The East Busan Tourism Complex recently attracted its first foreign investment, from Goldsea Korea Investment, for the establishment of a KRW 130 billion (USD 117.2 million) aquarium and accommodations in the complex, according to developer Busan Metropolitan Corporation (BMC).
To be located on a 38,894 m2 site, facilities will include a 15,000-ton aquarium, a marine animal experience hall and a 55-room underwater hotel. The aquarium, to be the largest in Korea, will be the first megasized lagoon-type aquarium with an underwater hotel in Asia. It will provide experience and educational programs focusing on the environment, animal protection, leisure and ecology resource research.
Goldsea Korea Investment established a subsidiary in Korea with KRW 2.1 billion in capital and completed foreign-invested company registration last month. The BMC plans to complete administrative procedures by the first half of next year to begin construction on the aquarium, which is set to open in 2016.
BMC CEO Lee Jong-cheol noted that the investment is significant for being the first foreign investment in the East Busan Tourism Complex, adding that it will play an important role in fostering the tourism industry of Busan, facilitating the regional economy and attracting more domestic and foreign investment.
