Daesang Sells Shinseoldong Headquarters with 47 Years of History for 145 Billion KRW... Headquarters to Relocate

[Asia Economy Reporter Choi Saeng-hye] Comprehensive food company Daesang is selling its headquarters and annex in Sinseol-dong, Seoul, as well as its office building in Sangbong-dong, Seoul. Daesang plans to relocate its headquarters by the end of next year when the sale is completed.

On the 30th, Daesang announced that it has decided to sell two land and building properties, including its headquarters and annex located in Sinseol-dong, Dongdaemun-gu, Seoul, and the Sangbong-dong office building, to STS Development Co., Ltd. for 145 billion KRW. The reason for the sale is to improve financial structure and secure cash liquidity.

The sale is expected to be completed by December 31 of next year. With this, Daesang will relocate its headquarters after 47 years since moving into the Sinseol-dong building in 1973. It is known that Daesang will consolidate departments currently spread across Sangbong-dong and Gwanghwamun and relocate the headquarters.

A Daesang official stated, "The specific timing and location of the headquarters relocation have not been decided yet."

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