5.37 Million Visitors Over 10 Years... Surpassing Competitors Like Samyang Farm and Haneul Farm
Only 2.45 Million KRW Annual Rent for 60,000 Pyeong Forest Service Land
'Daegwallyeong Sheep Ranch Co., Ltd. (CEO Jeon Young-dae)', the number one domestic experiential ranch brand power, is up for sale.
According to the investment banking (IB) industry on the 24th, Daegwallyeong Sheep Ranch Co., Ltd., an experiential sheep ranch located in Daegwallyeong-myeon, Pyeongchang-gun, Gangwon-do, is selling 100% of its existing shares.
Among three competitors including Samyang Ranch and Haneul Ranch, Daegwallyeong Sheep Ranch recorded the highest cumulative visitors in the last 10 years with 5.37 million visitors. It has never lost the number one spot in annual visitor count. This is thanks to its excellent connectivity as a tourism product, being located near various tourist attractions such as Seonjaryeong, Odaesan National Park, and Yongpyong Resort.
Established in 1988, Daegwallyeong Sheep Ranch Co., Ltd. converted to a corporation in 2015. CEO Jeon Young-dae, who is 70 years old this year, founded Daegwallyeong Sheep Ranch after witnessing the neglected ranch facilities at a dairy cow ranch in Daegwallyeong he happened to visit in 1988, and contemplating ways to add value as a tourist destination by utilizing the natural resources.
The ranch land is a Korea Forest Service site that can be used at nearly free rent. Since the establishment of the ranch, it has stably leased about 60,000 pyeong (approximately 198,000㎡) of land owned by the Korea Forest Service for over 35 years. It pays rent close to free (annual rent for the entire site was 2.45 million KRW in 2022). The dairy experience ranch business had faced difficulties in operation as visitor numbers declined after the COVID-19 pandemic, but recently the number of visitors has recovered to pre-pandemic levels.
Development of private land (idle land) here is also possible. It owns 1,800 pyeong (about 6,000㎡) of private land within a 5-minute walk from the ranch entrance. This land can be developed in connection with the ranch and nearby tourist attractions such as Seonjaryeong and Odaesan National Park.
Starting next month, the ranch plans to generate an additional annual revenue of 900 million KRW based on 500,000 visitors by charging for hay used in feeding experiences. After changing the use of some parts of the ranch land in 2025, diversification of revenue through operating cafes and selling souvenirs is also expected.
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