Hyangji Fashion Group is restructuring its major real estate assets in Songdo and Busan to secure investment funds and foster future growth in senior tech and other emerging sectors.
On July 30, Hyangji announced its plans for a strategic rebalancing of its real estate holdings. The company aims to enhance the utilization of non-core assets to increase cash liquidity, which will be redirected into new business ventures.
The rebalancing includes the Hyangji Global Fashion Complex in Songdo and the Busan Art Mall. The Hyangji Global Fashion Complex spans approximately 64,000 square meters and combines office and retail spaces, located near Incheon University Station.
The Busan Art Mall features eight underground floors and 17 above-ground floors, offering a mixed-use lifestyle space for shopping, dining, culture, healthcare, and wedding services. It recently underwent a major renovation to enhance its competitive edge and asset value.
Additionally, the Hyangji Square in Saha District, the Hyangji Gaepo Building and Hyangji Gangnam Vision Center in Gangnam District, and land in Yongin and Hwaseong are also included in the efficiency drive.
Hyangji has begun selecting a professional advisory firm for asset sales and restructuring. The company expects to secure liquidity worth billions of won through this rebalancing, given the inclusion of key landmark properties.
The funds raised will be invested in five key growth areas: wearable robots, physical humanoid clothing, advanced functional materials and smart textiles, global research and development collaboration, and AI-based fashion and distribution platforms, as well as digital transformation and international market expansion.
In particular, the company plans to develop senior tech as a core new business, anticipating increased demand due to the aging population. Wearable robots that assist the elderly with mobility and rehabilitation will be positioned as a next-generation growth driver.
Previously, Hyangji Robotics, a subsidiary focused on robotics, signed a technology collaboration and exclusive domestic commercialization agreement with Shanghai Zhongshuai Robot Co., Ltd. in China. The two companies had entered into a joint research and development agreement for senior-customized wearable robots in January and are now preparing for domestic distribution and sales.
A Hyangji representative stated, "We will concentrate the secured investment capacity on five key future growth areas, including wearable robots and smart textiles, to establish a sustainable foundation for next-generation growth."
* This article has been translated by AI.
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