MODE Tour Real Estate Investment Incorporated agreed to acquire Sutton Hotel Co., Ltd from Shinhan Bank for approximately KRW 23.2 billion on May 22, 2014. Board of Directors of MODETOUR Network Inc., parent of MODE Tour Real Estate, made a resolution in favor of the transaction on May 22, 2014. The transaction is subject to approval of Fair Trade Commission. The transaction is expected to close on May 30, 2014.


MODE Tour Real Estate Investment Incorporated completed the acquisition of Sutton Hotel Co., Ltd from Shinhan Bank on May 30, 2014.