Koramco Appoints Yoon Jang-ho as New Vice President and Head of REITs Business Division 2

2023 Regular Executive Personnel Changes
Expecting Synergy Between Divisions, Headquarters, and Teams

Yoon Jang-ho, Head of REITs Business Division 2 at Koramco Asset Trust, promoted to Vice President.

[Asia Economy Reporter Kwangho Lee] Koramco Asset Trust, the undisputed number one real estate investment company in the domestic REITs industry, and its subsidiary Koramco Asset Management conducted their 2023 regular executive appointments on the 5th, promoting Executive Director Jangho Yoon to Vice President, Managing Directors Cheolgyu Kim and Youngsun Choi to Executive Directors, and Directors Jooyong Lee, Seongkwon Jang, Seungho Choi, and Hyunseok Park to Managing Directors respectively.

Koramco made this personnel decision to focus its capabilities on maximizing the value of real estate assets held through REITs and real estate funds in response to the real estate investment market downturn caused by the recent rapid interest rate hikes.

Newly appointed Vice President Jangho Yoon holds a master's degree in Real Estate Finance and Economics from Konkuk University. After working at Samsung Everland and Kyobo Realco, he joined Koramco Asset Trust in 2005. Vice President Yoon led the M&A of SK Networks' gas station business division, the first corporate restructuring case through REITs in Korea, and successfully listed 'Koramco Energy REIT' on the KOSPI. He developed gas station sites in various ways to achieve an annual dividend rate in the 10% range last year and purchased Samsung C&T Seocho Building, a representative trophy asset in the Gangnam area, transforming it into 'The Asset Gangnam,' earning recognition as Korea's top expert in enhancing real estate value.

Executive Directors Cheolgyu Kim and Youngsun Choi are known as strategists who maximize asset value through various attempts in the REITs and real estate fund sectors respectively. Executive Director Kim played a pivotal role in maximizing asset value by developing underutilized general warehouses within affiliated companies into complex logistics centers equipped with ambient and cold storage facilities. He is also a leading fund manager operating three blind funds investing in development projects, office buildings, and listed REITs, managing a total of 760 billion KRW.

Additionally, Executive Director Choi was the first in Korea to establish a blind fund specialized in development projects. Since last year, he has been advancing data center development projects, which have recently attracted significant attention, successfully bringing the business onto a solid track, earning high praise for his excellent analytical skills across the industry.

Following this executive promotion announcement, Koramco plans to reorganize its divisions to foster synergy through competition based on authority and responsibility among divisions, headquarters, and teams.

The details of Koramco's regular executive appointments are as follows.

◆ Vice President △ Koramco Asset Trust Jangho Yoon, Head of REITs Business Division 2

◆ Executive Director △ Koramco Asset Trust Cheolgyu Kim, Head of REITs Business Division 1

△ Koramco Asset Management Youngsun Choi, Head of Domestic Division 2

◆ Managing Director △ Koramco Asset Trust Jooyong Lee, Head of Investment Management Headquarters 1, REITs Business Division 1

△ Koramco Asset Trust Seongkwon Jang, Head of Investment Management Headquarters 1, REITs Business Division 2

△ Koramco Asset Trust Seungho Choi, Head of Investment Management Headquarters, Value Investment Management Division

△ Koramco Asset Management Hyunseok Park, Head of Investment Management Headquarters 1, Domestic Division 1