The trading arm of Samsung C&T Corp., the parent company of South Korea’s Samsung Group, will relocate to Samsung headquarters building on Taepyeong-ro in Jung District, central Seoul, in November, marking a historic return after 25 years. Samsung C&T left Samsung’s main building in the aftermath of the 1998 Asian financial crisis.

According to sources on Monday, Samsung C&T’s trading unit is in the process of relocating from its current office in Jamsil, southern Seoul, to the Taepyeong-ro headquarters building. The relocation is expected to be completed by mid-November.

“The plans for the relocation of our headquarters were decided earlier this year and have been confirmed through the board’s meeting,” said a company official. “The relocation process is underway and it appears that all employees will begin working at the Taepyeong-ro headquarters from November 13.”

Established in by the late Samsung Group Founder Lee Byung-chull as Samsung Sanghoe, Samsung C&T is the conglomerate’s original and foundational company. The Taepyeong-ro headquarters holds deep historical and symbolic significance for Samsung C&T.

From the time the headquarters building was constructed in 1976, Samsung C&T had been situated in the building for 25 years, during a pivotal era when Samsung Group ascended to become Korea’s leading conglomerate.

This marks the fifth relocation for Samsung C&T’s trading unit. In 1998, in the aftermath of the Asian financial crisis, Samsung sold the building and moved to an adjacent building. In 2002, the division relocated to Seongnam, Gyeonggi Province. It departed from the Taepyeong-ro building after vacant space became available at the Samsung-owned Bundang Samsung Plaza.

In 2008, with the completion of Samsung’s Seocho Building, the trading arm moved to Seocho Building B, following its merger with the construction division in 1995.

In 2016, as part of Samsung Group’s efforts to streamline operations for greater efficiency, Samsung C&T relocated to its current office in Jamsil.

The Samsung headquarters building was acquired by Samsung Life Insurance in 2009 after Samsung Electronics moved to its Seocho-dong office.

By Pulse

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