Daeyu A-Tech Mongber CC Sold to Donghwa Group for About 300 Billion KRW

Daeyu ATEC announced on the 3rd that its subsidiary Smart Holdings has decided to transfer all goodwill related to the operation of the golf course Daeyu Montberre Country Club (Montberre CC) to Empark Co., Ltd.

The sale amount is 300 billion KRW. The transferred business includes land, buildings, and ancillary facilities related to the golf course business.

[Photo by Daeyu A-Tech website]

The company stated, "The purpose of the transfer is to secure funds for debt repayment," and added, "We expect to increase future value and strengthen financial stability through debt repayment using the secured funds."

Empark is a great-grandchild company of Donghwa Group and a 100% subsidiary of Hankook Ilbo, operating a used car trading complex.