April 26, 2024

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[THE INVESTOR] Korean mid-sized conglomerate Dayou Group said on June 12 it has signed a deal to sell its electronic arm’s research center as it moves to normalize the affiliate it took over earlier this year.

Dayou signed the deal to sell Daewoo Electronics’ research center in Incheon, west of Seoul, for 15.1 billion won (US$14 million) last week, two months after it sold the electronic company’s logistics center in Seongnam, south of the capital, for 18.3 billion won.

Dayou has been working on stabilizing Daewoo Electronics, which it took over in February.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)