Yongpyong Resort Reports 3.5 Billion KRW Operating Profit in H1... "Maintaining Profitability Trend"

Yongpyong Resort announced on the 16th that it maintained a positive operating profit trend with a cumulative operating profit of 3.5 billion KRW for the first half of this year based on consolidated financial statements. During the same period, the net loss was 2.3 billion KRW, significantly improving from approximately 7.3 billion KRW in the previous year. Sales increased by 29.3% compared to last year, reaching 79 billion KRW.

A representative from Yongpyong Resort stated, “Although performance recovery temporarily stalled due to external factors such as seasonal influences and rising prices, we have achieved favorable results on a cumulative basis for the first half following a large-scale turnaround in the first quarter. In the second half of the year, we expect meaningful annual results through increased sales in the sales division driven by the construction progress of the premium condo Lusongchae and efforts to improve profitability.”

Yongpyong Resort, which has seen an increase in visitors since reopening, is achieving quantitative growth through a simultaneous rise in average spending per customer. The annual number of visitors last year was approximately 2.6 million, already surpassing the pre-COVID-19 level of 2019. More than 1.5 million visitors have come through the first half of this year, continuing the upward trend. The average spending per customer also showed encouraging growth, increasing by 6.9% and 14.8% year-on-year in the first and second quarters, respectively, to 122,986 KRW and 102,674 KRW.

Yongpyong Resort expects the sales recognition from ‘Lusongchae,’ which began construction and sales last October, to positively impact profits this year and next as construction progresses. The company’s strategy is to accelerate growth through the stabilization of operations and the phased additional sales of premium condos.

Based on thorough demand analysis for premium condos, the company plans to sequentially construct Antinue (scheduled to start construction next year), D.Locus (2026), and Pilecen (2028) on land within Yongpyong Resort Village. Additionally, to promote mid- to long-term growth, large-scale resort projects are being considered in nearby Gangneung and Gochang, Jeonbuk, aiming to expand nationwide coverage and enhance brand competitiveness.

Yongpyong Resort emphasized, “We will present a mid- to long-term vision through stable recovery and growth of operating sales driven by the reopening boom and expansion of the sales business. We will secure business competitiveness by leading cost reduction systems for profitability and expanding ESG management.”