JW Pharmaceutical Decides to Sell Land in Hwaseong City Worth 60.8 Billion KRW

[Asia Economy Reporter Kang Nahum] JW Pharmaceutical announced on the 5th that it will sell idle land to Shinhan Bank, the trustee of "Koramco Specialized Private Real Estate Investment Trust No. 126 (hereinafter Koramco Trust)."

The sale target is approximately 67,433㎡ of land located at 146-38, Annyeong-dong, Hwaseong-si, Gyeonggi-do, with a sale price of about 60.8 billion KRW. Payment is scheduled to be completed on the 8th of this month.

The company stated, "Out of the 60.8 billion KRW sale proceeds, 10 billion KRW will be invested in the logistics center project fund promoted by Koramco Trust," and added, "The remaining 50.8 billion KRW will be used for loan repayment and research and development (R&D) investment funds."