by Jang Hyowon
Published 29 May.2024 15:00(KST)
Yongpyong Resort (Mona Yongpyong) held an extraordinary general meeting of shareholders and announced on the 29th that the agenda to amend the articles of incorporation due to the company name change was approved as originally proposed, officially changing its name to ‘Mona Yongpyong’.
‘Mona Yongpyong’ combines the English phrase for great nature, ‘Mother Nature,’ with the existing ‘Yongpyong’ brand, embodying the brand value of the slogan that pursues ‘everyone’s happiness, my happiness’ in the embrace of nature like a mother’s arms.
A company representative explained, “Through the name change to ‘Mona Yongpyong,’ which carries a new corporate brand story, we will clearly establish our identity as a four-season comprehensive wellness village and focus even more on our business to leap forward as a global-level resort.”
Established in 1973, Yongpyong Resort led the popularization of skiing by introducing Korea’s first modern ski resort. It solely hosted the 1999 Winter Asian Games and, building on that foundation, successfully secured the 2018 Pyeongchang Winter Olympics, contributing to the development of sports culture. Since then, it has opened golf clubs and developed various contents such as cultural performances and festivals, enhancing its capabilities across sports, culture, and arts. In 2016, it became the first resort company in Korea to go public (IPO), successfully listing on the stock market.
The company has secured growth momentum through its premium condo sales business and achieved visible results. Currently, it is evaluated to have reached a growth momentum through balanced growth in both resort operations and premium condo sales. The scale of the company’s condo and resort sales business planned through 2030 amounts to 1.5 trillion KRW, and the ‘Gochang Comprehensive Theme Park,’ a collaboration project with Gochang County in Jeollabuk-do, is also about to begin construction.
The resort operations division has improved room occupancy rates without seasonal fluctuations by adding new content such as the Balwangsan Cable Car, Skywalk, and Millennium Juniper Forest Trail. Recently, to strengthen the premium status of its memberships, it acquired a prestigious golf course in Japan, aiming to create a chain of overseas golf courses and resorts. Yongpyong Resort aspires to become a qualified 100-year company with a vision as a global leading brand through groundbreaking new businesses, impressive content, and dignified development.
Measures to stabilize and boost the stock price are also being explored. On the 27th, the company signed a trust contract with Shinhan Investment Corp. for the acquisition of treasury shares worth 3 billion KRW and plans to continuously seek shareholder return measures. It is also actively conducting IR activities. From May 23 to 31, it will hold corporate briefings for domestic institutional investors, successfully concluding a communication opportunity aimed at increasing corporate value.
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