Acquisition at City Hall and Osiria Tourist Complex in Gijang at 2:40 PM on the 14th... Agreement Signed Between City, Hotel Shilla, and East Bay
Mayor Park Hyung-jun: "This acquisition will be an opportunity for Busan to take a step forward as a global tourist city"
On the 14th at 2:40 PM, Busan City will sign a Memorandum of Understanding (MOU) with Hotel Shilla and East Bay at the City Hall International Protocol Room to mutually cooperate on the construction and operation of a hotel following the attraction of ‘Shilla Monogram’ within the Gijang Osiria Tourism Complex.
The MOU includes cooperation on building a prestigious hotel within the Osiria Tourism Complex, providing high-quality hotel services, revitalizing the tourism complex, and supporting regional win-win programs.
The signing ceremony will be attended by Mayor Park Hyung-joon, Hotel Shilla Vice President Lee Jung-ho, and East Bay CEO Song Chang-seok.
‘Shilla Monogram’ is a 5-star upper upscale hotel brand that harmoniously blends the uniqueness of the top-tier hotel brand ‘The Shilla’ with the local lifestyle.
Currently, there are no operating locations of ‘Shilla Monogram’ in Korea, with only one overseas location in Da Nang, Vietnam. ‘The Shilla’ operates two hotels in Seoul and Jeju Island, and the business hotel ‘Hotel Shilla Stay’ has 15 locations nationwide, including two in Busan?Haeundae and Myeongji.
The family resort development project (tentatively named 'Shilla Monogram Busan') by East Bay is located in Sirang-ri, Gijang-gun, with a site area of 30,519㎡, a total floor area of 106,864㎡, 3 basement floors, and 26 above-ground floors. It will feature 238 rooms of a special first-class tourist hotel and 240 resort condominium units. Construction is scheduled to begin in July 2025 and complete in November 2028.
‘Shilla Monogram’ in the Osiria Tourism Complex will be a family vacation-oriented hotel & resort with a concept reflecting a sophisticated local lifestyle harmonized with the sea and the unique regional culture of Busan, offering sea views from all hotel and resort rooms.
The top-tier domestic hotel company ‘Hotel Shilla’ will operate both the 5-star hotel and condominium facilities. The architectural design will be carried out by a world-renowned foreign hotel design firm.
With ‘Shilla Monogram’ entering the Osiria Tourism Complex, it will join the currently operating ‘Ananti Cove’, ‘Village de Ananti’, and the ‘Banyan Tree’ scheduled to open next year, establishing the complex as a premier luxury resort destination.
Mayor Park Hyung-joon stated, “If well-known and quality hotels continue to enter the Osiria Tourism Complex and these companies fulfill their social responsibilities contributing to the local community alongside our city, it will greatly help enhance corporate images and revitalize the tourism complex.” He added, “Furthermore, this will serve as an opportunity for Busan to take a step forward as a ‘global tourism city.’”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
