Yongpyong Resort, Q1 Operating Profit 10 Billion KRW Up 30%... "Achieved Balanced Quantitative and Qualitative Growth"

Yongpyong Resort (Mona Yongpyong) announced its first-quarter performance for this year through a public disclosure on the 16th, achieving both quantitative sales expansion and qualitative profitability.

Based on Yongpyong Resort's consolidated financial statements, first-quarter sales amounted to 55.954 billion KRW, operating profit was 9.98 billion KRW, and net profit was 5.796 billion KRW. Compared to the same period last year, sales grew by 21.3%, while operating profit and net profit surged by 29.9% and 70.6%, respectively.

A company representative explained, “Strong winter sales from ski leisure and other resort operations, along with the reflection of sales and construction progress of the premium condo ‘Rusongchae,’ which is smoothly under construction, drove significant growth. Additionally, sales generated from the acquisition of Aino Resort Development, which operates Aino CC and Shimabara CC in Nagasaki, Japan, were reflected for the first time this quarter.”

Yongpyong Resort aims to continue the upward trend in performance following the large-scale turnaround achieved last year. The resort operations segment’s ‘Mona Yongpyong’ brand strategy, which allows visitors to enjoy various leisure activities and culture regardless of the season, has led to increased visitor numbers and room occupancy rates each year, contributing to continuous profitability expansion. Furthermore, the acquisition of Aino Resort Development for the chain expansion of overseas golf courses and resorts is expected to generate significant synergy effects starting in the second half of the year, accelerating business expansion.

In the sales division, construction of the condo ‘Rusongchae’ is progressing smoothly. Condo sales in the first quarter showed a 30% increase compared to the same period last year, and from the second quarter onward, as construction and sales accelerate, performance reflected according to construction progress is expected to improve further.

With sales having moved beyond the recovery phase into a growth phase due to the endemic reopening, Yongpyong Resort plans to focus more on its operations business while continuously expanding the condo sales business. Additionally, it will accelerate new projects such as the ‘Gochang Comprehensive Theme Park’ in collaboration with Gochang County, Jeonbuk, aiming to achieve record-breaking results this year.

Meanwhile, Yongpyong Resort is promoting a name change to ‘Mona Yongpyong,’ which embodies a new corporate brand story. A shareholders’ meeting will be held on the 29th to approve amendments to the articles of incorporation, including the name change. Through the name change to ‘Mona Yongpyong,’ the company aims to go beyond its reputation as Korea’s first ski resort to become a year-round comprehensive wellness village and to be recognized for sustainable corporate value driven by new businesses that will lead mid- to long-term growth.

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