Koramco and Seoul Livestock Agricultural Cooperative Sign Business Agreement to Strengthen 'Funding' Synergy

Cooperation in Real Estate Trusts and Fund Management
Reducing Financial Uncertainty

Koramco Asset Trust announced on the 28th that it has signed a business agreement with Seoul Livestock Cooperative (hereinafter referred to as ‘Seoul Chuksan Nonghyup’) to strengthen the overall stability of trust fund procurement for ‘mutual development and activation of real estate finance and real estate trust.’

The business agreement ceremony held at the main auditorium of Seoul Chuksan Nonghyup NH Seoul Tower in Deungchon-dong, Gangseo-gu, Seoul, was attended by a large number of key executives from both companies, including Koramco’s Lee Choong-sung, Head of the Trust Division, and Seo Yong-dae, Executive Director of Credit at Seoul Chuksan Nonghyup.

This agreement mainly focuses on Koramco and Seoul Chuksan Nonghyup sharing their expertise and core competencies to mutually cooperate in areas such as real estate-related loans and fund management. Additionally, they will explore ways to practice ESG management and social contribution activities together, with Koramco contributing to regional community development and Seoul Chuksan Nonghyup expanding the base for real estate investment.

Koramco is a real estate finance company engaged in real estate trusts, REITs, and real estate funds. In 2015, it secured the country’s first trust-based maintenance project, the ‘Anyang Hogye-dong Reconstruction Project,’ which was completed in about 40 months. Currently, it has completed the highest number of four maintenance projects among domestic real estate trust companies and holds approximately KRW 8.2 trillion in cumulative trust assets as of the end of last year. Recently, it has been restructuring its business to focus on low-risk non-borrowing types such as responsibility-guaranteed trust projects and general management trusts.

Seoul Chuksan Nonghyup aims to improve the social and economic status of livestock farmers through livestock industry guidance, livestock product distribution, compound feed processing, and credit services, while transforming into a comprehensive financial institution by providing consumers with fresh livestock products and diverse, convenient financial services. Last year, it secured approximately KRW 4.1082 trillion in mutual finance deposits, becoming the first agricultural cooperative nationwide to surpass KRW 4 trillion, making it the largest agricultural cooperative in Korea.

Lee Choong-sung, Executive Director and Head of the Trust Division at Koramco Asset Trust, said, “Through the business agreement with Seoul Chuksan Nonghyup, we will strengthen the overall stability of real estate trust operations and eliminate uncertainties in fund procurement related to development projects. Furthermore, we will combine the capabilities of both companies to create opportunities for mutual growth with the local community.”

Seo Yong-dae, Executive Director of Credit at Seoul Chuksan Nonghyup, said, “This business agreement with Koramco Asset Trust, the country’s top trust company, will be an opportunity for mutual development of both companies. We will do our best to activate real estate trusts and provide financial services as a financial institution for ordinary citizens by sharing Koramco Asset Trust’s expertise in real estate finance and development projects.”

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