SK REIT Leases Seorin Building to Affiliate SK for 5 Years: Generating Annual Rent of 527.95 Billion KRW, Limited Impact on Shareholder Value
SK REIT entered into a 5-year lease agreement with its affiliate SK Co., Ltd. for the SK Seorin Building (99 Seorin-dong, Jongno-gu, Seoul) from July 6, 2026 to July 5, 2031.
The annual rent is 527.95 billion KRW, and a deposit of 327.12 billion KRW is converted to an annual rent equivalent of 10.14 billion KRW (applying 3.10% interest rate under the VAT law), totaling 538.09 billion KRW in transaction value.
The lease aims to secure stable rental income by leasing the core asset, SK Seorin Building, to the parent company on a long-term basis.
This is a related-party transaction under the Fair Trade Act, approved by the board with two supervisory directors present; no outside directors exist under the Real Estate Investment Company Act.
Lease terms (area, period, amount, etc.) are subject to change, and details are delegated to SK REIT Management (corporate director).
[AI Summary]This related-party real estate lease disclosure represents a normal business activity of SK REIT securing stable cash flows by leasing its core asset, SK Seorin Building, to the parent company on a long-term basis without dilution or financial risk, thus assessed as a neutral event with limited impact on shareholder value.