This article was published on Apr. 21, 2026, at 4:33 p.m. on the ChosunBiz MoneyMove (MM) website.
Kolon Glotech is reviewing the sale of its artificial turf business. It is seen as a move to dispose of noncore assets as part of a groupwide portfolio reshuffle. The company is said to have begun early work for a sale, including tapping for interest from private equity fund (PEF) managers.
According to the investment banking (IB) industry on the 21st, Kolon Glotech is in behind-the-scenes talks with potential buyers with a sale of the artificial turf business in mind. However, it is still in the premarketing stage to gauge market reaction, and a full-fledged sale process has not yet started.
Kolon Glotech, established in Mar. 1987, is an affiliate of Kolon Group. The company operates an automotive materials business producing seat covers and airbag fabrics, an artificial turf manufacturing business, and golf course and hotel/resort operations. Kolon Industries is the largest shareholder with an 80.69% equity stake.
Based on last year, the artificial turf business posted about 69.3 billion won in sales, accounting for roughly 28% of total revenue. Its market share also reaches 42%. However, it recorded an operating loss of about 400 million won over the same period. As public tenders were delayed after the "'12·3 martial law," orders from the Public Procurement Service were depressed, which is seen as having had an impact.
This is not the first time Kolon Glotech has pursued a sale of the artificial turf business. It previously attempted a sale and contacted potential investors.
However, this sale is being relaunched amid a groupwide business reshuffle, giving it a different significance. Kolon Group has been reorganizing its portfolio around core materials, including integrating the automotive materials business into Kolon Industries.
In particular, after carving out the automotive materials business, Kolon Glotech's business structure has been simplified around artificial turf, leisure, and real estate. As the group's strategy focuses on strengthening competitiveness in materials and chemicals, the artificial turf business is seen as having been classified as a noncore asset and put on the block.
Kolon Group is also carrying out asset securitization. Commercial real estate such as hotels and a talent development center, including Ujeong Hills CC operated by Green Narae, a Kolon Glotech subsidiary, are also up for sale. At the same time, noncore asset disposals are proceeding in parallel, such as offloading mobility platform company Papamobility and a Gwangju logistics warehouse.
The artificial turf business is cited for its strength of securing stable demand based on the public sector, including schools and sports facilities. However, its high dependence on the public market and limited growth potential are cited as factors leading to mixed evaluations among investors.