Golf Course and Cable TV Business Unwelcome

Golf courses and cable TV businesses are now unwelcome. It was long considered a very profitable business field but that changed with the IMF bailout. Since that time owners have put golf courses and cable businesses on the market but nobody is buying them.
The portion of the businesses for sale in the M&A market is 18% but nothing has been contracted. An M&A expert said, 'The offerings for sale lined the road but the price gap was too wide between sellers and buyers.'
According to M&A experts, a third of cable TV businesses were offered for sale and a local broadcasting company is also looking for new owners. In Seoul, a system operator company owner put his business on the market for 20,000 won per share (17 billion won in total) but nobody even looked at it. Even the cable TV channels, Dasom Broadcasting and Dong Ah TV have failed to honor checks issued to creditors. However Park Man Kyu, an M&A consultant said, 'Some foreign investors want to cooperate with Korean companies but more deregulation in this field is necessary.'
Golf courses have been offered for sale during restructuring moves in chaebols. A 150 billion dollar golf course dropped in price to 50 billion dollars but no offer was made.