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Wire Journal News

April 12, 2018

Here’s an item you don’t see every day: cable company sells posh country club

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Consus Muju Pinestone PF Real Estate, a subsidiary of South Korea’s major wire supplier, Taihan Electric Wire Co., has sold Pinestone Country Club for 78 billion won ($73.4 million).

Per media accounts, Taihan Electric Wire reported that its real estate investment fund agreed to sell the 680,000-sq-m site in Dangjin, South Chungcheong Province Tongyang Leisure and Line Industry. The site includes a golf course and adjacent buildings.

Built in 2006, Pinestone Resort is wholly owned by Consus Muju Pinestone PF Real Estate, in which Taihan Electric Wire has a 71% stake. Taihan said it plans to shed more of its noncore assets so it can focus on its mainstay electric wire business to boost profitability.

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