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Grand Korea Leisure to Invest KRW168.8 Billion to Renew Gangnam COEX Lease Through 2035

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Grand Korea Leisure (KRX:114090) plans to invest 168.8 billion won to renew the lease for its existing Gangnam COEX business site upon expiration of the current lease agreement, according to a Thursday filing with the Korea Exchange.

The new facility investment aims to ensure stable operations across the business site and maintain the operating base. The investment covers lease payments for the period through Oct. 4, 2035, excluding value-added tax, management fees, taxes, and public dues, the filing said.

The new lease agreement is scheduled to be valid from Aug. 21, it said.

Shares of the casino operator fell nearly 4% in recent trade.

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