Koramco and Bomi Construction Join Forces for Trust-Based Development Projects

Published 20 Aug.2025 16:10(KST)

On August 20, Koramco REITs & Trust signed a strategic business agreement with Bomi Construction covering all aspects of real estate development and trust business. The signing ceremony was held in the main conference room at Koramco’s headquarters in Samseong-dong, Gangnam-gu, Seoul, with key executives from both companies in attendance.

Through this agreement, the two companies will jointly seek new development opportunities, including redevelopment projects, and establish a close cooperative system across all stages of business, such as project planning, financial procurement, licensing, construction, and sales. They also agreed to strengthen cooperation in ESG management and social contribution activities to create a sustainable real estate development model.

Recently, Koramco has established its position in the trust-based redevelopment sector by securing 19 redevelopment projects in the Seoul metropolitan area and successfully completing five of them. The company is differentiating itself from competitors by winning small-scale reconstruction and redevelopment projects in traditional affluent areas such as Bangbae, Hannam, and Cheongdam.

Bomi Construction is shifting its business structure from a focus on project financing (PF) to contract-based projects, building a stable portfolio. The company is diversifying its business by winning contracts such as the construction of the Kendall Icheon Logistics Center and the Gaewoonsan street housing redevelopment project in Seongbuk-gu, Seoul.

Lee Choongseong, CEO of Koramco REITs & Trust, stated, "This agreement will serve as an important opportunity to create new value by combining Koramco’s expertise in trust-based redevelopment projects with Bomi Construction’s efficient and rapid construction capabilities. We will continue to discover high-quality development projects and seek development models that can coexist with local communities."