Gaw Capital Partners is among several parties that have submitted binding bids for GS Engineering & Construction Corporation's 67.6% stake in Parnas Hotel Co., Ltd., three people with direct knowledge of the matter said. The deal is seen worth around KRW 600-800 billion, two of the people said. Other bidders include Mirae Asset Financial Group and IMM Private Equity, Inc., one of the sources said.

Grand Korea Leisure Co., Ltd. said in a regulatory filing it had participated in Gaw's bid. Veritas Investment Co., Ltd. had also joined Gaw Capital's bid as an investor, two of the sources said. GS Engineering, Mirae Asset and Gaw Capital declined to comment.

IMM declined to comment.