Taekwang No. 1 Real Estate Investment Trust Co., Ltd. agreed to acquire Courtyard by Marriott Seoul Namdaemun Hotel from KT&G Corporation for approximately KRW 250 billion.
Taekwang No. 1 Real Estate Investment Trust Co., Ltd. agreed to acquire Courtyard by Marriott Seoul Namdaemun Hotel from KT&G Corporation (KOSE:A033780) for approximately KRW 250 billion on November 13, 2025. A cash consideration of KRW 254.2 billion will be paid by Taekwang No. 1 Real Estate Investment Trust Co., Ltd. As part of consideration, KRW 254.2 billion is paid towards common equity of Courtyard by Marriott Seoul Namdaemun Hotel.
The expected completion of the transaction is December 17, 2025.
KT&G Corp is a Korea-based company principally engaged in the manufacture and sale of tobaccos. The Company operates its business through four segments. The Tobacco segment manufactures cigarettes under the brand name of esse, raison and the one, and sells them in overseas markets such as the Middle East, Central Asia and Russia. The Ginseng segment manufactures red ginseng products, red ginseng roots and cosmetics. The Real Estate segment engages in the sale and leasing business of real estate. The Other segment involves in the manufacture and sale of pharmaceuticals and cosmetics.
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Taekwang No. 1 Real Estate Investment Trust Co., Ltd. agreed to acquire Courtyard by Marriott Seoul Namdaemun Hotel from KT&G Corporation for approximately KRW 250 billion.
