Korea REITs Association and Gwangju Urban Corporation Sign Real Estate Finance Cooperation Agreement

The Korea REITs Association announced on the 25th that it has signed a business agreement with Gwangju Urban Corporation to establish a real estate finance cooperation system.

Jung Byung-yoon, Chairman of the Korea REITs Association (left), and Kim Seung-nam, President of Gwangju Urban Corporation, are posing for a commemorative photo after signing a business agreement to establish a real estate finance cooperation system on the 25th. / Photo by Korea REITs Association

This agreement aims to combine the expertise and resources of the two organizations to promote the use of REITs in the supply of rental housing and the revitalization of urban regeneration, as well as to increase opportunities for regional mutual development and residents' participation in REITs investment.

The two organizations plan to strengthen cooperation in various areas, including ▲education, consulting, and information exchange ▲joint research related to real estate finance ▲regulatory improvements to activate REITs.

Jung Byung-yoon, President of the REITs Association, stated, "Once the related legal amendments are completed, regional mutual REITs and project REITs will be introduced, enabling more stable development of major facilities in Gwangju City through REITs." He added, "We expect the utilization of REITs in the city to increase further. We will actively cooperate to ensure not only the stabilization of citizens' housing but also the smooth progress of the city's infrastructure development projects."