Koramco Asset Management said on the 21st that it held a board meeting on the 20th and appointed Executive Vice Presidents Kim Tae-won and Yoon Jang-ho as co-CEOs. Koramco Asset Management is a subsidiary of Koramco REITs Management and Trust, which holds the No. 1 market share in Korea's private REITs, and the two companies manage a combined real estate asset (AUM) of about 37 trillion won through REITs and funds.
Following the parent company Koramco REITs Management and Trust's move to operate the REITs and real estate trust divisions under a co-CEO system to strengthen specialization by business, the subsidiary Koramco Asset Management also plans to adopt the same structure to enhance expertise and execution in the investment division.
New CEO Kim Tae-won graduated from Daegu Seonggwang High School and Hanyang University's Department of Law, earned a master's degree in real estate from Konkuk University Graduate School, and a doctorate in public administration from the University of Seoul Graduate School. After serving as head of investment management at Korea Investment Management and as head of investment management at Richmond Asset Management, Kim joined Koramco Asset Management in 2016.
Kim oversaw the Hwaseong JW Logistics Center, the Bokjeong Station area mixed-use development, and the K-square Data Center Gasan development, contributing to expanding Koramco's investment portfolio into digital infrastructure assets and large-scale mixed-use developments. Kim also led the formation of Korea's first mezzanine blind fund and a development-project-only blind fund, strengthening the foundation of Koramco's alternative investment platform.
CEO Yoon Jang-ho graduated from Hongdae High School in Seoul and KonKuk University's Department of Economics, and received a master's degree from KonKuk University Graduate School of Real Estate. Yoon worked at Samsung Everland and Kyobo Realco before joining Koramco REITs Management and Trust in 2005. Yoon has since served at Koramco REITs Management and Trust and Koramco Asset Management for more than 20 years, leading key strategic and investment decision-making for the company.
Last year, Yoon led major office deals, including the investment in Samsung Fire & Marine Insurance's Seocho headquarters, the largest office transaction in Korea, as well as Bundang Doosan Tower and the Hyundai Motor Securities building. Yoon also oversaw development projects such as Seongsu-dong Corner 360 and a project financing vehicle for gas station site development. In addition, by leading the KOSPI listings of Koramco Life Infra REIT, the first gas-station-based REIT in Asia and a corporate M&A project utilizing a REIT, and Koramco The One REIT, which is posting the highest returns among listed REITs, Yoon contributed to broadening the base of the indirect investment market.
A Koramco Asset Management official said, "The two CEOs have led Koramco's growth by taking charge of domestic real estate and strategic investment divisions, respectively," adding, "This transition to a co-CEO system will serve as a catalyst to further accelerate and advance the specialization by division that Koramco has been pursuing."