"Koramco Energy REITs Completes Full Logistics Lineup Establishment"

Jangho Yoon, Head of REITs Business Division 1, Koramco Asset Trust

[Asia Economy Reporter Park So-yeon] Yoon Jang-ho, Head of the REITs Business Division 1 at Koramco Asset Trust (Executive Director), stated in an interview with Asia Economy on the 11th, "Koramco Energy REIT recently acquired the SK Networks metropolitan area logistics center," adding, "With this, we have established a complete lineup covering large-scale logistics centers, middle-mile (inter-company logistics movement), and last-mile (consumer-facing logistics)."

Koramco Energy Plus REIT (hereinafter Koramco Energy REIT) completed the acquisition process by finalizing ownership of the 'SK Networks Jukjeon Logistics Center' in the southeastern metropolitan area on the 31st of last month. The SK Networks Jukjeon Logistics Center, the first asset for which Koramco Energy REIT has received ownership for logistics business purposes, is located at 228 Jukjeon-ro, Suji-gu, Yongin-si, Gyeonggi-do. It is a logistics center with a total floor area of 5,889㎡ (1,782 pyeong), comprising a logistics building from basement level 1 to the 3rd floor and an annex building on the 1st floor above ground.

The logistics center has been leased for the next five years to 'Fresh Solution,' a subsidiary of Market Kurly, which is gaining attention as the first domestic e-commerce company preparing for an IPO. Fresh Solution, a food ingredient-specialized delivery company, plans to use this logistics center as a forward base to expand its market share in the metropolitan area.

Koramco Energy REIT focused on the locational advantages. Yongin-si, where the SK Networks Jukjeon Logistics Center is located, is a representative logistics center-dense area classified as the southeastern metropolitan area. It has traditionally been a region with concentrated logistics center development due to its proximity to urban and residential areas and excellent transportation networks extending nationwide.

The SK Networks Jukjeon Logistics Center is situated within 500 meters of National Route 43 (Poeun-daero), providing easy access to major expressways such as the Yeongdong Expressway and the Jungbu Expressway. Additionally, it is adjacent to Jukjeon-dong in Suji-gu, Yongin-si, and Gumi-dong in Bundang-gu, Seongnam-si, which are developed as premium residential environments, making it well-suited to serve as a middle-mile center connecting logistics warehouses and delivery hubs.

However, Koramco Energy REIT has no plans to expand the site or construct new logistics facilities. Since the logistics center is adjacent to residential areas, the plan is to operate the facility without causing inconvenience to nearby residents.

Head Yoon Jang-ho said, "We plan to accelerate business expansion starting with this acquisition," hinting, "The next new acquisition asset will be the Namcheongra Smart Logistics Center in Incheon." The 'Namcheongra Smart Logistics Center,' located in Wonnam-dong, Seo-gu, Incheon Metropolitan City, is a large-scale complex logistics facility with a total floor area of 1,399,539.7㎡ (42,336 pyeong) spanning from basement level 1 to the 7th floor above ground. It was completed last month, and Koramco Energy REIT is scheduled to receive ownership by the end of this month. Coupang, the largest distribution company in Korea, has confirmed a long-term lease.

Koramco Energy REIT recently decided on its first capital increase after listing to raise funds for acquiring the Namcheongra logistics center. The total amount is approximately 118.2 billion KRW, with a capital increase ratio of about 27.17%. Samsung Securities and NH Investment & Securities are jointly acting as lead underwriters, and shareholders participating in the capital increase will be finalized on the 15th.

Koramco Energy REIT plans to expand its existing portfolio, which mainly consists of gas stations, into complex development and logistics businesses through new asset acquisitions. In particular, it aims to lead in adding value through land use conversion or development by leveraging the locational advantages of its assets. The plan is to strengthen its position as a 'land platform' that can encompass future businesses such as complex retail center development, electric vehicle charging station conversion, and urban logistics center expansion.

Head Yoon emphasized, "Koramco Energy REIT is no longer just a gas station REIT," adding, "It is a growth-oriented land platform that continuously enhances the potential of its land by developing the approximately 170 nationwide sites it owns into large home appliance stores, mobility-retail complex facilities, and incorporating logistics centers as new assets."

Yoon added, "Building a nationwide land platform utilizing gas station sites has been the direction since the early days of listing, and complex retail development will become a new growth axis alongside building a logistics lineup," noting, "We are preparing for the Mokgam gas station development to be the first project." Koramco Energy REIT plans to develop the Mokgam gas station in Siheung, Gyeonggi-do, into a 'Mobility Retail Center' that can be used as an electric vehicle charging station, commercial space, and regional logistics hub.