Real Estate 114 to Merge with HDC; Business Divisions Transferred to HDC Labs

Dissolution of Real Estate 114 Entity Seven Years After Acquisition
Software Business Transferred to HDC Labs
Pangyo Office and Other Assets to Be Managed by Holding Company HDC

Real Estate 114 will be merged into its holding company, HDC. The brokerage platform and real estate data business divisions will be transferred to HDC Labs. Seven years after being acquired by HDC Group, the legal entity of Real Estate 114 will disappear into history.

HDC Labs will acquire the brokerage platform and real estate data business division, which are the core businesses of Real Estate 114. Provided by HDC Group

On April 18, HDC Group announced that it would undergo a structural reorganization to expand new businesses and drive group-level digital transformation (DX).

The merger process between the holding company HDC and Real Estate 114 is scheduled to be completed by April 30. HDC currently owns 100% of Real Estate 114's shares.

Real estate assets such as the Pangyo office, which are owned by Mirae BI, a subsidiary of Real Estate 114, will be managed by the holding company HDC, which already manages multiple real estate properties.

The core business divisions of Real Estate 114, including the brokerage platform and real estate data?both software-related businesses?will be transferred to HDC Labs, which has strong business relevance.

According to HDC Group, this move is expected to create synergy for HDC Labs by reducing the financial burden associated with real estate acquisitions.

HDC Labs will secure Real Estate 114's vast real estate data and accelerate its transformation into an AI service provider. HDC plans to further solidify its position as the group's holding company.

An HDC Group representative stated, "This restructuring is a decision for the group's long-term growth and digital transformation. We expect it to be a significant turning point for growth by combining HDC Labs' AIoT capabilities with Real Estate 114's extensive data and experience." The representative added, "HDC Group will continue to create new customer value through digital transformation and technology-driven innovation."