Asiana Airlines sells Kumho Resort to a third party … “Ensure liquidity”

[서울=뉴스핌] Reporter Seo Young-wook = While the merger between Korean Air and Asiana Airlines is being decided, Kumho Resort, a large subsidiary of Asiana Airlines, will be sold to third parties as scheduled.

Recently, as golf courses are selling at high prices on the market, they plan to sell them abroad to secure floating funds.

Asiana Airlines held a board meeting on the 16th and announced that it has decided to sell shares of Kumho Resort and Kumho Holdings, a Hong Kong-based corporation.

On that day, four Asiana Airlines subsidiaries, which own shares in Kumho Resort, also held a board meeting and decided to sell their shares in Kumho Resort.

Kumho T&I (48.8%), Asiana IDT (26.6%), Asiana Airport (14.6%) and Asiana Saver (10.0%) own shares in Kumho Resort.

Asiana Airlines owns a 39.3% stake in Kumho Holdings. Kumho Holdings operates Weihai Golf & Resort in China.

View of Yongin Asiana CC [제공=아시아나CC 홈페이지]

After signing an advisory service contract with NH Investment & Securities on September 29, Asiana Airlines is carrying out preliminary preparations, such as the valuation and legal review related to the sale of Kumho Resort.

Kumho Resort, which operates a golf course and resort business, has been at the top of the list since the separate sale of Asiana Airlines was discussed.

Despite the economic recession caused by the aftermath of Corona 19, golf course sales sold at a price that exceeded expectations.

Kumho Resort operates a national golf course (Yongin Asiana CC), four condos (Tongyeong, Hwasun, Seorak, and Jeju resorts), and a water park (Asan Spavis).

The main property is Asiana CC in Yongin. It has 36 holes at a 670,000 pyeong site. It is known that this golf course was managed at the highest level by the former president of the Kumho Asiana Group, Park Sam-koo.

The industry predicts that Asiana CC alone can trade for around 200 billion won. Kumho Resort’s total asset value is 500 billion won.

Asiana Airlines plans to use the proceeds from the sale of Kumho Resort to pay off debts.

Asiana Airlines said: “As part of ensuring liquidity and improving the financial structure of the company, it is necessary to preventively promote the sale in the midst of the Corona 19 situation.” I will promote it. “

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