Hanwha Galleria has secured land for a full-scale real estate development project by purchasing a site in the Sinsa-dong area of Gangnam-gu, Seoul, for approximately KRW 236.7 billion.

According to Hanwha Galleria on the 13th, the company disclosed through a board of directors meeting held on the same day that it had decided to acquire the land located at 633-3 Sinsa-dong, Gangnam-gu, Seoul, for KRW 236.7 billion (236,700,000,000 won). This amount is equivalent to 11.73% of the company's total assets (KRW 2,017,139,654,400) based on the consolidated financial statements as of the end of 2025. The company plans to diversify its business and enhance profitability by securing land for real estate development.

The counterparty to the transaction is Hana Asset Trust. The scheduled date for signing the main contract is July 14, 2026, and the acquisition reference date and scheduled registration date have been set for September 11, 2026.

The purchase price consists of a down payment of KRW 23.67 billion and a balance of KRW 213.03 billion. Hanwha Galleria plans to raise the funds through its own capital and borrowings from financial institutions, and it has been confirmed that the actual down payment was already paid on July 8.

In connection with this transaction, the company received an external evaluation from Daejoo Accounting Corporation regarding the appropriateness of the asset acquisition price and obtained an opinion stating that it is 'appropriate.'

To ensure the efficient promotion of the project in the future, Hanwha Galleria is actively considering a plan to establish a special purpose company (SPC), such as a project financing vehicle (PFV), and then transfer the relevant land or related rights to it.

Meanwhile, the disclosed acquisition amount does not include incidental acquisition costs such as taxes, public dues, and fees. The company added that the transaction schedule and payment schedule may be subject to change following consultations with the counterparty and relevant institutions.