User-led IS development contributes to the response of actual user needs, the alternative solution for backlog, and including the enhanced communication and the reduced role conflict between users and DP department. However, there are too little research and practical concern about the user-led IS development. This case study on the Korea Real Estate Investment Trust addresses to the development background, IS development process, and the qualitative and quantitative benefit of user-led IS development. We believe that the case study contributes to the understanding for the benefit of user-led IS development approach.