Taeyoung Construction Sells Seoul Yeouido Office Building for 225.1 Billion KRW

Taeyoung Construction announced on the 3rd that it has sold the Taeyoung Building in Yeouido, Seoul, to TY Jeilho Corporate Restructuring Real Estate Investment Company.

Taeyoung Construction's Seoul Yeouido office building.
Photo by Yonhap News

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TY Jeilho Corporate Restructuring Real Estate Investment Company is a corporate restructuring REIT (CR REIT) established by D&D Investment, a specialized asset management subsidiary of SK D&D, for the acquisition of the Taeyoung Building. The sale price is 225.135 billion KRW.

Earlier, D&D Investment was selected as the preferred bidder for the acquisition of the Taeyoung Building in July.

The Taeyoung Building, used by TY Holdings, the holding company of the Taeyoung Group, and Taeyoung Construction, is a building with 5 basement floors and 13 above-ground floors, with a total floor area of 41,858㎡. Taeyoung Construction has been promoting the sale of the office building as part of a self-rescue plan following a workout.

In the announcement on the same day, Taeyoung Construction stated that the purpose of the disposal is "to secure liquidity through asset sales."

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