Eugene REITs Management, an Affiliate of Eugene Group, Obtains Approval to Establish AMC

Combining Financial Functions with a Developer-Centered Approach

Eugene REITs Management, an affiliate of Eugene Group, announced on the 23rd that it has obtained approval from the Ministry of Land, Infrastructure and Transport to establish a REITs AMC (Asset Management Company).

Eugene Group has been seeking to enter the REITs market since the first half of last year. In February of this year, Eugene Hanil Synthetic Fiber, a textile affiliate, made a new investment of 7 billion KRW. With the approval to establish the AMC, Eugene REITs Management is expected to become a wholly owned subsidiary.

With this approval, Eugene REITs Management plans to accelerate its transformation into a high value-added industry by combining financial functions with its developer-centered business structure.

Eugene Group intends to diversify its business portfolio by adding real estate finance to its existing business structure. In particular, the group aims to secure a long-term profit base through REITs and to promote its business in a systematic and speedy manner.

A Eugene Group representative stated, "By obtaining REITs AMC approval for Eugene REITs Management, we will expand the group's business areas and contribute to the development of the domestic REITs industry," adding, "We plan to introduce REITs products with a stable profit structure and establish ourselves as a trusted developer in the market."

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