Kasa Korea's Cheonan warehouse securities now trading

Kasa Korea listed the securities of a new distribution center on its real estate trading site, the company announced on Wednesday.

Distribution center in Cheonan, South Chungcheong, traded on Kasa Korea app. [KASA KOREA]

Kasa Korea listed the securities of a new distribution center on its real estate trading site, the company announced on Wednesday.

Kasa Korea is a real estate securities trading site that allows users to purchase and trade fractional ownership of buildings on its mobile app. The company issues digital asset-backed securities that represent shares in a building and sells them to investors.

The distribution center listed Wednesday is located in Cheonan, South Chungcheong. It is being rented by TE Logis, and the lease runs through 2027.

The distribution center generates an average 4 percent return, said Kasa Korea.

The company said 12 billion won ($9.3 million) of the units were sold to almost 3,000 people earlier this month. It was the first distribution center traded on Kasa Korea. Other tradable properties are buildings.

“The largest number of the digital asset-backed securities were issued from the distribution center compared to all other constructions issued, but they sold fast,” said Kasa Korea Ceo Yea Chang-whan in a statement.

BY JIN MIN-JI [jin.minji@joongang.co.kr]