Koroit will look within the club to fill the void to be left by Tim McIntyre.
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The two-time premiership star, who claimed back-to-back best and fairest awards last week, has informed the Saints he will not be at the club next season.
McIntyre has signed with Bellarine league club Barwon Heads for 2019.
Coach Chris McLaren said he was confident Koroit would cover the loss of the former Adelaide forward, though admitted it was unfortunate.
"He has played two full seasons and won two best and fairests and two premierships and a medal in a grand final, so you don't ever like losing players of that quality," he said.
"But the way we try and develop our players and try to recruit, you don't just try to be good for one year you try to set yourself up for long-term success.
"I don't know when the last time we didn't play finals was, it would be back in the 90s. Our under 18s played in the last two grand finals, the reserves played in the preliminary final
"We have a lot of blokes that would be playing senior football at most other clubs. And they play some (senior) games with us but they need to play more.
"So this is a silver lining and gives us an opportunity to get some more football into guys and if we expect them to keep hanging around they need to play more."
McLaren said McIntyre had played a vital role in helping the club develop the next crop of stars, some of which will takeover from him.
"Clearly he has been a wonderful player and fitted in beautifully with the boys," he said.
"Playing wise he had two outstanding seasons, he contributed extremely well by running all of our fitness in the preseason.
"He really trains next level in the summer with his fitness and extra work that he puts in. Now a lot of other boys have taken that up so he has set them up well with how much you have to put in to be a good player."
McIntyre joins premiership teammate Ben Goodall (retired) as confirmed departures ahead of next season.