Koramco Trust Completes Acquisition of East Central Tower for 500 Billion KRW

[Asia Economy Reporter Park So-yeon] Koramco Asset Trust has completed the acquisition of 'East Central Tower,' the largest office building in the eastern Seoul area.

According to the investment banking (IB) industry on the 13th, Koramco Asset Trust recently purchased East Central Tower for approximately 500 billion KRW through the 'Koramco Sustainable Growth Office Blind Fund No.1 (Sustainable Growth Blind No.1)'.

East Central Tower is an eco-friendly office building located at 571 Cheonho-dong, Gangdong-gu, Seoul. It has 6 basement floors and 36 above-ground floors, with a total floor area of 100,422㎡ (30,378 pyeong). More than half of the total leased area is rented by Samsung Group affiliates such as Samsung Electronics, Samsung Medison, and Samsung C&T Corporation. FILA Korea and Samwoo Architects & Engineers use it as their headquarters.

Completed in 2017, this building received the highest grade in green building certification and a top energy efficiency rating. It applies eco-friendly and energy-saving systems such as geothermal air conditioning and solar power facilities, significantly reducing carbon emissions.

Koramco Asset Trust plans to additionally acquire LEED (Leadership in Energy and Environmental Design) certification to establish this building as a unique ESG landmark in the Seoul metropolitan area. LEED is an eco-friendly building certification system developed and implemented by the U.S. Green Building Council.