GLOSFER Labs Enters Lifestyle Hotel and Corporate Training Business to Secure Stable Revenue Sources

[Asia Economy Reporter Yoo Hyun-seok] Glosfer Labs announced on the 30th that it has signed a contract to acquire a medium-to-large scale resort located in the metropolitan area from Echi Property & Service for approximately 14.8 billion KRW, entering the lifestyle hotel and corporate training business.

The resort acquired by Glosfer Labs is adjacent to the Garden of Morning Calm, a resort visited by more than one million people annually. It sits on a land area of 7,743㎡ with a total floor area of 3,139㎡. The resort consists of a total of eight buildings including the main building suitable for corporate training, as well as various recreational and convenience facilities such as a swimming pool, golf practice range, karaoke room, and cafeteria. It is a revenue-generating real estate property that began operations in the second half of last year.

A Glosfer Labs representative stated, “The resort we acquired is located within Gapyeong-gun, the top tourist destination in the metropolitan area visited by over 10 million people annually, and is optimally situated about 50 minutes from Gangnam. This transaction was structured by issuing convertible bonds worth approximately 10 billion KRW to pay the purchase price, with the remaining approximately 3.9 billion KRW being assumed as existing debt, so it is expected to provide stable cash flow in the future without any separate cash outflow.”

Meanwhile, Glosfer Labs is actively expanding new businesses such as IT blockchain and next-generation security technology called Data Stealth, in addition to its existing core business of metal distribution.

This content was produced with the assistance of AI translation services.