'Koramco The One REITs' Featuring Yeouido Buildings to List on KOSPI in March

Core Office Assets Scheduled for Continuous Inclusion

[Asia Economy Reporter Minji Lee] With the effectiveness of the securities registration statement for ‘Koramco The One REIT,’ managed by Koramco Asset Trust, taking effect on the 4th, its listing on the KOSPI in March has been officially confirmed.

Koramco The One REIT is a planned listed REIT that holds the ‘Hana Financial Investment Building,’ a landmark building in the Yeouido financial special district, as its underlying asset. It is Koramco Asset Trust’s first perpetual office REIT.

Koramco Asset Trust previously listed ‘E-Land Retail REIT Co-Kleb,’ which manages five outlets ranked in the top 10 in sales of E-Land Retail in 2018, and in 2020, ‘Koramco Energy REIT,’ a land platform based on 187 Hyundai Oilbank gas stations nationwide. Among domestic REIT managers, Koramco Asset Trust is the only one operating more than three listed REITs.

The Hana Financial Investment Building, chosen as the first investment target of Koramco The One REIT, is a prime office building with 5 basement floors and 23 above-ground floors, adjacent to Yeouido Station, a transfer station between subway lines 5 and 9, with a total floor area of 69,800㎡ (approximately 21,100 pyeong). Since its completion, global companies such as Hana Financial Investment and its affiliates, 3M Korea, and Intel Korea have been tenants, maintaining a vacancy rate below 1%, making it a stable asset. Additionally, the building’s floor area ratio is 580%, which is lower than the legal limit of 800%, indicating potential for future vertical or horizontal expansion or annex construction.

Koramco Asset Trust plans to continuously increase profitability by adding more domestic prime office assets based on the stable operation of the Hana Financial Investment Building. Currently, about KRW 9 trillion, which exceeds half of the REIT AUM managed by Koramco Asset Trust, consists of office building assets, and these assets are potential candidates for inclusion in Koramco The One REIT. Through this, the company aims to secure growth and profitability and develop it into a leading traditional office listed REIT in Korea.

Yoon Jang-ho, head of Koramco Asset Trust, stated, “Koramco The One REIT will be a symbolic REIT that consolidates the office management strategies Koramco has built over the past 20 years. We will continuously add core office buildings in major domestic areas to achieve economies of scale and develop it into a perpetual, traditional office listed REIT representing not only Koramco Asset Trust but also Korea.”

Following the effectiveness of the securities registration statement, Koramco The One REIT will conduct institutional demand forecasting on February 21?22, general subscription on March 2?3, payment on March 7, and then apply for listing on the Korea Exchange’s KOSPI market within March. The lead underwriters are Samsung Securities and Hana Financial Investment Securities.

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