Shin: Chinese travel ban won’t have an impact
The first casino resort in South Korea opened in Yeongjongdo, near Incheon International Airport, on April 20. Phase I of Paradise City includes a hotel, casino and convention center.
“Paradise City was a challenge best suited for Paradise Group, a first mover in the tourism industry,” Paradise Group Chairman Chun Phil-lip said at the opening ceremony. “We will raise the stature of Korea through Paradise City, East Asia’s first integrated resort, and create a K-style destination for visitors from all over the world.”
The 330,000-square-meter (3.6 million-square-foot) property is a joint venture of Paradise, a Korean tourism group, and Japanese entertainment company Sega Sammy Holdings. Construction on the resort began in November 2014, with Phase I of the investment costing 1.3 trillion won (US$1.14 billion).
Paradise City is a 10-minute drive from Incheon International Airport and a 40-minute trip by rail from the capital city of Seoul. Visitors flying to Incheon from Beijing, Shanghai and Tokyo can reach the resort in about 90 minutes, according to Paradise. The company expects up to 1.5 million annual visitors to start, drawing tourists from China, Hong Kong, Taiwan, Japan and Southeast Asia.
The foreigners-only property will have lots of competition soon. Caesars is planning to open Midan City in Yeongjong, and Mohegan Sun is planning to open its Inspire Resort near Incheon Airport.
Industry observers have expressed concern about the travel ban handed down by the Beijing government to keep Chinese citizens from visiting South Korea, a move prompted by a U.S.-installed anti-ballistic missile system there. But Shin Im-chul, marketing director for Paradise Sega Sammy, shrugged off those concerns. “The target VIP visitors from China are not affected by the Chinese travel ban because they do not travel with big tourist groups,” Shin said. “That means we will be less affected by the conflict compared to other industries such as the duty-free industry.”
Phase II of Paradise City, with a shopping district, spa, nightclub and a family-friendly entertainment park, will open early next year.
