Jeju Free International City Development Center (JDC) inked a 450 billion won-investment memorandum of agreement (MOA) Wednesday with Korea’s SEOWOO-China’s Zhong Da Consortium, selected the priority negotiator for the Jeju Healthcare Development Project.

The project is designed to build a rehabilitation hospital, a nursing home, a wellness center, an international resort and other facilities on a 178,000 square meter-site in the 1.539 million square meter-Health Care Town.

JDC already signed a 1 trillion won-investment agreement with another Chinese company Greenland Group in last October to build a wellness center, a medical R&D center, resort and cultural facilities and accommodations in the Health Care Town.

If completed, the Jeju Health Care Town Project is expected to generate 1.8 trillion won-production, 440 billion won-income and employments.

Source: Newsis (Feb. 6, 2013)

** This is the translation of a Korean article.