Shinhan Financial Group and Logisvalley Promote Establishment of 'Logistics Center Real Estate Investment Company'
Jung Geun-su, CEO of Shinhan Financial Group GIB Business Group, Yoon Geon-byeong, CEO of Logis Valley, and Namgung Hoon, CEO of Shinhan REITs Management, are posing for a commemorative photo after signing a business agreement.
View original image[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group's GIB Business Group and Shinhan REITs Management announced on the 14th that they signed a business agreement with Logisvalley at Logisvalley's headquarters located in Seongnam, Gyeonggi Province, to establish a real estate investment company.
Logisvalley is a logistics-specialized group established by logistics center development and construction specialist company Seonkyung ENC, along with Hanaro TNS, Cheonma Logistics, Bow System, Logisvalley SLK, and Woojin Global Logistics, all experts in various logistics fields.
In particular, Logisvalley provides total services covering the entire logistics process, from development areas such as logistics center site selection, design, and construction to logistics operations including logistics equipment, automation systems, and fulfillment. Recently, it launched a 'fast delivery' service, offering customers the best professional logistics services.
Through this business agreement, Shinhan Financial plans to establish a real estate investment company specializing in investing in logistics centers owned by Logisvalley in the 2nd to 3rd quarters of this year. Additionally, after incorporating logistics centers currently under development or planned for development, it aims to list a logistics center specialized investment REIT on the KOSPI market by the second half of 2022.
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A Shinhan Financial official stated, "Through the 'Shinhan Neo Project,' which is being promoted to support the success of the Korean New Deal, Shinhan Financial is establishing a financial support system related to the smartization of the domestic construction industry using 4th industrial revolution technologies such as smart cities and smart logistics." He added, "Through this business agreement, Shinhan Financial and Logisvalley will jointly create a reliable and stable logistics center specialized real estate investment company."
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