Koramco REITs Management and Trust said on the 6th that it completed a paid-in capital increase of 70 billion won for its subsidiary Koramco Asset Management and will expand investments in digital infrastructure such as large-scale mixed-use developments and data centers. Koramco REITs Management and Trust manages and operates real estate assets of about 54 trillion won. It is the second largest in Korea after IGIS Asset Management.
With this capital increase, Koramco Asset Management will have capital of about 140 billion won. Based on the expanded capital, Koramco Asset Management plans to actively pursue development-type investments, including equity investments in project financing vehicles (PFV) and anchor investments in development.
Koramco currently manages and operates real estate assets of about 54 trillion won. Parent company Koramco REITs Management and Trust is operating 17.2 trillion won in real estate assets through REITs and managing 17.5 trillion won through real estate trusts. Subsidiary Koramco Asset Management is operating about 19.2 trillion won through real estate funds and PFVs. Koramco is currently the only domestic real estate finance company that simultaneously conducts REITs, trusts, and real estate fund businesses.
Koramco plans to accelerate growth and increase investment scale by strengthening its business structure composed of REITs, real estate funds, and real estate trusts, as well as its sector-specific expertise. Recently, Koramco has been pursuing "ONE KORAMCO" management to maximize synergies between the parent company and subsidiaries.
Jeong Seung-hoe, CEO of Koramco REITs Management and Trust, said, "The 54 trillion won in assets under management (AUM) currently being operated is only a foundation to prove Koramco's competitiveness, and going forward we will offer investors higher profitability through large-scale mixed-use development and digital infrastructure investments," adding, "Based on an integrated investment platform that encompasses REITs, trusts, and asset management, and a sector expert system that has been stably established, we will get ahead of market changes to secure investment opportunities and further strengthen our initiative in the real estate investment market."