Hanwha Group and Yida Group officials including Hanwha China chief Keum Choon-soo (third from right, back row) look on as officials sign the MOU to collaborate on the resort project at a hotel in Hong Kong on Saturday. (Hanwha China)
Hanwha China is to go into the hot-spring resort business in China in collaboration with a local company, Hanwha Group announced Sunday.
Hanwha China is the Korean conglomerate’s subsidiary in charge of its operations in China.
According to the conglomerate, Hanwha China signed a memorandum of understanding with China’s Yida Group to establish a joint venture for building and operating a leisure resort compound within the Longmen complex in Dalian, Liaoning Province.
The Longmen complex is a 265-square-kilometer leisure complex that includes marine leisure facilities and forested parks, 40 square kilometers of which is being developed by Yida Group.
The resort will include hot-spring bathing facilities and a golf course.
Under the agreement, Hanwha China will be responsible for planning and operating the resort while Yida Group will oversee the construction of the project.
Hanwha Group added that the government of Liaoning Province has pledged its support for the resort project as well as additional projects Hanwha China will conduct in the province.
By Choi He-suk (firstname.lastname@example.org