This article was posted 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 will sell two gas stations located in Seoul and Busan. It is accelerating a rebalancing strategy to shift a portfolio centered on gas stations into life-style infrastructure assets.
On the 21st, according to the investment banking industry, KORAMCO LIFE INFRA REIT recently held a board meeting and approved sale-and-purchase agreements 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 combined sale price for the two sites is about 30 billion won. The sale was arranged by commercial real estate proptech company RealtyPlanet.
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. KORAMCO LIFE INFRA REIT listed on the Korea Stock Exchange in August 2020, based on stable cash flows generated from gas station assets.
Since last year it has begun actively selling gas stations to improve its portfolio structure. To date it has disposed of 34 gas stations across major regions nationwide including Seoul, Gyeonggi, Daejeon, Daegu and Busan. Including the Yangcheon and Nakdong-ro gas stations and already signed sale-and-purchase agreements for Gimhae Daero self-service gas station in Gimhae, Gyeongnam, and Uam-ro self-service gas station in Nam District, Busan, the number of disposed assets rises to 38.
KORAMCO LIFE INFRA REIT is using liquidity secured from disposing of gas stations to expand inclusion of non-energy assets such as hotels and offices. Recently it purchased CS Premier Hotel Seoul in Gwanak District, Seoul, and Anuek Hotel Incheon Guwol in Namdong District, Incheon, for about 40 billion won. Last year it also added Anuek Hotel Seoul Hongdae and La Porte Blanc Seohyun No. 2 parking facility in Bundang, Seongnam.
It is also pursuing development and utilization strategies for former gas station sites. Last year it demolished gas stations in Busan and Pohang and created drive-through coffee shops, and this year it is promoting development of a hotel 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 sequentially. It intends to reduce the gas station proportion to the mid-50% range of the overall portfolio, then expand new investments centered on new business areas. Currently Arirang gas station in Seongbuk District, Seoul, and Dream Self gas station in Yangju, Gyeonggi, are listed for sale.
Including newly acquired hotel assets and the Jaedong gas station development project, KORAMCO LIFE INFRA REIT's assets under management (AUM) will expand to about 1.32 trillion won. The current portfolio comprises gas stations 60%, logistics centers 28%, offices 5%, retail 5%, mobility 1% and hotels 1%.