Korean conglomerate completes purchase of Makaha Valley Resort
By Duane Shimogawa 8/5/22
MAKAHA, Hawaii (KITV4) — A Korean company, Thursday, closed on the sale of more than 600 acres of land in Makaha Valley in Leeward Oahu for $21.7 million, an attorney involved in the deal confirmed to KITV4 News.
The 644-acre bankruptcy sale of the Makaha Valley Resort sale comprises of entitled, master-planned development property, including the Makaha West and East golf courses that have nearly 20 employees.
Chuck Choi of Honolulu-based Choi and Ito, who represents China’s Pacific Links in its bankruptcy case, confirmed to KITV4 that all employees at the golf course have been retained by the buyer. At one time, Pacific Links had inked a deal to work with Tiger Woods to rebuild the western course as part of a larger resort development.
Korea’s KH Group, which has about 10,000 employees and 40 affiliates in 15 countries, has total assets worth more than $1.5 trillion.
The Seoul conglomerate does business in such industries as real estate and technology and innovation.
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