Gangwon Special Self-Governing Province and Goseong County announced on Monday, September 28, that they signed an investment agreement (MOU) with Hoban Group and Hoban Hotel & Resort Co., Ltd. for the 'Goseong Hwajinpo International Resort Tourism Destination Development Project' at the Small Conference Room of the Provincial Government Main Building.

The signing ceremony was attended by about 10 officials, including Gangwon Special Self-Governing Province Governor Woo Sang-ho, Goseong County Mayor Ham Myeong-jun, Hoban Group Chairman Kim Sun-gyu, and Hoban Hotel & Resort Co., Ltd. CEO Lee Jung-ho.

Under this agreement, Hoban Hotel & Resort Co., Ltd. will invest a total of 680 billion won by 2035 to develop a global tourist destination in the northern East Coast region, featuring a 450-room accommodation facility and various auxiliary facilities on a 51,516㎡ (approx. 15,584 pyeong) site in Chodo-ri, Hyeonnae-myeon, Goseong-gun.

Despite its exceptional natural environment, the northern East Coast region has previously lacked sufficient stay-over infrastructure. With this newly decided investment, the Province expects the influx of over 700,000 tourists annually and the creation of approximately 6,500 direct and indirect jobs. This is anticipated to dramatically foster a high-value-added tourism ecosystem as well as regional balanced development.

Gangwon Special Self-Governing Province Governor Woo Sang-ho stated, "This tourism destination development project, where natural tourism resources such as the sea, lakes, and dense forests are concentrated, is a landmark project for the stay-over tourism belt in the northern East Coast." He requested the company, "Please create a representative resort destination for South Korea by applying your successful resort operation know-how."

Governor Woo further emphasized, "We will actively support developing the Gangwon East Coast into a world-class tourist destination by intensively fostering four-season stay-over tourism sites that integrate lodging, culture, recreation, and leisure—such as the Goseong Haesolia Tourism Complex, for which an investment agreement was recently signed."

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