GANGWON-DO < invest Korea

According to Gangwon Province, the province, Yangyang County and the Golden Beach Resort signed an investment agreement to build a tourism complex at the Yangyang International Airport to strengthen tourism infrastructure and promote investment.

Following a regular flight between Yangyang and Shanghai introduced last month, the investment agreement is expected to contribute to foreign tourist attraction and regional economy facilitation by establishing a world-class tourism complex which has leisure and shopping facilities and accommodations on a 2.30 million m2 site.

With three concepts of sightseeing, sports and shopping, KRW 317.6 billion will be invested in a 2.2242 million mw site to establish a tourism complex which will has a condominium, pensions, hotels, an outlet mall and a water park.

The investment is also expected to support successful 2018 Pyeonchang Olympics and make the Yangyang International Airport as a hub in Northeast Asia.

The complex is also forecasted to contribute to regional economy and household income growth by creating new jobs for local residents, generating more revenue and ensuring stable supply of agricultural products.

A Gangwon official noted that the province plans to facilitate the region by consistently expanding investment in tourism facilities which has a large economic effect across the region.

Source: Newsis (Sep. 9, 2013)

** This article was translated from the Korean.