JEJU-DO < invest Korea

According to Yonhap News,

(JEJU=Yonhap News)Greenland Group, the investor of Jeju Healthcare Town, will begin the second stage of the project such as constructing the medical facilities.

Jeju Free International City Development Center (JDC, Chairman Kim Han-wook) announced on July 28 that the Center has reached an agreement with Greenland Group to adopt the medical facilities earlier than planned after eight months of negotiations.

The second stage of the project is worth KRW 850 billion and comprises medical research and development (R&D) center for plastic surgery, aesthetics and researches, medical facilities such as an anti-aging center and a healing garden, health science garden, water park and healing spiral hotel for health and exercise.

Greenland Group and JDC have reached a business agreement to build Jeju Healthcare Town with about KRW 1 trillion of investment in October, 2012. The two have agreed to proceed the project in stages on 778,000 ㎡ of land among the total land of 1,539,000 ㎡. The first stage of the project is the construction of a resort condominium with KRW 120 billion.

China’s Greenland Group is a state-owned company that has high brand recognition in China. Therefore, JDC hopes Greenland Group will contribute to revitalizing the regional economy by attracting VVIP clients from China who can create value added in medical tourism.

JDC is in negotiations with Seoul National University Hospital to adopt a healthcare center and plans to attract project developers for specialized hospitals and rehabilitation centers that are not invested by Greenland Group.

ksb@yna.co.kr

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