Tongyang Integrates Business Development Divisions... Diversifies into AIDC and Senior Housing
On September 1, Tongyang, a KOSPI-listed company under Eugene Group, announced its plans to consolidate its business development divisions and diversify related businesses, including artificial intelligence data centers (AIDC), senior housing, and content production infrastructure.
Tongyang will integrate the functions related to business development, which it has been pursuing, into a single organization to enhance specialization from business planning to development and management, and to accelerate the pace of project execution. The company aims to actively identify high-profitability sectors by utilizing its idle land and the group’s financing capabilities, and will expand its business development portfolio to better respond to market demand.
The company is pursuing various business development projects, such as AIDC, content production infrastructure, and senior housing. In the content sector, it is advancing the content production infrastructure business through Studio Eugenia, and the AIDC business is being developed across five different regions in the Seoul metropolitan area.
The first AIDC project, the Bucheon Samjeong AI Hub Center, commenced construction in May and has completed orders for core infrastructure equipment. The second project, the Incheon Guwol AI Hub Center, has obtained construction approval and is being promoted with a target of breaking ground this year. The company is also addressing the growing demand for senior housing by advancing relevant development projects.
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A representative from Tongyang stated, "By integrating our dedicated business development divisions, we plan to further strengthen the driving force and expertise behind our various projects. We will actively promote development projects in promising fields such as AIDC, content production infrastructure, and senior housing, and foster them as new growth engines by creating synergies with our existing businesses."
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