Shinsegae Chosun Hotel Inc. agreed to acquire Leisure Business Division of Shinsegae Engineering & Construction Inc. from Shinsegae Engineering & Construction Inc. (KOSE:A034300) for approximately KRW 180 billion on February 14, 2024. The consideration consists of KRW 181.962 billion in cash. As part of the consideration, KRW 181.962 billion was paid towards assets.

The transaction is expected to complete on April 29, 2024. As of April 26, 2024, the transaction is expected to close on June 30, 2024.