Kiwoom Securities Strengthens Real Estate Finance with Koramco Asset Trust through MOU
[Asia Economy Reporter Park Jihwan] Kiwoom Securities announced on the 31st that it signed a Memorandum of Understanding (MOU) with Koramco Asset Trust at Kiwoom Finance Square to strengthen competitiveness in real estate development finance.
The signing ceremony was attended by key officials from both companies, including Kiwoom Securities CEO Lee Hyun and Koramco Asset Trust CEO Jeong Junho.
The two companies will engage in △ strategic cooperation related to real estate development finance △ seeking synergy with financial affiliates △ expanding business areas and management pools in alternative investment sectors △ financial support and cooperation related to the acquisition of tangible real estate. The two companies aim to enhance industry recognition and strengthen market dominance by leveraging Kiwoom Securities' extensive investor network and Koramco Asset Trust's domestic and international real estate finance expertise.
Kiwoom Securities acquired a 9.9% stake in Koramco Asset Trust from Hanwha Investment & Securities in 2018. It participated in a rights offering last year and currently holds an 11.58% stake, making it a major shareholder of Koramco Asset Trust. This is the first time the two companies are pursuing business cooperation.
Since CEO Lee Hyun took office in 2018, Kiwoom Securities has expanded its existing IB division into three divisions: Corporate Finance, Structured Finance, and Project Investment, actively entering not only traditional IB but also real estate finance-related businesses. Since establishing the real estate finance organization, it has continuously expanded its scale, building capabilities in various fields such as development project equity investment, real estate PF, tangible asset acquisition, and HUG guarantees.
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Lee Hyun, CEO of Kiwoom Securities, stated, "Through this MOU, we aim to establish a cooperative relationship for mutual development with Koramco Asset Trust and further seek strategic cooperation across all areas related to real estate development finance. We expect that both companies will be able to generate synergy effects."
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