TEHO International (SGX:5OQ) subsidiary TEHO Ropes Korea entered into a contract with Park Gyu-jin to acquire freehold land in Korea for a consideration of around 3.0 billion won.
The 1,757-square-meter land consists of a building being used as a factory.
The acquisition is part of the group's strategy to expand its marine and offshore segment, according to a filing with the Singapore Exchange on Wednesday.
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