London-headquartered M&G’s real estate arm has appointed a new head of Korea.

M&G Real Estate has promoted Daniel Cho to head of Korea, according to a statement. Based in Seoul, he reports to Jing Dong Lai, chief executive officer and chief investment officer of M&G Real Estate Asia. Cho succeeded Ryu Hyesik, who is leaving the firm to pursue personal projects.

Cho has over 15 years of industry experience and was most recently the director of acquisitions at M&G Real Estate in Korea. Prior to that, he worked at KKR, Mapletree and Ascendas.