China invests in South Korea
South Korea will have a new tourist attraction developed by LongRunn International.
South Korea.- Authorities in South Korea are planning to approve a new development near the Incheon International Airport area which could be operated by the Chinese resorts and gaming company, LongRunn International. The Asian industry continues to grow as Japan prepares to enter the regional market, which could position the country as one of the strongest competitors on the continent.
South Korea is therefore strengthening its market with the approval of a new project, Diamond City. LongRunn International, a Chinese real estate and resorts developer, would invest over US$4.5 billion in the property. The company has already purchased a parcel of land where the facility would be installed for US$80 million.
The project would be developed by LongRunn in partnership with China state-owned enterprises and a prominent listed HK real estate developer, and would include residences, a 7-star hotel, casino, office tower, retail mall, schools, medical and aesthetics centre, interactive world cultural avenue, K Pop hub and theme parks.
Meanwhile, the American native tribe Mohegan Sun has launched a new casino in South Korean that offers international services such as a foreigner-only casino, three hotel towers with a total of 1,350 rooms, a 15,000-seat arena, a theme park, convention space, and shops and restaurants.
