Koramco the One Reit코람코더원리츠

Koramco the One REIT is a single-building office REIT whose profits are stable, but its share price has risen sharply over the past year.

The REIT owns one office building, the Hana Securities Building in Yeouido, Seoul, and distributes rental income to shareholders. For FY 2025 it reported revenue of ₩7.6B-scale income... specifically ₩7.57B revenue? Amounts in the data are ₩7.6B revenue, ₩5.1B operating income and ₩2.9B net income, with growth of about 2% and a 67% operating margin. Borrowings are large at about ₩290B against a small equity base, and the shares closed at ₩2,400 on 23 October 2026, near their 52-week high.

What stands out

• FY 2025 revenue grew about 2% to ₩7.6B and net income fell from ₩3.3B in 2024 to ₩2.9B.
• Operating margin is high at 67.4%, but ROE is only 1.5%, reflecting a large equity base relative to profit.
• Liabilities are 156.8% of equity and borrowings total about ₩290B, a heavy debt load.
• The share price is up 69% over one year and about 5% over three months, trading just below its ₩2,410 52-week high.
• Valuation is high on earnings: P/E is 32.9 and EV/EBITDA is 64.1, while P/B is 0.5 and the dividend yield is 3.9%.
• Recent filings are mainly a shareholders' meeting notice, a proxy reference document, insider shareholding reports and a dividend decision amendment dated 22 September 2026.

What to watch

• The shareholders' meeting and any resolutions on the cash dividend, which the data lists as a recent amended decision.
• Insider shareholding reports and foreign ownership, which fell from 3.2% to 2.9% over 60 days while foreign investors were net sellers over 20 days.
• Concentration risk: the data shows one property and one main tenant group, and no news headlines were available to add context.