Monayongpyeong's Operating Profit Increased 26% YoY to 26.9 Billion KRW Last Year... "Both Resort and Sales Businesses Are Doing Well"

Mona Yongpyeong announced its 2024 performance through a public disclosure on the 21st.

On a consolidated basis, Mona Yongpyeong recorded an accumulated operating profit of approximately 26.9 billion KRW last year. This represents a 26% increase compared to 2023. Sales revenue was recorded at about 267.7 billion KRW, showing a 26.5% increase compared to the same period last year. The company explained that the growth trend continues in its main business areas, including the resort operation business and the sales business.

By business segment, sales revenue from the resort operation business segment was approximately 148.5 billion KRW, up 7.2% year-on-year, serving as a stable source of income. In the sales business segment, the construction of the premium condo Lusongchae progressed smoothly, resulting in sales revenue of 119.2 billion KRW, a 63% growth compared to last year.

The company also noted that the seasonal sales variance in the resort operation segment is decreasing based on a content diversification strategy to maximize the appeal of all four seasons. In 2017, the second quarter sales, considered a relatively off-season, were about half of the first quarter sales, which is the highest sales period of the year, due to a surge in ski resort visitors. In contrast, this year’s second quarter sales grew to about two-thirds of the first quarter sales.

Mona Yongpyeong plans to expand its F&B (Food and Beverage) business based on the stable profit structure of its existing resort and sales businesses. In July last year, it established a new corporation, Yongpyeong Valley Co., Ltd., developing various products including food and beverage items reflecting the characteristics of the Daegwallyeong area and PB (Private Brand) products, while also conducting promotions in department stores and other venues.

A company representative stated, “Despite unstable external conditions such as the construction industry downturn, our leisure content diversification strategy has been effective, and we achieved good results through sales recognition of Lusongchae condos. We will secure growth momentum through new projects such as the ‘Gochang Comprehensive Theme Park.’ In addition to our existing business areas, this year will be a leap forward for our F&B business, with plans to promote product development and global market expansion.”