Woongjin Preed Life is making a full-fledged entry into the premium wedding hall business. The plan is to make the premium wedding business a key pillar of its future growth strategy and to ramp up its "total life care platform" strategy that spans the entire customer life cycle.
Woongjin Preed Life said on the 22nd that it has entered the wedding business by joining Keystone Private Equity, a private equity fund (PEF) manager, as a strategic investor in T&W Korea, a premium wedding and catering specialist. Through this, it secured an operating base for premium wedding halls in key commercial areas of Seoul, including Grand Hill Convention (Gangnam), Bottega Maggio (Seongsu) and Wedding City (Sindorim).
These wedding halls have stable operating results, including hosting about 2,000 ceremonies annually, and their strengths include upscale interiors, differentiated services and strong F&B operating capabilities. Based on this operating base, Woongjin Preed Life plans to gradually expand wedding hall locations in key hub areas, taking into account future business performance and market demand.
The wedding business is considered a field with relatively steady ceremony demand and a high value-added structure that combines venue operations, production and food and beverage services. Woongjin Preed Life plans to diversify its service portfolio through the premium wedding business and build a sustainable future business model. In addition to simply operating event spaces, the company plans to unveil a new type of premium wedding hall brand and grow the wedding business into a long-term brand asset.
This move into the wedding business also aligns with Woongjin Preed Life's life care platform strategy. By using marriage as a starting point to connect with younger customers and then expanding service experiences into travel, family events, education and senior care, the company can build long-term relationships with customers. Through this, the company plans to further strengthen a life care structure that connects the entire customer life cycle.
Mun Ho-sang, CEO of Woongjin Preed Life, said, "Entering the wedding business goes beyond simple business diversification and is a core growth driver that accelerates our transition to a life care platform," adding, "We will set new market standards through Woongjin Preed Life's own premium wedding brand."