Koramco Achieves Highest Grade in US Green Certification 'LEED v4.1'

[Asia Economy Reporter Kwangho Lee] Coramco Asset Trust (hereinafter Coramco) announced on the 24th that it has become the first in Korea to receive the highest grade, "Platinum," in the U.S. green building certification "LEED v4.1."

LEED (Leadership in Energy and Environmental Design) is an eco-friendly building certification system accredited through strict evaluation by the U.S. Green Building Council. Along with GRESB (Global Real Estate Sustainability Benchmark), it is regarded as the world's most prestigious green certification related to real estate.

Coramco was the first domestic real estate management company to challenge "LEED v4.1," which applies the latest standards that rigorously verify efforts and achievements in reducing carbon emissions throughout the entire lifecycle of building development and operation, in addition to the nine evaluation factors of the previous "LEED v4.0."

The nine factors are △integrated management process △location and transportation environment △sustainable site △water efficiency △energy management and indoor air quality △use of eco-friendly materials and resources △indoor environmental quality △innovative design △community inclusiveness.

LEED assigns grades by increasing levels from general certification (Certified) to Silver, Gold, and Platinum as the asset’s eco-friendliness strengthens. Among these, Platinum is the highest grade, and Coramco Asset Trust is the only Korean company to have obtained the Platinum grade in LEED v4.1 certification.

The asset participating in this LEED certification is "Majesta City Tower 2" in Seocho-gu, Seoul, operated by Coramco through the "Cokrep No.41" REIT. This building is managed considering energy and water resources as well as indoor and outdoor environments and tenant convenience throughout the entire process from design to construction and operation.

According to the U.S. Green Building Council, buildings with this certification use about 25% less energy and 11% less water consumption compared to general buildings of the same size, and emit more than 50% less greenhouse gases. Additionally, improvements in indoor and outdoor environments and air quality promote the health and productivity of tenant company members, enabling an average rental rate about 20% higher than non-certified buildings. In fact, "Majesta City Tower 2" is Coramco’s representative office asset that has maintained a vacancy rate of "zero" since its completion.

Joonho Jung, CEO of Coramco Asset Trust, said, "Although there are difficulties in new investments due to recent interest rate hikes, Coramco will turn this period into an opportunity to strengthen the competitiveness of existing assets," adding, "We will strongly practice real ESG that translates into investors’ profits through actual activities, not emotional rhetoric."