DP International and Sinist Sign 1 Trillion Won Investment MOU with U.S. Clearbrook for Yeongjongdo Integrated Aviation Complex Development

DP International, a domestic real estate development company participating in the integrated aviation complex development project in Yeongjong International City, Incheon, and Sinist, an IT company, have signed a memorandum of understanding (MOU) with a U.S. investment firm for investment cooperation worth up to 1 trillion won.

On the 28th, a three-party MOU signing ceremony was held at the Construction and Transportation Committee Chairman's Office on the 5th floor of the Annex Building of Incheon Metropolitan City Council in Namdong-gu, Incheon, involving DP International, Sinist, and Clearbrook.

On the 28th, at the Construction and Transportation Committee Chairman's Office on the 5th floor of the Annex Building of Incheon City Council in Namdong-gu, Incheon, (from left) Kaptai Choi, Standing Advisor of DP International, Seungman Yoon, Chairman, and Elliot Wisler, Chairman of Clearbrook, took a commemorative photo after signing the MOU. DP International.

Attendees at the MOU signing ceremony included Seungman Yoon, Chairman of DP International; Kaptai Choi, Standing Advisor; Kyungtae Shin, CEO of Sinist; Elliott Wislar, Founder and CEO of Clearbrook; and Hyungchan Kim, Vice Chairman, among others.

The MOU stipulates that the three companies will cooperate on the Yeongjongdo Aviation and Cultural Complex Development Project, which is being carried out in Yeongjongdo, and details the form and execution method of investments targeting up to 1 trillion won.

The MOU also outlines the roles of each party: DP International will oversee the project, handling various permits and approvals, selection of construction and operating companies, and execution of key contracts; Clearbrook will propose investment and financial structures that meet the target amount and negotiate funding terms; and Sinist will serve as the overall project coordinator, managing and resolving issues among the parties.

On the 28th, at the Construction and Transportation Committee Chairman's Office on the 5th floor of the Incheon Metropolitan City Council Annex in Namdong-gu, Incheon, (from left) Choi Gaptae, Standing Advisor of DP International, Yoon Seungman, Chairman, Elliot Whisla, Chairman of Clearbrook, and Shin Kyungtae, CEO of Sinist, took a commemorative photo after signing the MOU. DP International.

DP International is currently promoting the 'First Class City' development project on the CB1 and T1 sites in the Yeongjongdo Special Planning Zone in Jung-gu, Incheon, covering 322,886 square meters (approximately 97,673 pyeong), which will include an arena, officetels, hotels, and more. Recently, in connection with the government's (Ministry of Culture, Sports and Tourism) plan to build a large-scale performance arena in the Seoul metropolitan area, DP International submitted a business plan to the Incheon Free Economic Zone Authority to construct a 70,000-seat arena, the largest in Korea, in Yeongjong International City.

Since its establishment in 2004, Clearbrook has built a reputation as one of the most trusted global asset management and advisory firms. Headquartered in New York City, it manages and advises on assets exceeding $13 billion. Together with its four subsidiaries registered with the U.S. Securities and Exchange Commission (SEC), Clearbrook operates Clearbrook Energy Solutions, a newly established energy company focusing on commercial battery industries such as Battery Energy Storage Systems (BESS) and Virtual Power Plants (VPP). With a corporate culture grounded in entrepreneurship, collaboration, and high growth potential, Clearbrook operates across North America, Asia, and Europe, providing forward-looking investment solutions to global institutions, family offices, and pioneering investors.

Before the MOU signing ceremony, Elliott Wislar, Chairman of Clearbrook, created a warm atmosphere by sharing that his father was a Korean War veteran and that he himself competed as a member of the U.S. national sailing team at the 1988 Seoul Olympics.

Aerial Perspective of Yeongjongdo Integrated Aviation Complex Project. DP International

Currently, a project to establish an integrated aviation and cultural complex is underway in Yeongjongdo, Incheon, with participation from foreign investment development companies and Korean Air, a leading aviation company.

Previously, in May 2024, Incheon Metropolitan City and the Incheon Free Economic Zone Authority signed an MOU with U.S. real estate developer Panepinto Global Partners, Korean Air, and others to develop an integrated aviation and cultural complex in Yeongjongdo.

Attendees at that signing ceremony included Jeongbok Yoo, Mayor of Incheon; Joseph Panepinto Jr., CEO of Panepinto; Seungjun In, Senior Executive at Korean Air; and Youngran Kim, CEO of DP International, among others.