IS Dongseo, the South Korean company, is interested in building hotels on Tsesarevich embankment in Vladivostok, the Mayor's Office reports on Thursday.
As a reference, the company with an annual turnover of $2 billion specializes in the construction of residential and non-residential buildings. Representatives of IS Dongseo have already met with the authorities of Vladivostok.
“I noticed that two buildings have been non-demanded since the APEC summit, and we are considering building hotels on this site because the buildings are located near the sea and the tourist flow to Vladivostok is increasing”, the company’s representative was quoted as saying.
Deputy Head of the Administration of Vladivostok Sergey Sherstyuk told delegates about preferential treatment for investors in Primorye and invited them to participate in the Eastern Economic Forum scheduled for September.
The tourist flow from South Korea to Vladivostok has doubled since the beginning of the year: over 71 thousand travelers have visited the city for this period of time. The Republic of Korea is one of the three key partner countries of Primorsky Krai in the sphere of trade and investment. So, out of $1.2 billion in investments in the region, more than 100 million is coming from South Korea. Apart from that, over 50 South Korean enterprises operate in the region. In 2017, an Action Center for Korean investors was opened in Vladivostok.