JYP announced on October 24th that it has won a bid for 10,675㎡ of distribution and sales facility land in Godeok-dong, Gangdong-gu, Seoul, for about 75.536 billion won from the Seoul Housing City Corporation (SH Corporation).
Regarding the purpose of the site acquisition, the company explained, “It is for the construction of a new building.”
Previously, in 2018, JYP Entertainment was moved to an office building in Seongnae-dong, Gangdong-gu, Seoul, which was purchased for about KRW 20.2 billion. It is equipped with the latest K-pop-related facilities such as recording studios and practice rooms, and is especially famous for the organic cafeteria that producer Park Jin-young is proud of.
The company’s new office building in Godeok-dong is expected to be the largest in Korea.
Meanwhile, JYP’s current market capitalization is 3.78 trillion won, the second-largest in the Korean entertainment industry.