65m Tall Ferris Wheel 'Sokcho Ai' Brings Benefits to Nearby 'Sokcho Howard Johnson' and Others

A giant Ferris wheel named ‘Sokcho Eye’ has opened on the beach in Sokcho, Gangwon Province, establishing itself as a new local landmark.

This Ferris wheel stands 65 meters tall and features 36 cabins, each with a capacity of 6 people. It is the only Ferris wheel in the country located on a beach, offering panoramic views of Sokcho’s blue sea and the spectacular Seoraksan Mountain, which changes with the seasons. Additionally, scenic lighting and sculptures that complement the beach landscape will be installed around the Ferris wheel, and a four-story theme park is planned to be developed alongside it, providing visitors to Sokcho Beach with a unique attraction.

Industry experts anticipate that the opening of this large-scale tourist facility will revitalize the tourism industry in the Sokcho area. Positive responses have already been reported not only from local residents but also from tourists visiting Sokcho from all over the country, with family visitors continuing to arrive. These visitors contribute to the local economy by utilizing nearby accommodations, food and beverage services, leisure, and cultural activities, thereby revitalizing the tourism commercial district itself.

A real estate expert in the Sokcho area stated, “With the expansion of various tourist resources including ‘Sokcho Eye’ in Sokcho, a representative coastal tourist destination in Gangwon Province, real estate values are expected to rise once again.” He added, “As tourist inflow is expected to become more active, inquiries from outsiders about investments in residential lodging facilities and other properties are also increasing.”

Meanwhile, near Sokcho Eye, a residential lodging facility called ‘Sokcho Howard Johnson’ is currently available for sale. This complex is located in Joyang-dong, Sokcho-si, Gangwon-do, with a total of 476 units ranging from 22㎡ to 54㎡ in exclusive area.

This residential lodging facility is situated at the heart of Sokcho’s tourism infrastructure, which attracts over 20 million visitors annually. Tourist attractions such as Sokcho Beach, Expo Tower, Sokcho Central Market, and Daepo Port are concentrated near the project site, and the soon-to-open Ferris wheel and theme park can also be enjoyed nearby.

Notably, this residential lodging facility boasts natural scenic views that Sokcho is proud of. Taking advantage of its rare locational benefits, some units are designed to offer excellent views of Cheongcho Lake, the East Sea, and Seoraksan Mountain. Tourists staying at the facility are expected to enjoy sparkling waves and night views even from indoors.

Furthermore, the ‘Sokcho Howard Johnson’ currently for sale features the Howard Johnson brand from the global hotel group Wyndham. Wyndham Group, a top-tier global hotel brand, operates over 7,500 hotels with 630,000 rooms in 66 countries worldwide, including brands such as Days, Ramada, Wingate, and Wyndham Grand. Since Wyndham Group will manage the operations, a more stable management system is anticipated.

As a residential lodging facility, it is exempt from recently strengthened real estate regulations compared to apartments and officetels. No subscription savings account is required, and there are no restrictions on resale of pre-sale rights. It is also free from heavy taxation on multiple homeowners and from tightened loan-to-value (LTV) and debt-to-income (DTI) ratios.

Sokcho Howard Johnson operates two showrooms, one in Gangnam, Seoul, and another in Sokcho, Gangwon Province.