Activating self-storage real estate investment… Darak teams up with Shinhan Asset Management

Second Syndrome, which operates the self-storage service ‘Mini Storage Darak’, announced on the 4th that it had signed a business agreement with Shinhan Asset Management to promote real estate investment in the self-storage sector.

Mini Storage Darak is a service that creates storage space in buildings in urban areas and rents it to individuals for a monthly subscription fee. It provides storage spaces of various sizes so that single-person households and others can use their living space more flexibly and more widely.

Through this agreement, the two sides plan to continue building a comprehensive partnership, including △ domestic market research on the self-storage industry △ establishing real estate investment models △ identifying new growth areas in real estate.

Based on about 200 Mini Storage Darak locations nationwide, Second Syndrome has been proposing a new real estate utilization model that converts idle urban spaces into income-generating assets. It provides self-storage services based on space automation technologies such as IoT (Internet of Things) and unmanned operation systems.

Hong Woo-tae, CEO of Second Syndrome, said, "This agreement will be an important turning point for self-storage to become fully connected with institutional finance," adding, "Through Mini Storage Darak, we will work with Shinhan Asset Management to create a new growth engine in Korea's real estate market."

Reporter Choi Tae-beom (bum_t@mt.co.kr)