Hanjin Group Accelerates Disposal of Non-Performing Idle Assets... Selects Sale Lead Manager
[Asia Economy Reporter Kim Hyewon] Hanjin Group announced on the 13th that it has selected the 'Samjong KPMG-Samsung Securities' consortium as the preferred negotiation partner for the sale of the group's idle assets.
At the end of February, Hanjin Group sent a Request for Proposal (RFP) for sale advisory services to 15 related companies to select a sales agent for idle assets. By the end of March, it received proposals from six companies and conducted detailed evaluations including presentations.
The Samjong KPMG-Samsung Securities consortium will, after signing the main contract, actively carry out tasks such as market analysis, investigation of potential buyers, asset valuation, selection of preferred negotiators, and support for all matters related to the bidding sale.
The idle assets for sale include ▲ land (36,642㎡) and buildings (605㎡) owned by Korean Air in Songhyeon-dong, Jongno-gu, Seoul ▲ shares of Wangsang Leisure Development Co., Ltd., the operator of the marine leisure facility 'Wangsang Marina,' which is 100% owned by Korean Air ▲ land (53,670㎡) and buildings (12,246㎡) of Paradise Hotel in Topyeong-dong, Seogwipo-si, Jeju, owned by Kal Hotel Network.
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Hanjin Group plans to improve the group's financial structure by thoroughly reviewing the business feasibility of low-profit assets and non-core businesses, including the sale of non-profitable idle assets, and then continuing development and nurturing or restructuring.
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