Alpha Holdings Accelerates New Business with Real Estate Sale... "Resolving Litigation Uncertainty"

[Asia Economy Reporter Jang Hyowon] Alpha Holdings announced on the 18th through a public disclosure that it sold real estate located in Pangyo Technovalley to SPMC, an affiliate of Smilegate Group.

This real estate sales contract was made abruptly as both parties agreed to reflect the market price of Pangyo Technovalley regarding the previously disputed sale price.

Accordingly, all lawsuits between the two companies, including the ownership transfer registration claim filed by SPMC in June, have been mutually withdrawn, eliminating all uncertainties caused by litigation for Alpha Holdings.

Including this sale to SPMC, Alpha Holdings sold Pangyo Technovalley real estate for a total of 32 billion KRW this year, achieving a 256% return over 12 years compared to the approximately 9 billion KRW invested at the time of acquisition in 2009.

Based on the proceeds from this sale, Alpha Holdings plans to expand investments in its core businesses and new ventures such as AI semiconductors and insurance comparison services, including increased image sensor projects due to the expanded market share of upstream businesses and increased mass production for new fabless customers.

An Alpha Holdings representative stated, “Since we already acquired a site for our office building in Second Pangyo last year, we intended to sell the Pangyo Technovalley real estate at a good price, and we are pleased to have sold it to Smilegate Group at a fair value. We plan to use the sales proceeds to increase investments not only in our core system semiconductor sector but also in new business areas such as artificial intelligence (AI) semiconductors, which we have been promoting for several years.”