Shinwon Comprehensive Development to Invest 250.5 Billion KRW in High-End Resort in Namhae

Shinwon Comprehensive Development recently announced at an investment agreement ceremony held in the Gyeongnam Provincial Government Office conference room that it will establish a global luxury brand hotel-resort in Namhae County. Park Wan-su, Governor of Gyeongnam Province (from the left), Kim Seong-min, CEO of Shinwon Comprehensive Development. Photo by Shinwon Comprehensive Development

Shinwon Comprehensive Development is investing 250.5 billion KRW to build a "global high-end brand resort" in Namhae-gun, Gyeongsangnam-do by 2028.

According to related industries on the 21st, Kim Seong-min, CEO of Shinwon Comprehensive Development, recently announced this through an investment agreement ceremony with Gyeongsangnam-do. At the event, CEO Kim explained, "We plan to attract a high-end brand not yet available domestically and develop it to become a landmark." The resort will be built on an 81,772㎡ site in Pyeongsan-ri, Nam-myeon, Namhae-gun.

Namhae-gun also added, "We will promote tourism activation and regional economic development by diversifying tourism industry infrastructure."

After hearing their explanation, Park Wan-su, Governor of Gyeongsangnam-do, said, "Namhae is a world-class tourist destination," and added, "The provincial office, county office, and investment office must work together to ensure a world-class resort is established in Namhae." He emphasized, "If a project is created, the province will directly step in to support it."

Established in 1983, Shinwon Comprehensive Development Co., Ltd. is a mid-sized company listed on the KOSDAQ market. It mainly operates in apartment villas and public office facility construction, with apartment brands such as 'Achimdosi' and luxury housing brand 'Upper House.'

Meanwhile, six other companies participated in the investment agreement ceremony alongside Shinwon Comprehensive Development. Their total investment scale amounts to 505 billion KRW. It is expected to create 430 jobs accordingly.

Governor Park said, "The companies that signed the investment agreement today have outstanding competitiveness in their respective fields," and added, "I hope this investment agreement will be an opportunity to grow together in harmony with the region, and the province will actively support it." Gyeongsangnam-do attracted 9.5762 trillion KRW last year, achieving the highest record ever.