Daehan Jeadang is selling Princess Golf Club for 104 billion KRW to Fine & Partners as part of its strategy to improve financial health and liquidity.

Target Information

The target of this transaction is Princess Golf Club, located in Gongju, South Korea. Owned by Gongju Development, a subsidiary of Daehan Jedang, Princess Golf Club is a public golf course that opened in August 2007 and features 18 holes. The course is strategically situated just five minutes from the Jeongan IC in Chungcheongnam-do, which makes it accessible for both locals and visitors. In 2023, Gongju Development reported revenues of 13.7 billion KRW and a net profit of 3.8 billion KRW, showcasing a solid financial performance. As of last year, the company had accumulated a total revenue of 9.2 billion KRW and a net income of 1.9 billion KRW, with total assets amounting to 57.8 billion KRW.

Industry Overview in South Korea

The golf industry in South Korea has seen significant growth over the past few decades, becoming a popular recreational activity among various demographics. The country boasts a robust number of golf courses, with players increasingly drawn to the sport due to the enhanced lifestyle associated with golfing, along with its social and professional networking opportunities. The maturing market has also prompted the emergence of innovative golf facilities and advanced golf technologies, enhancing the overall experience for players.

In recent years, there has been a shift in the demographic of golf players in South Korea, with an influx of younger players taking up the sport. This trend has stimulated demand for more accessible and varied golfing experiences, including