Cushman & Wakefield Korea Advises on the Sale of 19 Gas Stations Nationwide for Koramco Life Infrastructure REIT
- Targeting gas stations in key locations nationwide, including Incheon, Gyeonggi, Chungcheong, and Yeongnam… Sales marketing aimed at operators, developers, and investors
- Bid announcement scheduled for October 14; bid deadline set for November 19
Cushman & Wakefield Korea, a global commercial real estate services firm, announced that it has been selected as the sales advisor for the sale of 19 gas stations nationwide owned by Koramco Life Infrastructure REIT, which is managed by Koramco Asset Trust.
The sale of these gas stations covers 19 locations across major regions nationwide, including the Seoul Metropolitan Area (Incheon and Gyeonggi Province), as well as Daejeon, North Chungcheong Province, Daegu, North Gyeongsang Province, and South Gyeongsang Province. The bid announcement is scheduled for October 14, and the bid deadline is November 19 .
This sale is being carried out as part of Koramco Life Infrastructure REIT’s asset divestment strategy aimed at restructuring its portfolio and investing in new growth assets. The gas stations up for sale vary widely in location and operational characteristics—ranging from properties near industrial complexes and major arterial roads to those adjacent to residential and commercial areas—and are expected to attract interest not only from operators seeking to run gas stations but also from developers and investors considering land development or repurposing of the sites.
Koramco Life Infrastructure REIT to Sell 19 Gas Stations Nationwide
The second round of sales for 2026 includes a total of 19 gas stations in the Seoul Metropolitan Area and major regional cities. The assets up for sale by region are as follows.
Incheon (4 locations): ▲Namdong-gu Industrial Complex No. 1 Gas Station ▲Namdong-gu Industrial Complex No. 2 Gas Station ▲Bupyeong-gu Bupyeong Industrial Complex Gas Station ▲Bupyeong-gu Sangok Self-Service Gas Station
Gyeonggi (4 locations): ▲ Dunjeon Self-Service Gas Station, Yongin ▲ Hwaseong Premium Self-Service Gas Station ▲ Songtan Jeil Gas Station, Pyeongtaek ▲ Saegwangju Gas Station, Gwangju
Daejeon and North Chungcheong (4 locations): ▲Daejeon Noeun Gas Station ▲Jecheon Jecheon-daero Gas Station ▲Jecheon Joyang Gas Station ▲Cheongju Kyodae Self-Service Gas Station
Daegu and North Gyeongsang (4 locations): ▲Namdaegu IC Gas Station, Daegu ▲Kyungnam University Self-Service Gas Station, Daegu ▲Saehwarang Gas Station, Gyeongju ▲Oryeon Gas Station, Pohang
South Gyeongsang (3 locations): ▲ Yangsan Yangsan-daero Gas Station ▲ Changwon Kukdong Self-Service Gas Station ▲ Miryang Miryang Hyundai Gas Station
The properties up for sale include gas stations located near industrial complexes and major arterial roads in the Seoul Metropolitan Area, as well as those adjacent to residential and commercial areas in major regional cities. Accordingly, it is necessary to comprehensively review factors such as the location of each asset, transportation accessibility, surrounding demand, current operating model, and future development potential.
Gas Station Sales: Interest Shifts from Operational Assets to Development-Oriented Real Estate
Recently, gas station assets have been attracting attention not merely as operational real estate that simply supplies vehicle fuel, but also as development-oriented real estate assets with diverse potential uses depending on their location, zoning, and surrounding development conditions.
In particular, gas stations located in city centers or along major roads offer various business opportunities—such as site development, repurposing, and mixed-use development— —in addition to gas station operations, depending on the surrounding commercial district, catchment area demand, and transportation accessibility.
However, unlike typical commercial real estate transactions, the purchase and sale of gas stations involve transaction considerations specific to such assets, such as soil environmental surveys, lease agreements and eviction, permits and approvals, demolition of existing facilities, and road occupancy . Therefore, it is crucial for buyers considering investment in gas stations to comprehensively evaluate not only the asset’s current operational status but also its locational competitiveness, business viability, development potential, and associated risks.
Cushman & Wakefield Korea plans to conduct sales marketing for this transaction targeting a diverse range of potential buyers—including gas station operators, developers, general corporations, and individual investors— , taking into account the unique characteristics of these gas station assets.
Cushman & Wakefield Strengthens Expertise in Gas Station Sales and Investment Advisory Services
Cushman & Wakefield Korea has accumulated experience in the relevant market and built a network of investors by providing gas station sale advisory and real estate investment advisory services to major domestic oil refiners and institutional investors.
In particular, the firm is strengthening its advisory capabilities for the acquisition and sale of gas station assets, building on its experience in advising on the sale of gas station assets held by Koramco Life Infrastructure REIT, as well as on gas station sale projects related to GS Caltex and SK Energy.
In the process of selling gas stations, it is crucial to adopt a strategy that goes beyond simply securing a buyer; this involves identifying potential investors suited to the specific characteristics of each asset and effectively marketing them by distinguishing between operational and development needs. Cushman & Wakefield Korea plans to leverage its global commercial real estate network and its network of domestic investors and developers to identify a wide range of potential buyers suitable for each asset.
Furthermore, the firm plans to effectively communicate the investment value of the assets up for sale and increase the likelihood of closing transactions by leveraging its specialized services, including advisory for the purchase and sale of gas stations, feasibility studies, development concept planning, and the identification of potential investors and developers.
A representative from the Corporate Solutions Team at Cushman & Wakefield Korea stated, “The gas stations up for sale are distributed across major regions nationwide, from the Seoul Metropolitan Area to the Chungcheong and Yeongnam regions, and are characterized by diverse locations, operational models, and potential uses for each asset.”
The representative added, “We will identify a wide range of potential buyers—including those interested not only in operating the gas stations but also in evaluating the development potential of the sites—and pursue sales marketing strategies tailored to the characteristics of each asset.”
The representative added, “Since gas station assets require a comprehensive review of various factors—including location, surrounding catchment area demand, soil conditions, and permits—we will provide sale advisory services based on our relevant transaction experience and market network to ensure a successful transaction.”
Specific bidding conditions and procedures for the assets up for sale will be announced in the bidding notice scheduled for October 14.
<Photo - Panoramic view of a Hyundai Oilbank gas station owned by Koramco Life Infrastructure REIT>
