Hong Kong investment company New Silkroad Culturaltainment Limited says it has received development approval to proceed with a substantial new integrated resort development on the Korean holiday island of Jeju.
In an announcement, the company revealed that the Governor of Jeju Province had issued its subsidiary, Macrolink Glorious Hill Co., Ltd, the approval in accordance with the “Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of Free International City”.
New Silkroad Culturaltainment added that it expects the development to bring “sustainable and promising revenue” to the group in future.
The company announced in 2016 that it had obtained a gaming license on Jeju following the acquisition of Development Golden Beach Co., Ltd, which operates a casino at Jeju’s KAL Hotel. It also revealed at the time its plans for an integrated resort development known as the Glorious Hill Project, said to be “one of the largest integrated resort complexes in South Korea.”
The project will include an integrated entertainment complex as well as numerous five-star hotels, commercial and residential properties, healthcare facilities, a theme park and golf courses.