Discussion on Cooperation Plans for Developing a Luxury Tourism Complex with Costa Valley Mona Yongpyong
Creation of Costa Valley, an Integrated Accommodation and Leisure Complex... Building a Tourism Belt on the East Coast
Active Large-Scale Investments in Clinical Hospitals and Luxury Hotels, Accelerating the Expansion of New Growth Foundations
Pohang City is accelerating its strategic efforts to attract private investment for the creation of a stay-type marine tourism city.
On the 16th, Pohang Mayor Lee Kangdeok met with Costa Valley Mona Yongpyong CEO Lim Hakwoon and executives at the Yongpyong Resort office in Seoul to discuss development directions and cooperation plans for the creation of the 'Costa Valley Tourism and Recreation District'.
Lee Gangdeok, mayor of Pohang, held a meeting with Lim Hakun, CEO of Costa Valley Mona Yongpyong, at the Yongpyong Resort office in Seoul on the 16th to discuss cooperation plans. Photo by Pohang City
'Costa Valley' is a luxury tourism complex being developed on a 1.65 million square meter site in Janggi-myeon, Nam-gu, Pohang. The project is led by Costa Valley Mona Yongpyong, a special purpose company (SPC) jointly established by Mona Yongpyong and Jungwon.
The business plan includes a 200-room premium tourist hotel, a 170-room condominium, an 18-hole public golf course, the largest pet park in Korea, a corporate training center, smart racing and deep dive experience facilities, and other top-tier stay-type tourism infrastructure in the Gyeongbuk region.
The entire project is scheduled to be carried out in phases from 2026 to 2028.
Mayor Lee Kangdeok stated, "It is urgent to establish a stay-type tourism belt centered around the Pohang International Exhibition Convention Center (POEX), scheduled for completion in 2026, and linked with Yeongildae, Songdo, and Homigot," adding, "Costa Valley will become a key hub for Pohang's leap as a mega tourism hub on the East Coast."
CEO Lim Hakwoon said, "Based on Mona Yongpyong's experience in operating tourism resorts and its global network, we will foster Costa Valley as the representative stay-type resort in the Yeongnam region," and added, "We will do our utmost to successfully attract 3 million foreign tourists and ensure the project's success."
Pohang City is focusing on the 'Homibando Premium Tourism Special Zone Development Project', which encompasses the areas of Janggi, Guryongpo, and Homigot, including the Costa Valley project.
This area is also linked to the creation of a National Marine Garden and is preparing to become a desirable marine complex tourism destination based on marine resources and historical and cultural content.
In addition, various private investment attraction projects are actively underway, including the establishment of a 'clinical specialized hospital' and a 'wellness resort complex' for the creation of a global corporate innovation park bio-cluster, as well as the construction of 'Hwanho Park and Yeongildae luxury hotels' to vitalize stay-type tourism.
Recently, working-level consultations have been held with numerous private companies to attract investments totaling 5 trillion won, accelerating the construction of a complex city platform that integrates the region's medical, tourism, leisure, and industrial functions.
The city plans to achieve tangible results such as job creation, increased tourism income, and industrial diversification through the successful attraction of large-scale private investment projects, and to transform Pohang from an industry-centered city into a complex marine, cultural, and tourism city.
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