JEJU-DO < invest Korea

According to Yonhap News,

(JEJU=Yonhap News) Saudi Arabia's billionaire Prince Alwaleed bin Talal said he will consider investing in South Korea's resort island of Jeju, the provincial government said Tuesday.

The prince made the remark during a meeting with Won Hee-ryong, governor of Jeju island, at Gimpo airport, just west on Seoul, on Monday.

The wealthiest Arab in the world visited South Korea to discuss bilateral cooperation with Prime Minister Hwang Kyo-ahn and then left the country later the same day.

Sarmad Zok, the chairman and chief executive officer (CEO) of Kingdom Hotel Investments (KHI), who was also at the meeting, said the Four Seasons Hotel is looking for business opportunities on the resort island. Prince Alwaleed is the largest shareholder of the Four Seasons chain.

"Four Seasons Hotel became more famous after it hosted a match between (South Korean world Go grandmaster) Lee Se-dol and (Google DeepMind's) AlphaGo," Won said, referring to the match which took place in mid-March. "We will give full support (to the Four Seasons' plan)."

Prince Alwaleed is a cousin of the current Saudi King Salman bin Abdulaziz Alsaud and the founder of Kingdom Holding Company (KHC), one of the leading investment companies in the world. KHC operates 18 hotels in 13 countries worldwide.

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