Operator News
Korea – Landing to spend additional US$300m on Jeju Shinhwa World
By Phil - 22 September 2017
Landing International is to inject an additional investment amount of approximately US$300m into its subsidiary Landing Jeju Development for the development of Jeju Shinhwa World, the first
premium integrated resort in Jeju.
The total amount invested in the project has now increased to more than US$1.5bn, which is the largest Foreign Direct Investments (FDI) for a one-stop integrated resort in the history of Korea.
The development of JSW has been progressing on schedule since its ground breaking in February 2015. Following the opening of Somerset Jeju Shinhwa World, the first worldclass full-serviced resort condominium in Jeju Island in April, JSW has announced that its Shinhwa Theme Park will be opened to the public on 30th September 2017, offering 15 exhilarating rides and attractions themed by TUBAn, a well-known local animation IP creator in Korea. YG Town, operated by YG Entertainment, will feature a themed bar and cafe designed by Korean celebrity G-Dragon, and is expected to launch soon in November 2017.
The official opening of JSW will be on December 8 2017, when the remaining facilities including Marriott Resort Jeju Shinhwa World and Landing Hotel, MICE centre, themed restaurants and food streets, retail mall and casino will be opened to the public.
The entire development of JSW is expected to be completed by the end of 2019, when the luxury Four Seasons Resort & Spa, and the first Hollywood movies inspired outdoor theme park Lionsgate Movie World are scheduled to be ready for operation.
The total number of employees in JSW are currently approaching 1,300. By the end of 2017, JSW will be home to approximately 2,100 employees. It is expected that the number of employees will increase to around 5,000 when JSW is in full operation by the end of 2019.
