BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) Busan will establish a world-class marina facility in the Busan North Port redevelopment zone by 2018.

The Busan Port Authority (BPA) announced December 1 that it will sign an agreement on the use of port facilities with Singapore Marina Company, SUTL in next January.

SUTL plans to invest KRW 65 billion in the project and the construction will begin in January 2016. The company will build a clubhouse, ship mooring facilities and a yacht academy by the first half of 2018 and operate them for 35 years.

The BPA expects the economic effect of the operation of the marina facilities to reach KRW 2.2 trillion and job creation effect of 22,000 workers.

SUTL, established in 1965, is a global leisure and development investment company that has built 21 marina clubs and network in 11 countries.

SUTL operates ONE 15 Marina Club in Sentosa in Singapore, which has been chosen as the best Asian Marina of the year in 2009 and 2014.

SUTL plans to attract the Volvo Ocean Race in 2020, one of the famous yacht races in the world.

osh9981@yna.co.kr

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Source Text

Source: Yonhap News (December. 01, 2014)

** This article was translated from the Korean.