South Korea’s first multicomplex resort project is set to open the following month. Its name is Paradise City, and it will be located near the Incheon International Airport.
The six-star complex worth $1.15 billion is going to feature a 711-room hotel and a casino along with a convention and shopping centers. The opening is planned for 20 April.
Paradise Company, the project’s developer, owns several casinos in Korea. It is one of the major players in the highly competitive Asian casino business which has recently seen rapid development with Japan, Macao, the Philippines and Vietnam growing their investments in the gambling industry.
A unique feature of the Paradise City complex is the theme of hallyu. According to Chun Phillip, chairman of the Paradise Company, the concept has to do with a popular trend that defines South Korea at a given point in time. Currently, hallyu stands for people around the world enjoying Korean style through a mix of cultures.
According to Morgan Stanley, revenues from Paradise City are expected to reach KRW 420 billion.