Mirae Asset Global Investments said on the 20th that it will build the first global five-star hotel brand in the Honam region, the JW Marriott Hotel, on Gyeongdo in Yeosu, South Jeolla.
Mirae Asset Global Investments held a signing ceremony on the 19th at JW Marriott Seoul in Banpo, Seoul, for a management agreement to build a global five-star hotel on the Gyeongdo development site in Yeosu.
Attendees included Vice Chairman Choi Chang-hun of Mirae Asset Global Investments, CEO Chae Chang-seon of Mirae Asset Consulting, and Rajeev Menon, president for Asia-Pacific (excluding China) at Marriott International.
The project is being promoted in collaboration with a global hotel brand and is a key investment in the development of the Yeosu Gyeongdo marine tourism complex that Mirae Asset Group is carrying out.
Mirae Asset is investing about 1 trillion won to develop a total of 650,000 pyeong in the Gyeongdo area of Yeosu, aiming for completion in 2029.
Marriott International, which operates JW Marriott, is a global hotel group running about 9,800 hotels in 145 countries and territories worldwide. In Korea, it operates 39 hotels.
The hotel will have a total of 261 rooms and will be equipped with amenities such as fine-dining restaurants and bars, convention and banquet facilities, an outdoor pool, a fitness center, and a spa.
The architectural design is by Nikken Sekkei, the global firm that designed One Za'abeel in Dubai, and the interior design will be handled by Su Seam Teo, who has worked on numerous global luxury hotel projects including Four Seasons Hotel Seoul and The Ritz-Carlton, Hong Kong.
In addition, the 27-hole "Seigewood Yeosu Golf Course" is located near the hotel, positioning it as a differentiated luxury resort-style hotel aimed at domestic and international golf demand.
Vice Chairman Choi Chang-hun of Mirae Asset Global Investments said, "This project seeks a qualitative leap in tourism infrastructure along the southern coast by introducing a global hotel brand," adding, "We will complete it as a representative mixed-use development that goes beyond simple hotel development to help revitalize the regional economy and enhance the long-term tourism asset value."