[Sponsored Report] Resort to rise in BJFEZ

The memoranda will lead to the development of a major resort complex.

South Gyeongsang Governor Kim Tae-ho and Kim Moon-Hee, commissioner of the Busan-Jinhae Free Economic Zone Authority signed a memorandum of understanding with the Jinhae city government and a group of builders to develop the Ungdong Tourism & Leisure District on Tuesday.

Youngwon-STX Consortium will invest 307 billion won in about 2.3 million square meters of reclaimed land in Ungdong District. A 30-hole public golf course, a water park and a marina will be built from 2010 to 2013, with a deluxe hotel, a casino, a foreign hospital and foreign educational institutions to follow from 2016 to 2018.

Also another memorandum was signed with American firms. USDG shall invest $50 million to develop an eco-friendly resort in Ungdong. Acrylic Tank Manufacturing will invest $50 million to establish an aquarium and water park. Turner International will provide necessary technical skills.