Korea REITs Association and Korea Real Estate Board Join Forces to Boost REITs Market: "A Key Pillar of the Financial Ecosystem"

Contributing to the Advancement of Real Estate Finance

The Korea REITs Association and the Korea Real Estate Board have joined forces to invigorate the domestic REITs (Real Estate Investment Trusts) market. On October 17, the two organizations signed a memorandum of understanding (MOU) and agreed to strengthen cooperation in four key areas: education, policy, and industry collaboration.

This agreement aims to combine the expertise and networks of both organizations to broaden the foundation for the growth of the REITs industry and to promote the sustainable development of the real estate finance market. The areas of cooperation include: education and talent development for the advancement of the REITs market; policy collaboration for the modernization and revitalization of real estate finance; establishing a continuous communication system for industry issues; and discovering collaborative projects for the mutual growth of both organizations.

Jung Byung-yoon, Chairman of the Korea REITs Association (left), and Son Tae-rak, President of the Korea Real Estate Board, are posing for a commemorative photo at the business agreement ceremony held at the Seoul office of the Korea Real Estate Board. Korea REITs Association · Korea Real Estate Board

Jung Byung-yoon, Chairman of the Korea REITs Association, stated, "Through our collaboration with the Korea Real Estate Board, which represents the public interest and expertise of the real estate market, a foundation has been established for the REITs industry to take a significant leap forward. We will actively support REITs so that they can become a key pillar of the financial ecosystem, contributing not just as investment products but also to the daily lives of citizens and the local economy."

Son Tae-rak, President of the Korea Real Estate Board, also commented, "This agreement has established a concrete framework for supporting the REITs market. Through close cooperation with the Korea REITs Association, we will make every effort to ensure that the REITs system not only drives innovation in real estate finance but also becomes a more trusted system for investors."

REITs are real estate investment companies that pool funds from multiple investors to invest in real estate development, acquisition, and operation, as well as in real estate-related securities, returning the profits generated to the investors. The Korea Real Estate Board is entrusted with the review, inspection, and supervisory support tasks for REITs' business licensing and registration.