Lotte Tour Development Co Ltd. expects a grand opening of its $1.42 billion Jeju Dream Tower before the end of the year now that the company received final approvals from Jeju Provincial Council.
The tower, located in downtown Jeju, South Korea, passed all 900 conditions required to begin full operations, including those related to fire safety, construction, traffic, water and sewage, according to Inside Asian Gaming.
“With this completion, Dream Tower’s long-standing dream of becoming the number one local company in jobs can be realized,” said Lotte Tour Chairman and co-CEO Ki-Byung Kim.
The company expects to hire a workforce of 3,100, drawing from Jeju National University, Halla University, and Cheju Tourism University, among others.
Rising 38 stories, Jeju Dream Tower features 1,600 all-suite guest rooms under the Grand Hyatt Jeju brand with panoramic views of the ocean, downtown Jeju and Hallasan Mountain. The project will also offer a retail mall, 14 restaurants and a foreigner-only casino to be relocated from Lotte Hotel Jeju, pending completion of a Casino Impact Study Assessment. If approved, the new casino would expand gaming space fivefold, with 150 tables and 300 slots.
