Daegwallyeong Sheep Ranch (CEO Jeon Young-dae), the No. 1 experience ranch in Korea, is up for sale.
According to the investment banking (IB) industry on the 24th, Daegwallyeong Sheep Ranch, a cotton farm located in Daegwallyeong-myeon, Pyeongchang-gun먹튀검증, Gangwon-do, is selling 100% of its shares.
Daegwallyeong Sheep Ranch has recorded the highest cumulative number of visitors in the past 10 years, 5.37 million, among the three competing companies, including Samyang Ranch and Sky Ranch. It has never missed the top spot in the number of visitors every year. It is located near various tourist attractions such as Seonjaryeong, Five Mountains National Park, and Yongpyong Resort, so it has excellent connectivity as a tourist product.
Founded in 1988, Daegwallyeong Sheep Ranch converted to a corporation in 2015. CEO Jeon Young-dae, who is 70 years old, founded Daegwallyeong Sheep Ranch in 1988 after witnessing the neglected ranch facilities at a Daegwallyeong cattle ranch he happened to visit and wondering how to add value to the ranch as a tourist destination by utilizing its natural resources.
The ranch is located on Forest Service land that is available for rent at almost no cost. Since its establishment, the ranch has stably leased 60,000 square meters of land owned by the Forest Service for over 35 years. It pays virtually no rent (2.45 million won per year for the entire site in 2022). The dairy experience ranch business has been struggling since the COVID-19 pandemic due to a drop in visitors, but the number of visitors has recently recovered to pre-COVID levels.
It is also possible to develop private land (idle land) here. There is a private land of 1800 pyeong (about 6000 square meters) within a 5-minute walk from the ranch entrance. The site can be developed in conjunction with the ranch and surrounding tourist destinations such as Seonjaryeong and Odaesan National Park.
Starting next month, the company plans to generate additional revenue of KRW 900 million per year based on 500,000 visitors by charging for hay for feeding experiences. It is also expected to diversify revenue by operating a cafe and selling souvenirs after repurposing some of the sites in the ranch in 2025.