Construction to Begin in April Next Year, Opening Targeted for 2029
New 29-Story Building with 307 Guest Rooms
The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Koo Choonggon, hereinafter referred to as Gwangyang FEZ Authority) announced that it will officially begin the development of a five-star global brand hotel within the Yeosu Gyeongdo Marine Tourism Complex.
The Gyeongdo Marine Tourism Complex is a specialized marine tourism district being developed in Daegyeongdo, Gyeongho-dong, Yeosu, with an area of 2.15㎢ and an investment of approximately 1.5 trillion KRW. The area is being equipped with various resort, golf course, and marina facilities, as well as other leisure and recreation infrastructure.
The Gwangyang Bay Area Free Economic Zone Authority is set to actively develop a 5-star global brand hotel within the Yeosu Gyeongdo Marine Tourism Complex. Gwangyang Economic Authority
Gwangyang FEZ Authority is developing this area into a multi-purpose tourism complex with accommodation, shopping, and leisure functions to establish it as the center of the southern coastal tourism belt.
The project operator, Mirae Asset Consortium, invested 25 billion KRW to secure the site for the new hotel and began construction of the new Gyeongho Elementary School in 2023. The school is scheduled for completion in April 2025, and classes in the new building will begin in the second semester of the same year.
The hotel to be built in the Gyeongdo Marine Tourism Complex will have 29 floors above ground and 307 rooms. In December of last year, it was selected as the first global luxury brand hotel in the Honam region, and a fund was established to secure the project budget. The hotel will also feature facilities such as a grand ballroom, seminar rooms, indoor and outdoor swimming pools, and restaurants.
The hotel design will be selected through an international competition targeting world-renowned architectural firms. The building will reflect a landmark-level design, with construction scheduled to begin in April 2026 and opening targeted for 2029. This is expected to not only increase the number of domestic and international tourists visiting Yeosu and the Honam region but also enhance the brand value of the area.
Koo Choonggon, Commissioner of Gwangyang FEZ Authority, stated, "With the official launch of the Gyeongdo five-star hotel project, the development of the Gyeongdo Marine Tourism Complex is now on track," adding, "We will ensure that Gyeongdo becomes the center of the southern coastal tourism belt and a leading tourist destination in Jeonnam."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
