by Kwon Haeyoung
Published 26 Apr.2026 11:00(KST)
The consortium consisting of Woori Asset Trust, KB Real Estate Trust, and Shinhan Asset Trust recently signed a memorandum of understanding (MOU) to promote the urban complex development project on the west side of Myeonghak Station in Anyang, the consortium announced on April 26.
The goal of this project is to redevelop the old residential areas and underutilized land in the area west of Myeonghak Station, Manan-gu, Anyang, transforming them into a mixed-use space that combines both residential and commercial functions.
The project site is located near Myeonghak Station on Subway Line 1, making it a transit-oriented area that is also well connected to the existing living zones in downtown Anyang. With convenient transportation and access to nearby commercial and lifestyle facilities, the project is expected to improve the residential environment and contribute to revitalizing the local community.
Through this agreement, the consortium will provide consulting and project management support throughout the project, including reviewing the project structure, preparing financing strategies, and facilitating coordination among stakeholders to establish a practical foundation for project implementation. In particular, by leveraging each company's experience in redevelopment projects, development capabilities, and fund management expertise, the consortium plans to support the stable promotion of the project from its early stages.
Meanwhile, the industry is paying close attention to the expanding role of trust companies in large-scale redevelopment and urban complex development projects. It is evaluated that the participation of trust companies from the early stages can enhance the efficiency of project structure design, fund execution management, and schedule management, while also reducing uncertainties.
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