[비즈한국] Kolon Group is accelerating its business restructuring (rebalancing). It has been confirmed that Kolon Glotech, a subsidiary of Kolon Industries, finalized the sale of its artificial turf and car mat business unit on the 22nd. Having previously transferred its automotive materials and parts business to Kolon Industries, this latest sale marks Kolon Glotech's full exit from the materials business. Consequently, Kolon Glotech’s core business focus is shifting toward leisure and real estate leasing. As Kolon Group continues to reorganize operations among its affiliates, attention is now turning to the future role and strategic direction of Kolon Glotech.
It has been confirmed that Kolon Glotech, a material-specialized affiliate of Kolon Group, completed the sale of its artificial turf and car mat business division on the 22nd. Ahead of the sale, Kolon Glotech spun off the artificial turf and car mat business into a new entity named Apex Kolon on October 15. The initial CEO of Apex Kolon was appointed as Kwon Young-hoon, the CEO of Kolon Glotech.
On August 28, Kolon Glotech signed a stock purchase agreement to sell a 100% stake in Apex Kolon for 40 billion won. The buyer is New Field No. 1 New Technology Business Investment Fund, a fund established by Hana S&B Investment on the 7th. According to a disclosure by Kolon Glotech on the 23rd, the investment fund acquired Apex Kolon by creating a new company called LHI New Field.
Participants in the acquisition of Apex Kolon include Lotus Private Equity, Hana S&B Investment, and Ingenium Equity Partners. Lotus Private Equity is a private equity fund where Jung Ji-yeon (44), the eldest daughter of HL Group Chairman Chung Mong-won and executive at HL Holdings, and her younger sister Jung Ji-soo (31), an executive at HL Mando, each hold a 50% stake.
Hana S&B Investment is a new technology business finance company 100% owned by Hana Materials, a KOSDAQ-listed advanced materials and parts firm that has been investing in semiconductors, secondary batteries, healthcare, and retail platforms. Ingenium Equity Partners is a private equity fund for institutional investors operated by CEO Oh Je-gyun, formerly of Korea Investment & Securities.
Founded in 1987, Kolon Glotech is 99.8% owned by the chemical and materials firm Kolon Industries. Its business sectors are broadly divided into automotive materials (such as car mats), living materials (artificial turf), leisure (golf course operations), hotel and resort operations, and leasing. Among these, golf course operations are managed by its subsidiary, Green Narae.
Performance has been driven by the automotive and living materials businesses; in the second quarter of 2026, automotive materials accounted for 59.6% of total revenue, while living materials accounted for 31.4%. The remaining business sectors—leisure, hotel/resort operations, and leasing—accounted for less than 10% of revenue combined.
The divestment of Kolon Glotech’s business units is part of the group’s rebalancing efforts. In 2024, Kolon Industries absorbed Kolon Glotech's automotive materials and parts division through a spin-off, aiming to strengthen expertise in that sector. At that time, the spin-off significantly reduced Kolon Glotech’s revenue. While Kolon Glotech's revenue in the automotive materials sector reached 787 billion won in 2024, it plummeted to 131.1 billion won in 2025, the year after the spin-off. During the same period, the company's total revenue shrank from 942.5 billion won to 246.7 billion won.
With the sale of Apex Kolon and the removal of the artificial turf business, which previously recorded annual sales of 60 to 70 billion won, Kolon Glotech is restructuring its core operations around the leisure and real estate leasing sectors. The company's overall scale is expected to shrink significantly following this reorganization, as the 2025 revenue for leisure operations was only 42.3 billion won, and revenue for hotels, resorts, and leasing totaled 3.9 billion won.
Regarding the future direction of Kolon Glotech, the holding company, Kolon, stated, "As the group's rebalancing is still ongoing, we will need to monitor the situation," adding, "Since golf course operations and the hotel/resort sector remain, we intend to continue with the remaining businesses for now."
Currently, Kolon Group is pursuing its rebalancing under the leadership of Vice Chairman Lee Kyu-ho, the eldest son of Kolon Honorary Chairman Lee Woong-yeul. The group is working on restructuring affiliates and consolidating fragmented business units. Vice Chairman Lee serves as an internal director at key affiliates, including Kolon Industries, Kolon Mobility, and Kolon Global, as well as at the holding company.
Kolon Industries is also in the process of selling its business units related to display coating liquids and semiconductor packaging materials. On the 12th, Kolon Industries disclosed, "We are in the process of negotiating a stake transfer for the relevant business units and signed a memorandum of understanding (MOU) with IMM Private Equity on July 13 to establish basic terms before signing a definitive agreement," adding that "we are currently discussing specific conditions."