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- Investment News
Incheon Mayor Song Yeong-gil inked a memorandum of understanding (MOU) with a representative of the U.S. Triple Five to establish a worldwide shopping center Mall of Korea in Yeongjongdo, Incheon, during his visit to New York in mid-May.
A luxurious hotel, entertainment shopping mall, theme park, and convention center will be built in the 660,000 square meter-Mall of Korea.
A 100% foreign-invested corporation will be established in Songdo, Incheon in July to conduct the project. A total of 1.5 trillion won including USD 500 million to be financed by foreign investment will be injected into the project.
Triple Five is a California-based multinational conglomerate and diverse development and finance corporation that operates America's most recognized landmark Mall of America and West Edmonton Mall, listed in the Guinness Book of World Records as the world's largest shopping center in 2011.
** This is the translation of a Korean article.