Samyang Foods Cancels Plan to Acquire Land and Buildings Worth 100 Billion KRW in Yongsan-gu

Samyang Foods announced on the 30th that it has decided not to proceed with the purchase of land and buildings worth approximately 100 billion KRW located in Hangangno 2-ga, Yongsan-gu.

Samyang Foods Headquarters. Samyang Foods

On November 12 last year, Samyang Foods had stated that it would acquire land and buildings in Hangangno 2-ga valued at 103.5 billion KRW to secure property for business and rental purposes. At that time, Samyang Foods explained that the acquisition was intended as a long-term investment and had announced plans to complete the purchase by the 30th of last month.

However, on this day, Samyang Foods held a board meeting and decided to withdraw this plan. This decision was made because the transaction conditions between the contracting parties were not met.