Lucentblock Achieves 17.2% Real Estate STO Return, Daejeon Project Completed

Lucentblock announced on the 24th that its real estate tokenized security (STO) platform ‘Sou’ successfully completed the sale of its first publicly offered asset, ‘Daejeon Startup Space,’ and paid investors a high cumulative pre-tax return of 17.2% (including regular dividend income). This is regarded as a significant milestone, proving the actual possibility of investment recovery and profit realization for STO-based real estate investment products. This sale was decided at a beneficiary meeting held via the Sou app, where 64.3% of the total voting rights participated in electronic voting, resulting in an overwhelming approval rate of 96.8%. As Lucentblock's first case of selling a publicly offered asset, the transaction was valued at 920 million won, and the distribution of sales proceeds to investors was completed on the 23rd through a joint procedure with Kyobo Asset Trust. The sold ‘Daejeon Startup Space’ is a 3-story building located in Eoeun-dong, Yuseong-gu, Daejeon, with a total floor area of approximately 130 pyeong (approximately 430 square meters). The first floor operated as a cafe, while the second and third floors served as a co-working space for young entrepreneurs. It achieved an early sell-out during its public offering in December 2022 and has since consistently provided investors with stable dividend income in the 5% range annually. Notably, local residents from Daejeon and Chungcheong accounted for over 60% of all investors in this offering, making it a model case linking local investment with successful asset recovery. Hur Se-young, CEO of Lucentblock, stated, “This sale, achieved with local investors, is an important turning point demonstrating that the STO-based real estate investment structure has entered the actual investment recovery phase.” He further emphasized, “Moving forward, we will focus on securing investor trust through stable management and operational systems across all investment products.” Established in 2018, Lucentblock is an innovative financial service provider approved by the Financial Services Commission and headquartered in Daejeon. It operates the real estate fractional investment platform ‘Sou’ and has successfully sold out a total of 11 products to date. The company plans to align with the upcoming legislation for tokenized securities by applying for an investment brokerage license related to the distribution of trust beneficiary certificates. Through official authorization, it aims to enter the STO distribution market and leap forward as an institutional financial company. This successful sale further raises expectations for the future of the STO market envisioned by Lucentblock.