On April 9, Gyeonggi Province and the city of Ansan signed an agreement with Kume Sekkei and Code Laboratory of Japan concerning an investment of KRW 1.2 trillion for the development of a 170,000㎡ commercial site in Sihwa Multi Techno Valley (MTV) in a ceremony that was held at the Sheraton Hotel in Incheon.

The ceremony was attended by 300-plus people, including Governor Kim Moon-soo, Ansan Mayor Kim Cheol-min, the chairmen of Kume Sekkei and Code Laboratory, National Assembly member Kim Myeong-yeon  from Ansan, and county and city councilors.

It is expected that the said commercial site will become a landmark of Ansan that accommodates hotels and resort/convention facilities, which will brighten up the entire area, as the area name Bandal (literally meaning “half moon”) indicates.

The Kume Sekkei Group, which was established in 1932, has five branches in Japan, in addition to ones in Vietnam and China. It has carried out 6,000 development projects in 40-plus countries, including Park Place in Shanghai, China; Qingdao Beercastle Commercial Finance Development  in Shandong Province, China; and Proman Saigon Centre Hotel  in Ho Chi Minh, Vietnam.

Business observers say that the success in the development project will be a shot in the arm for construction businesses in the area and that it will create jobs associated with hotels, resorts, and convention centers.

Gyeonggi Province says that it will provide sufficient administrative and financial support for the success of the Bandalseom Project at Sihwaho Lake and that it will do its best to attract more Japanese investments in the province.