This article was published on the ChosunBiz MoneyMove (MM) site at 3:54 p.m. on Nov. 21, 2025.
Koramco REITs Management and Trust-managed listed REIT KORAMCO LIFE INFRA REIT(357120) will sell two gas stations located in Seoul and Busan. It is accelerating a rebalancing strategy to convert a gas-station-focused portfolio into lifestyle infrastructure assets.
On the 21st, according to the investment banking industry, KORAMCO LIFE INFRA REIT recently held a board meeting and approved the signing of sales contracts for two sites: HD Hyundai Oilbank Yangcheon gas station in Mok-dong, Yangcheon District, Seoul, and HD Hyundai Oilbank Nakdong-ro gas station in Sasang District, Busan. The expected sale price for the two sites is about 30 billion won. Cushman & Wakefield was retained as sales advisor.
Established in 2019, KORAMCO LIFE INFRA REIT is Asia's first gas-station-based REIT. After receiving operating approval from the Ministry of Land, Infrastructure and Transport, it acquired 187 gas station assets from SK Networks. Based on the stable cash flows generated by gas station assets, KORAMCO LIFE INFRA REIT entered the Korea Exchange in Aug. 2020.
Since last year it has begun actively selling gas stations to improve portfolio structure. To date it has disposed of 34 gas stations in major regions nationwide, including Seoul, Gyeonggi, Daejeon, Daegu and Busan. Including the Yangcheon and Nakdong-ro gas stations and the already contracted Kimhae-daero self-service gas station in Gimhae, South Gyeongsang, and the Uam-ro self-service gas station in Nam District, Busan, the number of disposed assets increases to 38 in total.
Using the liquidity secured from selling gas stations, KORAMCO LIFE INFRA REIT is expanding the inclusion of non-energy assets such as hotels and offices. Recently it purchased CS Premier Hotel Seoul in Gwanak District, Seoul, and Aneuk Hotel Incheon Guhwal branch in Namdong District, Incheon, for about 40 billion won. Last year it also added Aneuk Hotel Seoul Hongdae branch and the La Porte Blanc Seohyun second parking lot parking facility in Bundang, Seongnam.
It is also pursuing development and utilization strategies for existing gas station sites. Last year it demolished gas stations in Busan and Pohang and established drive-through coffee shops, and this year it is promoting a hotel development on the site of the Jaedong gas station in Jongno District, Seoul, with one basement level and 14 aboveground floors (total floor area about 3,642 square meters).
KORAMCO LIFE INFRA REIT plans to continue selling noncore-area gas stations in phases. It intends to reduce the gas station share to the mid-50s percent of the total portfolio, then expand new investments focused on new business areas. Currently Arirang gas station in Seongbuk District, Seoul, and Dream Self gas station in Yangju, Gyeonggi, are among the properties slated for sale.
Including the newly acquired hotel assets and the Jaedong gas station development, KORAMCO LIFE INFRA REIT's assets under management (AUM) expand to about 1.32 trillion won. The current portfolio consists of gas stations 60%, logistics centers 28%, offices 5%, retail 5%, mobility 1% and hotels 1%.