Koramco Trust Partners with Shinsegae Property to Develop 170 Gas Stations

Transformation into a 'Mobility-Retail Complex Center'
Part of Strategy to Achieve 50% Asset Value Increase Within 5 Years
Financial Partnership Agreement with Samsung and NH Investment & Securities... Accelerating Development Project

Rendering of the Mobility-Retail Complex Center developed by Koramco Energy REIT in partnership with Shinsegae Property

[Asia Economy Reporter Lim Jeong-su] Koramco Trust’s Koramco Energy Plus REIT (Koramco Energy REIT) is promoting a project to develop its gas stations into ‘mobility-retail complex centers.’ Shinsegae Property, the distribution developer of the Shinsegae Group, is taking a leading role in this project.

Koramco Energy announced on the 15th that it signed a business agreement with Shinsegae Property to jointly develop gas stations nationwide. This REIT, listed on the KOSPI, operates 170 gas stations and associated commercial facilities located in major hub cities across the country. Recently, through its ‘Vision 2025,’ it announced a growth roadmap to increase its current asset size of 1 trillion KRW by more than 50% within the next five years. This agreement is a follow-up measure to Vision 2025, aimed at enhancing the effectiveness of the gas station development project, which is a core strategy to increase asset value.

Shinsegae Property is a real estate developer affiliated with the Shinsegae Group that develops and operates Starfield shopping malls nationwide. It will oversee the development of the mobility-retail complex centers for Koramco Energy REIT. Shinsegae Property is expected to be responsible for all development tasks, including concept planning, feasibility review, design, construction, and progress management.

The mobility-retail complex centers will be developed as regional community platforms that provide a combination of F&B retail and entertainment content based on ‘last mile’ urban logistics centers located at key urban hubs. Through the development of regional hub urban logistics centers, Shinsegae Property can demonstrate its capabilities as a developer, while the REIT can increase the value of its assets and maximize investment returns.

Additionally, Koramco Energy REIT signed financial partnership agreements with Samsung Securities and NH Investment & Securities. Going forward, financial partners will efficiently handle asset sales, loans, and rights offerings related to development projects of Koramco Energy REIT’s assets through advisory and structuring services. This creates an environment that enables rapid execution of asset management, development, financing, and structural design.

Yoon Jang-ho, Executive Director of Koramco Asset Trust, said, “This agreement is part of Koramco Energy REIT’s growth roadmap, Vision 2025, and aims to accelerate the realization of the vision together with the best partners in retail development and financial structuring. We will set an example of a sustainable growth REIT by delivering results that exceed investors’ expectations.”

This content was produced with the assistance of AI translation services.