Newmark Strengthens South Korea Services with Key Hires Across Retail and Industrial & Logistics

Why It Matters

The expanded Korean team positions Newmark to capture a rapidly growing cross‑border CRE market, enhancing its competitive edge against global rivals and diversifying its revenue streams.

Key Takeaways

• Newmark adds seven senior hires to South Korea office.
• Team covers industrial, logistics, and retail transaction services.
• Hires bring over a decade of Korean market expertise.
• Expansion targets growing cross‑border real‑estate demand in Seoul.
• Strengthens Newmark’s competitive position against global CRE firms.

Pulse Analysis

South Korea’s commercial real‑estate sector is entering a phase of rapid transformation, driven by a surge in e‑commerce logistics, urban redevelopment, and a resurgence of premium retail spaces in Seoul’s high‑street corridors. According to industry reports, logistics vacancy rates have fallen below 5 % in the past year, while retail landlords are seeking tenants that can blend experiential concepts with digital integration. Global firms are racing to capture this momentum, and Newmark’s recent launch of a dedicated Seoul office positions it to compete for both domestic and cross‑border deals.

The Korean hires announced on April 16 bring a blend of valuation, investment and transaction expertise that directly addresses those market trends. Senior Director Jihoon Kang, with more than 14 years at Colliers International Korea and Mirae Asset Consulting, will lead the industrial‑and‑logistics team, supported by Minsung Kim, Junyoon Lee and Subin Choi, whose portfolios span acquisitions, leasing and development of manufacturing assets. In retail, Eddie Oh, Reina Kawakami and Evelyn Choi add deep experience in high‑street leasing, tenant representation and brand‑led expansion, enabling Newmark to deliver end‑to‑end solutions for multinational clients entering Korea.

From a strategic standpoint, the expansion reinforces Newmark’s ambition to grow its global footprint beyond the traditional North American stronghold. By establishing a full‑service transaction platform in Seoul, the firm can tap into the estimated $45 billion of cross‑border CRE investment pipeline projected for East Asia through 2028. The added talent also helps Newmark compete with rivals such as CBRE and JLL, which have already deepened their Korean operations. If the new team secures even a modest share of the market, it could contribute several hundred million dollars to Newmark’s 2026 revenue outlook, further diversifying its earnings base.