JYP Entertainment will construct a new integrated building in the Gangil area of Godeok-dong, Gangdong-gu, Seoul.
JYP Entertainment announced on October 24 that it won a tender for 10,675㎡ of land for distribution and sales facilities in Godeok Gangil District for 75.5 billion won from Seoul Housing and Urban Innovation Corporation (SH Corporation). The successful bid amounts to 18.37% of total assets.
JYP Entertainment said the purpose of the transfer was “to acquire tangible assets (land) for the construction of a new office building“, and explained: “It is to increase work, efficiency and productivity by securing physical space and expanding integrated offices due to long-term business expansion.”
JYP Entertainment‘s current office building is located near the Olympic Park in Seongnae-dong, Gangdong-gu, Seoul. In 2018, JYP Entertainment purchased and moved into the offices for approximately KRW 20.2 billion to consolidate offices, rehearsal rooms and recording studios that had been scattered.
JYP Entertainment includes the groups TWICE, ITZY and STRAY KIDS, among others.
Journalist: Shawn
Translator: Shawn
Source: SNS JYP Entertainment
