South Korea Is Planning To Build A $290 Billion Resort To Compete With Macau
A few weeks ago South Korea publicly released plans for $290 billion island gambling city. AFP reports that the site will be Yongyu-Muui island near the country's main international airport.
The project is said to be funded by luxury hotel operator Kempinski, Korean Air and Daewoo Engineering and Construction.
While the project is a rather ambitious one, hoping to attract Chinese gamblers, whether or not it will ever come to fruition is unclear seeing as how currently only $3 billion has been raised.
If the project were to be completed, it would be sometime around the year 2030.
Paul Hudson | Elite.