Company

Overview

Overview
Company Name SK REIT(Real Estate Investment Trust) Co., Ltd.
Established Date March 15, 2021
Headquarter 15F, 136, Sejong-daero, Jung-gu, Seoul, Republic of Korea
Asset Management Company SK REITs Management Co., Ltd
Master Tenants SK Inc., SK Hynix Inc., SK Energy Co., Ltd.
Major Tenants SK On Co., Ltd., SK Energy Co., Ltd., SK E&S Co., Ltd., SK Geo Centric Co., Ltd., SK ecoplant Co., Ltd., SK Forest. Co., Ltd.
Asset Portfolio SK Seorin Building (SK Group integrated head office building), SK U-Tower (SK Hynix head office building),
Clean Energy Reit (116 SK Energy Gas Stations) 100% ownership, Total Value 1 REIT (Jongno Tower) 100% ownership
Equity securities of Clean Industry Reit (5 Buildings of Water Treatment Center)
Term of Existence Publicly-traded perpetual REIT

SNAPSHOT

  • AUM
    (Assets Under Management)     KRW 4.2trillion

    Largest in Korea

  • Number of Managed Assets 122

    CBD Office - 2

    BBD Office - 1

    Gas stations across
    the country - 114

    Water treatment center - 5

  • Market Cap(*) KRW 1.11trillion

    Inclusion in the FTSE Index
    (Dec. 2022)

  • Ownership(*)
    • SK Inc.32.41%
    • Major Institutional Investors shareholders with more than 1%33.08%
    • Foreign investors
      8.21%
  • Credit Rating AA-

    The only and highest rating in Korea

    * NICE Credit Rating, Korea Ratings

  • Vacancy Rate 0.0%
  • Annual Average Rate of Dividend 6.52%

    DPS of KRW 389 over the past year(Based on closing price of ‘24. 06. 30, closing price of KRW 4,815)

  • Fiscal Year March, June, September, December

* As of Jun 30, 2024

GOVERNANCE

SK REIT is a paper company that cannot hire full-time employees as a trust-management real estate
investment company. In compliance with the Commercial Act and the ‘Real Estate Investment Company Act,’
it holds a general meeting of shareholders and a board of directors as internal organizations.

General
Meeting of
Shareholders
Board of
Directors
  • 1 corporate director
  • 2 supervisory
    directors
SK REITs ManagementCorporate Director
Kim Jae-jungSupervisory Director
  • Current Nonexecutive Director, Korea Investment Real Estate Trust
  • Former Advisor, HW Consulting
  • Former Director General for Housing Policy, Director of Construction Policy, Chief of National and Urban Planning, Chief of Planning and Coordination, Ministry of Land, Infrastructure, and Transport
  • Former Director General for Land Policy, Ministry of Land, Transport, and Maritime Affairs
Choi Jae-YoungSupervisory Director
  • Present Attorney, Kim & Chang
  • Former Accounting Supervision
    Department at the Financial Supervisory Service
  • Former Capital Market Investigation
    Department at the Financial Supervisory Service
  • Former Tax Advisory Division at Deloitte Anjin LLC

History

2023

09

Acquired water treatment center

SK REIT acquired five water treatment centers at the Icheon campus, a key base for SK Hynix's semiconductor production, for 1.12 trillion won, and SK REIT jumped to the No. 1 REIT in Korea with 4.2 trillion won in terms of AUM(assets under management).

09

Special dividends on the sale of 2 gas stations

SK REIT paid net profits from the sale of two gas stations as special dividends in 2023.
(’23.3Q: KRW 91 per share, ’23.4Q: KRW 91 per share expected)

06

SK REIT and SK Energy sign agreement to develop eco-friendly gas station together

SK REIT and SK Energy signed agreement to develop Sihwa Industrial Gas Station (Siheung-si) into a platform with urban logistics and eco-friendly energy capabilities, and SK REIT plans to make a strong push to add value to its gas station assets.

2022

12

FTSE EPRA Nareit index admission completed

SK REIT has completed admission to the FTSE EPRA Nareit index (Developed Asia Series), which is corresponding to the only global Reit index that determines admission through individual evaluation of Reits in accordance with the global standard. Upon being admitted into the index, foreign ownership of SK REIT more than doubled compared to before.

10

Jongno Tower incorporation completed

SK REIT purchased the representative landmark trophy office building Jongno Tower, located at the center of Seoul's CBD. SK REIT’s AUM total has increased from KRW 2.4 trillion to KRW 3.1 trillion, securing its position as No.1 in the industry.

‘SK Green Campus’ was created with the participation of six affiliated companies (SK On, SK Energy, SK E&S, SK Gio Centric, SK Ecoplant, and SK Forest) through various environment-friendly business entities to empower the environment-friendly efforts of SK Group.

06

Acquisition of SK U-Tower in June 2022 through the right of first offer

SK REIT entered into a real estate sale and leaseback agreement with SK Hynix to acquire SK U-Tower, for KRW 507.2 billion, and subsequently re-entered into a master-lease agreement with SK Hynix.

The acquisition of SK U-Tower was the first case of the right of first offer for SK Group assets, and through this, SK REIT rose to No.1 in South Korea in asset size, with AUM of KRW 2.4 trillion.

03

Affirmed credit rating of AA-, the highest among all the listed REITs in Korea

SK REIT was the first in the industry to obtain an ICR credit rating of AA- from NICE Investors Service.

SK REIT proved the highest level of financial solidity in the industry and increased its financing competitiveness by obtaining the highest credit rating as a listed REIT.

2021

09

Listed on the Korea Stock Exchange

SK REIT was successfully listed on the Korea Stock Exchange within six months of its establishment on September 14, 2021. Its opening price was determined at KRW 5,340, a 6.8% increase from the initial offering price of KRW 5,000, with the highest intraday price recorded at KRW 6,380, a 19.5% increase from the opening price. Its first day of listing closed at KRW 5,780, a 6.8% increase. Subsequently, SK REIT recorded its highest price of KRW 7,290 on April 27, 2022.

09

Recorded a record-breaking figure for REITs in terms of IPO subscription,
along with the highest oversubscription ratio

SK REIT recorded a subscription deposit of KRW 19.3 trillion prior to its listing, signaling the greatest figure for an IPO subscription among REITs, to go with the highest oversubscription ratio (552:1).

07

Acquisition of SK Seorin Building and SK Energy Gas Stations

It acquired the SK Seorin Building, SK Group's main office complex, and secured a master lease with SK holdings listed as the lessee. SK REIT also acquired 116 SK Energy gas stations through its Clean Energy REIT, a subsidiary REIT, and signed a master lease with SK Energy as the lessee. With total assets managed in its portfolio now at KRW 1.8 trillion, SK REIT has embarked on a journey to ultimately list itself on the securities market.

06

Approved by the Ministry of Land, Infrastructure, and Transport

Upon its incorporation on March 15, 2021, SK REIT applied for a business license in April, which the Ministry of Land, Infrastructure and Transport approved on June 7.

Investment Structure

VISION

SK REIT will continue to incorporate new blue-chip assets with high profitability, create a diverse and balanced portfolio,
adopt innovative management techniques, accomplish its vision as a ‘Market Innovator,’ and make full efforts to take a leap ahead as a global conglomerate REIT.

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