
Daniel Cho, M&G Real Estate’s new head of Korea
M&G Real Estate, the property division of London-based investment manager M&G, has elevated Daniel Cho to lead its Korea business, where he will spearhead growth initiatives and deal-sourcing in the country.
Seoul-based Cho takes over the top spot in Seoul with the UK firm from Ryu Hyesik, who is leaving to pursue personal projects, according to a release on Wednesday.
Cho will report to Jing Dong (JD) Lai, chief executive and chief investment officer of M&G Real Estate Asia, and will also work closely with Peter Kim, head of M&G Investments’ Korea branch office, to further develop and deepen key relationships in the market.
“I am honoured to lead M&G Real Estate’s team in Korea, a market with immense potential,” Cho said. “Leveraging the dynamism of the Korean real estate market, as exemplified by Seoul’s robust office sector, which stood out globally in 2023 with the tightest office vacancy rates and the most resilient yields.”
Cho’s promotion is part of M&G’s effort to “strengthen and intensify engagement in the Korean real estate market”.
15-Year Veteran
With 15 years of industry experience, Cho joined M&G Real Estate in September 2022 as director of acquisitions for Korea, where he was involved in sourcing and executing both on and off market transactions.

JD Lai, M&G Real Estate Asia’s chief executive and chief investment officer
Prior to joining M&G, Cho was part of KKR’s Asia real estate team, where he managed the firm’s Korea portfolio, after previously serving as head of Korea investments at Singapore’s Mapletree and as an investment manager at Ascendas (now part of CapitaLand).
“We are delighted to promote Daniel to lead our real estate team in Korea,” Lai said. “His extensive industry experience, coupled with his strong track record of driving successful real estate transactions, will be invaluable as we continue to expand our presence in the Korean market.”
Cho holds a master of professional studies degree in real estate and an MBA from Cornell University, as well as a bachelor of business administration from Korea’s Yonsei University.
Increased Engagement in Asia
M&G managed £332.8 billion ($423 billion) in global assets as of June 2023, while M&G Real Estate, the property investment unit of the firm’s private assets and alternatives division, managed £33.9 billion ($43 billion) in global assets at the same point in time.
M&G’s A$107 million ($70.8 million) sale of a western Sydney logistics complex to industrial heavyweight ESR in November is the most recent of several Asia Pacific deals which the company was involved in last year.
In February 2023, M&G completed its purchase of four Singapore car showrooms from auto distributor Jardine Cycle & Carriage in a sale-and-leaseback transaction worth S$333 million (then $248 million), which marked the city-state’s largest industrial deal in nearly four years.
That Singapore transaction followed M&G’s January 2023 acquisition of an additional one-third interest in ESR’s Ichikawa Distribution Centre in Japan’s Chiba prefecture for JPY 34 billion (then $267 million) under the firm’s Asia core property strategy.
In August, M&G’s Asia Pacific research head Regina Lim told Mingtiandi that the company was redoubling its commitment to logistics and rental residential opportunities in Asia Pacific.
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