Seoul, South Korea – The South Korean conglomerate, Daemyung Sono Group, has completed the acquisition of the C-dong tower of the Lwest City complex in the Magok district of Seoul for approximately 300 billion won (approximately $225 million USD), according to multiple sources in the real estate sector.
The purchase, finalized in July 2025, marks a significant expansion for the leisure and hospitality-focused group, and signals a strategic shift towards consolidating its operations within the burgeoning Magok business hub. The 15,000-pyeong (approximately 5,000 square meter) C-dong will serve as an integrated headquarters for Daemyung Sono and its key affiliates, potentially consolidating staff currently dispersed across multiple locations, including a previous headquarters in Songpa-gu.
The acquisition comes after Daemyung Sono’s earlier investment in T’way Air, and is viewed by industry analysts as a move to capitalize on synergies between the two entities. The company is reportedly planning to relocate key functions to Magok, accelerating a broader organizational restructuring. The Lwest City complex, located near Magoknaru Station on the Airport Railroad line, is a large-scale mixed-use development comprising four towers – A, B, C, and D – built on a 31,824.30 square meter site. The complex features 63 elevators and parking for 2,468 vehicles.
Daemyung Sono’s purchase of the C-dong tower is also notable within the context of the broader commercial real estate market. The company has gained a reputation for stepping in to acquire distressed or underperforming assets, a trend highlighted by its recent investment in the EOD (Iota Seoul) project and its successful exit from The Palace 73. This pattern has led some observers to characterize Daemyung Sono as a “rescuer” in the commercial property sector, bolstering market confidence.
The sale of the C-dong tower was preceded by Daemyung Sono’s plans to sell its existing headquarters, Sono Tower in Munjeong-dong, Songpa-gu. The 16-story building, with a total floor area of 34,100 square meters, is currently being marketed for sale with an estimated value of 250 billion won. Proceeds from the sale of Sono Tower are expected to fund the Lwest City acquisition.
The move to Magok is expected to further integrate Daemyung Sono’s diverse business portfolio, which includes leisure facilities, hotels, and now, airline operations. The company has not yet announced a specific timeline for the full relocation of its operations to the Lwest City complex, nor detailed plans for the integration of T’way Air’s functions into the new headquarters.
