SEOUL, Aug. 21 (Korea Bizwire) – Greenland Holding Group, a China-based business group, plans to invest additional 600 billion won, or about US$587 million, in the healthcare town in Jeju Island.
Jeju Free International City Development Center (JDC) announced on August 19 that JDC and Greenland Holding signed a 600-billion-won agreement on the development of additional sites in the soon-to-be-built town.
Under the terms of the agreement, the Chinese company is formulating concrete plans to build the town including a development schedule, a decision of the concept of the town and financing. In addition, JDC plans to support the company by helping it get permission.
JDC and Greenland Holding already signed another 1-trillion-won contract in October 2012. According to the terms of the agreement, the China-based company has carried out the project on the 778,000-square-meter lot out of the total site of 1,539,000 square meters.
“With our experience and rich resources, we will make the town one of the No. 1 brands in Korea,” Yuliang Zhang, the chairman of Greenland Holding said.
By Veronica Huh (email@example.com)