Koramco Introduces Dual CEO System... "Selection and Focus by Business Division"

Koramco Asset Trust, the leading asset management company in the domestic private REITs market and a pioneer in real estate trust, announced on the 6th that it will transition to a co-CEO system by business division to strengthen responsible management and business expertise.

On the same day, Koramco Asset Trust promoted and appointed President Jeong Seung-hoe as CEO of the REITs and management division, and Vice President Lee Chung-sung as CEO of the trust division. Additionally, Park Hyung-seok, the current CEO of its subsidiary Koramco Asset Management, was promoted and reappointed. This executive appointment plan will be finalized after approval at the regular shareholders' meeting in March next year.

Seung-Hoe Jeong, CEO of REITs and Management Division at Koramco Asset Trust. Provided by Koramco Asset Trust

Jeong Seung-hoe, who will serve as CEO of Koramco Asset Trust’s REITs and management division, joined Koramco Asset Trust in 2015 after serving as head of investment teams at Samsung Life Insurance, Samsung Asset Management, and Samsung SRA Asset Management. Having served as head and division chief of the REITs business headquarters, he is credited with establishing over KRW 18 trillion in new AUM (Assets Under Management) and listing a total of three REITs, contributing to the revitalization of the domestic REITs market and expansion of the investor base.

Lee Choong-sung, Head of the Trust Division at Koramco Asset Trust. Provided by Koramco Asset Trust.

Lee Chung-sung, the appointed CEO of the trust division, is a real estate trust expert with experience at Sungwon Construction and Kukje Asset Trust. He is recognized as a first-generation expert in the trust-type redevelopment projects, which have recently gained attention, and has led the completion of five redevelopment project sites. Koramco is currently showing strong performance in the trust-type redevelopment sector by securing an additional 17 project sites.

Park Hyung-seok, CEO of Koramco Asset Management. Provided by Koramco Asset Trust

Park Hyung-seok, CEO of the subsidiary Koramco Asset Management, is expected to be reappointed. Park is a real estate investment expert who has served as head of real estate investment at Samsung C&T, CBRE Korea, and Orion Partners Korea. Since 2017, he has led Koramco Asset Management as CEO, spearheading the company’s global expansion. Recently, he has also served as the Korean chairman of ULI (Urban Land Institute), a global real estate research organization centered on private and academic sectors established in the U.S., strengthening global networks.

Jeong Seung-hoe, the appointed CEO of Koramco Asset Trust’s REITs division, stated, “Koramco will build a sustainable business model based on system management, enhancing expertise by division and strengthening overseas business divisions, prioritizing investor trust to become a more robust and top-tier real estate finance company.”

Meanwhile, Koramco Asset Trust operates three major businesses: the REITs division, the real estate trust division, and the real estate fund division (Koramco Asset Management), holding approximately KRW 30 trillion in AUM and KRW 9 trillion in cumulative trust assets.

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