Daesin Global Core REITs to List in Second Half of Year
Investing 420 Billion KRW in European Amazon Logistics Centers and More
Preparing for 100 Years with Differentiation Strategy on 60th Anniversary
[Asia Economy Reporter Hwang Junho] Daishin Securities is set to list the "Daishin Global Core REITs," which invests in Amazon logistics centers located in Europe, in the second half of the year to commemorate its 60th anniversary.
Daishin Securities announced this plan on the 15th, ahead of its founding anniversary on the 20th. The initial market capitalization of this REITs will be approximately 420 billion KRW and will include assets such as A-grade core offices in Japan and multi-family rental housing, in addition to Europe. The target dividend yield is around 5-6% annually, with dividends paid semiannually. The principal is 100% currency-hedged to reduce exchange rate fluctuation risks.
Daishin Securities remains a living witness to the history of securities in South Korea. It started as Samrak Securities in 1962 and was acquired by the late founder Yang Jaebong in 1975, who renamed it Daishin Securities. In 1991, it became the first in the industry to obtain approval to concurrently operate mergers and acquisitions (M&A) brokerage services and successfully arranged numerous acquisition deals in the 1990s. It also contributed to industry development by introducing the first electronic quotation board and Home Trading System (HTS) domestically. During the 1997 Asian financial crisis, it was the only one among the five major large securities firms, including Daewoo, Dongseo, Ssangyong, and LG, to survive.
In the 2000s, as the era shifted from brokerage to investment and capital scale became a competitive advantage, Daishin Securities found a way to survive through differentiated strategies such as acquiring savings banks. In 2014, it acquired Woori F&I and launched Daishin F&I, successfully completing the development project of the luxury apartment "Nine One Hannam." In 2019, it established Daishin Asset Trust and began real estate trust business. After receiving asset management company (AMC) approval, it started targeting the REITs market.
Recently, along with AMC approval, it has been targeting the REITs market. To expand global investments, it also established local subsidiaries in New York, Singapore, and Tokyo, Japan.
Oh Ikgeun, CEO of Daishin Securities, stated, "We are a securities firm with the most unique differentiated portfolio (finance + real estate) in the industry," and added, "Going forward, with insightful perspectives, we will find differentiated competitiveness unique to Daishin and become an investment company that responds agilely to the times."
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