SEOUL, Korea, Jan 27 (Korea Bizwire) – A Korean-American town will finally be built in Songdo’s international business district. In a 386,000-square-meter site, the 49-story building will host 830 apartment units, 1,974 offices, 312 hotel rooms, and amenities. Currently the management company is selling the units to foreign nationals of Korean descent residing in the United States, Canada, Germany, and New Zealand.
The company focuses its marketing effort on those in their retirement age who consider coming back home. As the Korean-American Village offers all the amenities that are found in first-world cities, the potential buyers would find it easier to settle in the town. In addition, it is within a 30-minute driving distance from Incheon International Airport, which would make it convenient for them to fly to meet friends and family in their adopted country.
The commercial area to be located between the Songdo Campus of Yonsei University and the Campus Town subway station will host American-style shopping districts with movie theaters and other cultural venues, as well as shopping establishments and restaurants.
A management company official said, “Already more than 1,200 units have been sold to foreign buyers. As the units are lower in price than those in surrounding areas, with the halo effect from being exclusively for foreign residents, we believe local buyers will also be interested in purchasing the units left over after selling to foreigners.” The actual move-in date will be some time in the first half of 2017.