Paradise SegaSammy, a major subsidiary of Paradise Co., has delayed the scheduled acquisition date for the Grand Hyatt Incheon West Tower.
According to the disclosure, the acquisition date has been moved from October 31st, 2025, to December 19th, 2025. The change was made to align with the revised progress schedule of pre-closing requirements.
The asset in question is the Grand Hyatt Incheon West Tower, specifically the building, as the land remains under the ownership of Incheon International Airport Corporation.
The acquisition price is set at KRW210 billion ($146.9 million), and the counterparty to the transaction is Kal Hotel Network Co., Ltd.
Paradise SegaSammy explained that the purpose of the acquisition is to strengthen its competitiveness as an integrated resort operator and to expand demand from overseas tourists, thereby securing a foundation for sustainable growth.
The board of directors approved the decision on September 23rd, 2025. At that time, outside directors and auditors were noted as present. The acquisition represents 5.34 percent of Paradise Co.’s consolidated total assets as of year-end 2024.
Paradise SegaSammy itself holds assets of KRW1.58 trillion ($1.1 billion), accounting for 40.22 percent of the parent company’s consolidated assets.
