Morgan Stanley, KKR Bet on Historic Changes for Korean Renters

KKR & Co. and Morgan Stanley are pouncing on the biggest shift in decades in South Korea’s $153 billion residential rental market that’s presenting a rare opportunity to global institutions.

In the last two months, KKR has bought an apartment block in one of Seoul’s most affluent neighborhoods, while M&G Real Estate announced its first ever residential property investment in South Korea. Morgan Stanley has teamed up with local manager, Gravity, to buy smaller homes.