Distribution of Letter of Intent for Acquisition of 'Hildrosai CC' Begins... Final Bidding on 27th Next Month

The entire assets and goodwill of Hildroseide Country Club (Hildroseide CC), an 18-hole public golf course in Hongcheon-gun, Gangwon-do, owned by the Engineering Mutual Aid Association, will be sold through a public competitive bidding process.

According to the investment banking (IB) industry on the 21st, Deloitte Anjin Accounting Corporation, the lead manager for the sale of Hildroseide CC, began distributing the Letter of Intent (LOI) guide and officially started the sales process from today.

The deadline for submitting Letters of Intent is next month on the 1st, and preliminary due diligence will be conducted from the 5th to the 22nd. Final bid documents, including the bid proposal, will be accepted on the 27th of next month. For more details, please refer to the announcement on the Engineering Mutual Aid Association’s website.

Hildroseide CC is an 18-hole public golf course with a site area of 2.09 million square meters (approximately 630,000 pyeong), featuring a clubhouse, restaurant, banquet hall, pro shop, and night lighting equipment (for the last three holes of each course).

It has the Birch and Pine courses, totaling 6,787 meters in length. Designed to preserve the original forest, the landscaping within the course harmonizes with the natural woodland. Since its opening, it has hosted several major tournaments, including the KLPGA NEPS Masters and the KPGA Dong-A Pharmaceutical-Dong-A ST Championship.

Hill de Loci, meaning 'Hill of the Gods' in Latin.

As of September this year, green fees range from 170,000 to 180,000 KRW on weekdays and 210,000 to 240,000 KRW on weekends.

Hongcheon-gun, Gangwon-do, where Hildroseide CC is located, is adjacent to the Seoul-Yangyang Expressway, Jungbu Inland Expressway, and Jungang Expressway, and lies on the border between Gyeonggi-do and Gangwon-do.

To the west, it is accessible within about an hour from major densely populated metropolitan areas such as Seoul, Namyangju, Goyang, and Seongnam. It can be reached within approximately 50 minutes from Seoul Gangil IC. To the east, accessibility is excellent to Wonju and Chuncheon, where many development projects are planned, via the Jungang Expressway.

One advantage is the availability of additional developable condominium land. The condominium site area is 78,165 square meters (approximately 23,645 pyeong).

Hildroseide CC opened as a members-only golf course in 2011 and converted to a public course in 2016. It is owned by the Engineering Mutual Aid Association, and the operating corporation is Easy G Leisure.

Meanwhile, Deloitte Anjin, the lead manager for the sale, previously successfully sold the 18-hole public Owners Golf Club (GC) located in Chuncheon, Gangwon-do, to Carlon Investment Asset Management.