Golfzon Co., Ltd. agreed to acquire land and building in Seoul City from Shinil Engineering Co. Ltd. for KRW 73.5 billion.
May 31, 2012 at 12:00 am EDT
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Golfzon Co., Ltd. (KOSE:A121440) agreed to acquire land and building in Seoul City from Shinil Engineering Co. Ltd. (KOSE:A014350) for KRW 73.5 billion on May 31, 2012. As part of the land and building, Golfzon Co., Ltd. is acquiring 68-22, Cheongdam-dong, Gangnam-gu, Seoul for KRW 41.9 billion and 68, Cheongdam-dong, Gangnam-gu, Seoul for KRW 31.6 billion. The Board of Directors of Shinil Engineering resolved the transaction on May 31, 2012. The deal is expected to complete on June 25, 2012.
GOLFZON NEWDIN HOLDINGS Co., Ltd., formerly GOLFZONNEWDIN Co., Ltd., is a Korea-based company mainly engaged in the development of golf game software. The Company and its subsidiaries are engaged in the provision of golf simulators, including swing plates, golf simulator online services, online screen golf services, golfzon live managers, as well as operation of golf courses. It also provides simulator maintenance services and distributes golf supplies. The Company provides online services through Golzon.com, which enables customers to watch real-time swing motion videos and ranking information during game rounds, and access to golf column for golf learning articles and event information. It supplies its products within domestic market and to overseas markets.
GOLFZON NEWDIN HOLDINGS CO., LTD. 
