Bitgwang Electronics Launches Full-Scale Development of Luxury Condominium Hotel at Alpensia, the "Alps of Asia"

Alpensia Resort in Pyeongchang, Gangwon Province, which served as the central hub of the 2018 PyeongChang Winter Olympics, has reached a new turning point. On August 13, Bitgwang Electronics announced that it will officially begin developing a world-class premium integrated resort in partnership with Alpensia Resort, utilizing 38,745 square meters of key land.

Alpensia Resort, located at an altitude of 700 meters and often referred to as the "Alps of Asia," is a leading mountain resort in South Korea. It boasts the scenic beauty of the Baekdudaegan mountain range and world-class facilities that were proven during the Winter Olympics.

Currently, approval procedures are underway for the construction of a high-end accommodation facility at the site, which will consist of two basement floors and six above-ground floors, totaling 173 units and a gross floor area of 55,867 square meters. All units will be large-scale, ranging from 281 square meters (approximately 85 pyeong) to 479 square meters (approximately 145 pyeong), maximizing luxury value. Starting with this, the company plans to gradually establish top-tier leisure infrastructure that can be enjoyed year-round. The goal is to begin sales in the first half of next year.

To ensure the success of this project, Bitgwang Electronics is actively pursuing partnerships with top luxury hotel brands.

Last month, Bitgwang Electronics held an extraordinary general meeting and added domestic and international real estate sales and golf course operations to its new business objectives, as well as deciding to acquire related land. The company stated that it is in close discussions with global luxury hotel chains to secure the highest level of operational expertise for the new facilities. Through these efforts, the aim is to transform the area into an all-season integrated resort that caters to both families and corporate clients, going beyond a simple vacation destination.

Bitgwang Electronics has outlined a long-term vision to develop this site into a world-class premium resort. Beyond simply providing accommodation, the company plans to offer visitors a diverse range of experiences by combining the existing Alpensia Resort with content such as culture, arts, wellness, and MICE (Meetings, Incentives, Conventions, Exhibitions). This is expected to become a key driver in attracting both domestic and international tourists and maximizing the resort's value.

KH Group, which has maintained an unbroken record of success in real estate, stated that this large-scale development will also contribute to mutual growth with the local community.

Once the project is fully underway, it is expected to significantly boost the local economy in Pyeongchang by creating new jobs and attracting tourists. In addition, the company plans to promote sustainable development by strengthening programs linked to local specialties and culture.

A KH Group representative stated, "With its unrivaled symbolic location within Alpensia, we will introduce a new dimension of leisure culture. We are committed to working closely with world-class global partners and growing together with the local community to establish a landmark that represents South Korea."