invest in the US middle market, which refers to a market for office, retail, industrial properties with a market value below about 100 billion won ($77 million).

Koriny, which has its Korean office in Yeouido, western Seoul, operates a platform that provides all-in-one services for both housing and commercial property transactions in the US.

Working with Koriny, Mastern said it plans to diversify its business portfolio by offering market analysis and asset management services not just for institutional investors but also for wealthy individual clients.

“Cooperating closely with Koriny, we will work on figuring out customer needs from high net worth individuals, business owners, private bankers, and more to expand our business to cover smaller-sized properties in the US market,” said Mastern America CEO Joseph Oh. "In future, we will expand the scope of fundraising to the whole of Asia," he said.

By Im Eun-byel(silverstar@heraldcorp.com)