Korean company to invest $1M in Clark project | Inquirer Business

Korean company to invest $1M in Clark project

By: - Reporter / @amyremoINQ
/ 02:08 AM May 24, 2016

A South Korean firm is investing roughly $1 million in another tourism-related project within the Clark Freeport in Pampanga.

Eliseo B. Santiago, chair and concurrent president of state-run Clark Development Corp., said CDC had signed with Punta LWA Properties Corp., headed by its president Seejoo Kim, an agreement to establish tourism facilities in Clark, including a hotel.

According to the CDC statement, Punta LWA will develop the 4,443.23-square meter former site of Mimosa Mart area along C.M. Recto Highway to operate a hotel and villas, with amenities such as a restaurant, coffee shop and wellness center.

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The Korean firm is set to develop and operate the facilities for 25 years, and has committed to provide employment for 50 for operations and another 50 for the construction of the building.

Punta LWA, which is also into architectural design and construction, has completed several projects including the design and construction of the Publicis headquarters in Paris, France; project management of Mercure Hotel, the Hado Group headquarters, and Hado 7, all located in Hanoi, Vietnam; and the foreign architecture coordination project for Lotte Jeju Art Villas in South Korea.

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TAGS: Business, CDC, Clark Development Corp., economy, firm, News, South Korea

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