International edition
September 18, 2021

North Jeolla, in consultations with US and Chinese investors

South Korea relaxes foreign investment conditions

South Korea relaxes foreign investment conditions
In South Korea, officials have endorsed a bill that would ease foreign investment conditions in Saemangeum, a plot of reclaimed land in North Jeolla province in the country’s southwest that’s being groomed for a potential foreigners-only casino resort
South Korea | 04/13/2015

In South Korea, officials have endorsed a bill that would ease foreign investment conditions in Saemangeum, a plot of reclaimed land in North Jeolla province in the country’s southwest that’s being groomed for a potential foreigners-only casino resort.

K

orean news agency Yonhap reported that part of the bill’s purpose was to simplify the registration process for these projects, doing away with an existing caveat that requires casino developments to have at least $500 million of investments and for these casinos to be attached to luxury hotels.

The provincial government in North Jeolla is in the middle of consultations with potential US and Chinese investors about the possibility of developing an integrated resort and casino in the reclaimed area, which has 40,200 hectares of ripe land space for a future casino project.

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