Hanul & Jeju Withdraws Decision to Acquire 25.5 Billion Won in Tangible Assets

Hanul & Jeju, a company specializing in the production of craft premium beer, announced on December 18 that it has completely withdrawn its decision to acquire tangible assets worth 25.5 billion won. The company will receive a full refund of the 14 billion won deposit already paid, thereby eliminating uncertainties related to large-scale cash outflows.

Previously, on November 27, the company’s largest shareholder decided to acquire land and buildings located in Gujwa-eup, Jeju Island for 25.5 billion won, aiming to secure new growth engines and diversify revenue streams through business expansion. However, criticism arose as the property was originally acquired in 2022 for 10 billion won, raising concerns over the high acquisition price.

A company representative stated, "The cancellation of this real estate acquisition was decided after the company’s management and the largest shareholder amicably agreed to terminate the sales contract. During the contract process, additional risk factors were identified, and after a comprehensive review of all relevant matters, we decided to preemptively block potential future losses and ensure stable business operations."

With this decision, the company will prevent cash outflows and secure financial liquidity. The largest shareholder has also eliminated uncertainties associated with aggressive new business investments. This move is considered a decision that minimizes concerns among shareholders and investors, resolves uncertainties for the company, and prioritizes shareholder value above all else.

Hanul & Jeju stated, "We sincerely apologize to our shareholders and investors for any confusion caused," emphasizing, "This measure completely resolves legal and accounting uncertainties and was taken with the utmost priority on shareholder value and investor protection."