- HDC Hyundai Development Company completed the process of acquiring management rights of
Hansol Development Co., Ltd. and changed its name to HDC Resort Co., Ltd.
- Aims to leap forward to become an all-season leisure resort complex through developing unused sites and step-by-step renewal
- Plans to develop additional 27 holes including public golf courses to have a total of 90 holes, the largest in South Korea.

 HDC Resort (CEO Young Hwan Cho) announced a new CI and aim to leap forward again in full-scale.
 
 As HDC Hyundai Development Company paid KRW 58 billion to Hansol Development Co., Ltd. for the stock price and concluded the process of acquiring the management rights of Oak Valley, “Hansol Development Co., Ltd.” was officially changed to “HDC Resort Co., Ltd.” on 28th and a new CI was declared.
 
 Although Oak Valley has been the best golf course and resort brand in South Korea for over 20 years, it was looking for a buyer due to operational problems such as chronic deficit and insufficient investment capacity. Oak Valley is the largest resort (11.35 million m2) in South Korea with leisure facilities mainly for golf and ski. Golf facilities (63 holes) include a membership golf course (Oak Valley CC (36 holes), Oak Hills CC (18 holes) and a public golf course (Oak Creek GC (9 holes)). Snow Park is composed of nine sky slopes. It also has lodgment with 1,105 rooms.

 HDC Resort and HDC Hyundai Development Company plan to develop Oak Valley into the best premium resort in South Korea through bold investment.
 
 The golf course will be expanded to 90 holes, the largest in South Korea. Additional 18 holes will be newly developed for the public course, and Oak Creek GC will have another 9 holes. Consequently, Oak Valley will be a mammoth-class golf resort with the largest golf course in South Korea. It will strategically absorb the golf demand of Seoul and vicinities by providing various course experiences to golfers, since the accessibility of Oak Valley has been increased due to the opening of the 2nd Yeongdong Expressway.
 
 At the same time, the company plans to modernize existing facilities, develop new facilities such as a boutique hotel and an art village, and add experiential activities such as ‘Forest Adventure’. The company will create a leisure resort complex where customers can enjoy special experiences. In addition, the company will provide diverse services by increasing the level of service, developing contents with local flavors, and integrating marketing efforts with the hotel and resort section of the HDC Group.

 Young Hwan Cho, CEO of HDC Resort, said, “We will stabilize the company as soon as possible by improving the profitability. Moreover, we will develop Oak Valley as a premium resort that provides special experiences and high-quality services for customers by integrating the know-how of the HDC Group, the experience of operating high-end global hotels, and the contents of various subsidiaries.” He also encouraged the employees, “We have to make a passionate and creative organization full of various ideas to meet the expectations of our customers. Let’s work together to stabilize the company.”

 The acquisition of Oak Valley is a part of HDC Hyundai Development Company’s future portfolio diversification strategy. After splitting the holding company last year, HDC Hyundai Development Company has diversified its future portfolio by concentrating on in-house development and infrastructure development as well as the expansion of operational businesses such as leisure and commercial facility development and lease. Prior to the acquisition of Oak Valley Resort, the company has expanded its business to not only the development of hotels and resorts but also the operation of them through its subsidiary, Hotel HDC. It has successfully run Park Hyatt Seoul, Park Hyatt Busan, wellness resort Park Roche at Jeongseon, and IPARK Condominium in Seoraksan Mountain.

 On the other hand, HDC Group, which HDC Hyundai Development Company belongs to, has made various efforts to connect the businesses of the group such as lease and operation management, IT, culture, and financial contents based on the housing platform through the cooperation between group subsidiaries and to establish a unique business model of HDC, which is different from conventional construction business model. The company is making mid- to long-term investments in various areas, including the acquisition of Real Estate 114 in February 2018. The acquisition of Oak Valley will also strengthen the leisure sector.