Koramco REITs Management and Trust, the leading private REITs management company in the domestic market, held its regular shareholders' meeting on the 27th and appointed Jeong Seung-hwa as the chief executive officer of REITs and management, and Lee Chung-sung as the chief executive officer of the trust sector, the company announced on the 28th.
Jeong Seung-hwa joined Koramco REITs Management and Trust in 2015 after serving as the head of investment teams at Samsung Life Insurance, Samsung Asset Management, and Samsung SRA Asset Management. He has set up over 18 trillion won in new Assets Under Management (AUM) while serving as head of the REITs business unit and institutional sector head, and he also received a commendation from the Minister of Land, Infrastructure and Transport at the end of last year.
Lee Chung-sung, who is starting work as the chief executive officer of the trust sector, is an expert in real estate trusts, having worked at Seongwon Construction and International Asset Trust. He is particularly regarded as a first-generation expert in the trust-type redevelopment projects that have gained recent attention and has led the completion of five redevelopment sites.
In his opening speech, CEO Jeong noted, "To overcome the increasingly uncertain real estate market, the advancement of organizations and systems is necessary," adding that, based on the spirit of "One Koramco," the various sectors and teams should create a "New Koramco" by progressing towards the same goal through strong solidarity, co-innovation, and organic collaboration.
CEO Lee of the trust sector stated, "We must discover stable revenue-generating businesses based on our risk management capabilities through strong change and innovation," and emphasized that the organization must fully reinvent itself by strengthening expertise in all areas related to real estate development, not just as trust specialists.
Koramco REITs Management and Trust is a real estate finance company managing three main sectors: the REITs sector, the real estate trust sector, and the real estate fund sector (its subsidiary Koramco Asset Management). As of the end of last year, it holds approximately 33 trillion won in AUM and a cumulative trust of 14 trillion won.