Busan Transportation Corporation Secures 13.2 Billion KRW Through Asset Sales... Record High Asset Management Revenue

Land Sale and Lease 7.9 Billion KRW, Surplus Goods Sale 5.3 Billion KRW

Busan Transportation Corporation (President Lee Byung-jin) announced on the 6th that it achieved 13.2 billion KRW in asset management revenue last year through asset sales and other means.

The corporation recorded a historic high asset utilization and surplus goods sales revenue of 13.2 billion KRW, a 367% increase compared to 2023, by selling 5,215㎡ of land in 2024 and disposing of 93 unnecessary assets.

To improve asset soundness, the corporation sold 3,103㎡ of land related to the development of the Centum 2 District Urban High-tech Industrial Complex and approximately 2,112㎡ of land related to the construction of the Western Busan Medical Center in Saha-gu, Busan, for a total of 7 billion KRW, and secured about 900 million KRW in asset management revenue through land leasing.

Additionally, it secured 5.3 billion KRW in liquidity by selling 122 old train cars from Line 1, demolition materials from facility improvement works, and about 1,600 tons of surplus goods. The sales were conducted through transparent and fair procedures, including official appraisals, public competitive bidding via Onbid, and on-site briefings.

From the receipt of surplus goods, including weight measurement, classification of saleable items, and monitoring of international raw material price trends, the corporation has strengthened management throughout the entire process up to sales. It also operated sales timing flexibly to increase surplus goods sales revenue and ensure timely disposal.

Lee Byung-jin, President of Busan Transportation Corporation, stated, “The corporation is striving to improve its financial structure by generating record-breaking revenue and reducing costs through asset management amid a challenging financial environment. We will continue to enhance financial soundness through management efficiency, including the advancement of asset management.”

Busan Transportation Corporation is conducting the sale of electric trains to strengthen financial soundness.

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