Invest KOREA

According to Yonhap News,

(INCHEON=Yonhap News) The Incheon Port Authority (IPA) signed a memorandum of understanding (MOU) with Bizpost Korea, a subsidiary of Bizpost Group in the United States, on September 10 to promote the Golden Harbor project.

The MOU is a follow-up to the memorandum of agreement signed last April in Beijing, China between Bizpost Group and China’s JD Capital and Pan-China Construction Group to invest KRW 11 trillion (USD 936 million) in the Golden Harbor development project.

With Bizpost Group standing surety for Bizpost Korea, Bizpost Korea plans to borrow money for investment purposes from JD Capital Group. Pan-China Group, with the investment, will build hotels and condominiums on 440,000 ㎡ of land in the Golden Harbor region.

Golden Harbor (759,456 ㎡), which will be located north of Songdo International City, will be home to a comprehensive tourism complex comprising hotels, condominiums, resotels, a shopping mall, water park, marine center and convention halls.

The IPA plans to begin operating the facilities in 2017, once a new international passenger wharf and terminal are built.

son@yna.co.kr

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