Koramco Asset Management Opens Jeonju Office to Strengthen Cooperation with National Pension Service

Koramco Asset Management, a real estate specialized asset management company, announced on the 18th that it will open a liaison office in Jeonju. This is the first time Koramco has opened a separate office space outside its headquarters.

The Koramco liaison office, located in Manseong-dong, Deokjin-gu, Jeonju, Jeollabuk-do Special Self-Governing Province, is just one street away from the National Pension Service Fund Management Headquarters. It is approximately 100 meters in a straight line, reachable within one minute at a brisk pace.

Koramco explained that the office was established to create definite investment returns through swift and close communication with the National Pension Service.

Recently, the National Pension Service confirmed its participation as a major investor in Koramco’s redevelopment project of the landmark ‘The Exchange Seoul’ in Gwanghwamun, Seoul. This investment symbolizes the resumption of domestic real estate investments by the National Pension Service after three years since 2021.

Koramco was also included as one of the three shortlisted asset management companies for the 600 billion KRW real estate loan fund to be selected by the National Pension Service. The real estate loan fund, reset by the National Pension Service after five years, is expected by the construction and real estate industry to serve as a catalyst for the normalization of the domestic real estate market.

Park Hyung-seok, CEO of Koramco Asset Management, said, "Koramco was established to contribute to stabilizing South Korea’s economy immediately after the foreign exchange crisis, and it is meaningful to revive that foundation to contribute to the stability of the national retirement." He added, "Through the opening of the Jeonju liaison office, we will maintain close communication with the National Pension Service and play a definite supportive role in fund management."

Prior to Koramco’s opening of the Jeonju liaison office, the world’s largest alternative investment manager Blackstone and global major asset manager Franklin Templeton Asset Management opened offices in Jeonju. Global real estate investment company Hines is also scheduled to open a liaison office in Jeonju.