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A hotel construction project, which the Gyeonggi Provincial Government is implementing at Hallyu World, in Goyang City, is gathering momentum.

The Gyeonggi Provincial Government said on August 24 that it would sign a memorandum of understanding with the HNA Group of China to construct hotels with 1,600 rooms on the A6 site spanning 47,279 sq. meters in Zone 3 of Hallyu World in Ilsanseo-gu, Goyang City in September.

The HNA Group, one of China’s 10 largest private companies, plans to invest 350 billion won in the project to construct a business hotel with 1,100 rooms and a five star hotel with 500 rooms in phases by 2017.  

With the latest deal, project implementers for four of the five sites for the lodging facilities at Hallyu World have been or will soon be picked, speeding up the project to construct the hotels there. The Hallyu World project includes the construction of hotels with a combined 4,000 rooms on the five sites.

On the A2 site in Zone 2, Daemyung Resort is constructing a 377-room hotel with 20 stories and four underground levels. The project, which started in June last year, is slated for completion in June 2013. On the A1 site in Zone 2, Daemyung will construct another hotel with 290 rooms by 2018.

Also, for the A3 site in Zone 3, the Inter-Burgo Group signed an agreement with the provincial government to construct a Dowa Hotel last June and is pushing to construct a hotel with more than 300 rooms.

For the 49,000 sq.-meter A7 site in Zone 3, the Gyeonggi Provincial Government is taking steps to recruit an investor to construct hotels with a combined 1,200 rooms, including a foreign invested tourist hotel with 700 rooms, with the support of the Korea Tourism Organization.

A provincial government official said, “Hotels with a combined total of more than 4,000 rooms will be constructed at Hallyu World by 2020, significantly easing the shortage of accommodation in northwestern Gyeonggi Province and helping to attract tourists to the area.

Meanwhile, the Hallyu World project calls for the construction of a general culture and tourism complex under the theme “Hallyu,” by defining three zones in a 994,000 sq.-meter area near KINTEX, Korea’s largest exhibition center.   It is a mega project that requires an investment of 5.96 trillion won in project costs alone.