[비즈한국] It has been confirmed that HJ The Ocean Resort is pushing to sell its entire stake in Mona Yongpyong. Both HJ The Ocean Resort and Mona Yongpyong are affiliates of the Tongil Group, widely known for the Family Federation for World Peace and Unification (Unification Church). HJ The Ocean Resort operates The Ocean Resort in Yeosu, Jeollanam-do, while Mona Yongpyong is the operator of Yongpyong Resort.
Mona Yongpyong's shareholders consist of the Unification Foundation with 35.99%, HJ Magnolia Yongpyong Pine Ridge Golf & Resort with 5.65%, and HJ The Ocean Resort with 4.16%. HJ The Ocean Resort is pursuing the sale of its entire 4.16% stake in Mona Yongpyong. Given the current shareholder structure, the sale of this stake is not expected to significantly impact Tongil Group's management control over Mona Yongpyong.
HJ The Ocean Resort stated that it is selling the stake to improve its financial standing. According to audit reports, HJ The Ocean Resort recorded operating losses of 3.7 billion KRW and 6.4 billion KRW in 2024 and 2025, respectively. Revenue also decreased by 2.58% from 36.5 billion KRW in 2024 to 35.6 billion KRW in 2025. HJ The Ocean Resort is also engaged in development projects in the Hwayang district, having started construction on the Hwayang District Beach Condo in Yeosu last year.
Mona Yongpyong's current stock price is fluctuating between 2,700 and 3,000 KRW. The 4.16% stake corresponds to 2 million shares, which is estimated to be worth between 5.4 billion and 6 billion KRW at current prices. Once sold, the proceeds would be enough to offset HJ The Ocean Resort's operating losses from last year.
However, Mona Yongpyong's stock price has been on a downward trend recently. The closing price on January 2, the first trading day of the year, was 3,400 KRW. If the stock price falls further, the sale price for HJ The Ocean Resort's stake is also expected to decline. Mona Yongpyong has also seen a decline in performance, with revenue falling 32.47% from 70.7 billion KRW in the first quarter of last year to 47.7 billion KRW in the first quarter of this year.
HJ The Ocean Resort stated that no specific buyer has been decided yet. Regarding the stake sale, an official from HJ The Ocean Resort said, "The primary goal is debt repayment, and we are continuously meeting with relevant parties to discuss the sale."