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SOUTH KOREA. Incheon International Airport Corporation (IIAC) announced on Friday that it has chosen leisure-to-travel retail company Paradise Group as the preferred bidder for a two-phase development project at the International Business Center-1 zone.

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Busan-based Paradise Group will build a resort complex consisting of foreigners-only casinos, convention centres, and luxury hotels in the zone, located south of the passenger terminal at Incheon International Airport.

“The casinos will only be five minutes from Incheon and will attract a lot of Chinese customers,” Paradise Group Executive Director Merchandising Department Jin Mo Kim told The Moodie Report.

Paradise Group, a Korean company that specialises in hotel and casino management as well as travel retail stores, will inject KW662.1 billion (US$572.75 million) to create a Korean-style integrated resort in the area.

This integrated complex of luxury hotels, convention centre, shopping malls, performance halls and leisure facilities will also function as a medium for promoting Korean classical culture, pop culture and the arts.

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A 500-room luxury hotel, foreigners-only casino, shopping mall, officetel (a Korean combination of office and hotel), and a street of arts and culture will be completed during phase one, which will last until 2016, said Paradise Group.

During the second phase, which will carry through until 2018, an additional 250-room deluxe hotel, performance and exhibition hall, convention centre, spa and business complex will be built. The Golden Gate Casino, a local casino operated by Paradise Group at Hyatt Regency Incheon, will relocate into the resort.

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The resort will also host a train station that offers a magnetic levitation train service to the terminals.