Asiana Airlines "Considering Sale of Kumho Resort... Signed Advisory Service Contract"

Attention on Asiana CC

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] Asiana Airlines announced on the 6th that it has signed an advisory service contract between its subsidiaries and NH Investment & Securities to sell Kumho Resort, a subsidiary under its management.

Kumho Resort, owned by Asiana Airlines subsidiaries Asiana IDT, Kumho T&I, Asiana Sabre, and Asiana Airport, is considered the top priority asset for separate sale.

With a book asset value reaching 500 billion KRW, Kumho Resort currently owns four condominiums nationwide (Tongyeong, Hwasun, Seorak, Jeju) and one golf course (Asiana CC). Additionally, through its Chinese subsidiary, it also operates the Weihai Golf Resort in China.

Industry insiders note that due to the recent surge in domestic golf course values amid the COVID-19 pandemic, the asset holds considerable value as a sale item. The market value, considering borrowings and other factors, is estimated to be around 200 billion KRW, according to industry explanations.

Asiana Airlines stated, "We plan to proceed with a review related to the sale through the advisory service contract," and added, "We will re-disclose at the time the sale is finalized or within one month thereafter."

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