Martial Arts, Stakes High in Winning 'Jamsil MICE Complex Space' Project... "Forming a Dream Team with Top Companies"

Top Domestic and International Leaders in Architecture, Design, Finance, and Content Companies Join

Perspective view of Jamsil MICE Complex Space Development Project (Photo by Korea International Trade Association)

[Asia Economy Reporter Lee Hye-young] The Korea International Trade Association (KITA), which has entered the bid for the 'Jamsil Sports & MICE Complex Private Investment Project,' has teamed up with top domestic and international companies to seize the winning opportunity.

According to KITA on the 4th, the design project for the exhibition convention center includes participation from DMP, a domestic coastal architecture and sports facility specialist, and AECOM, a US engineering firm. To address issues such as traffic congestion, a common problem in urban exhibition centers, they also collaborated with TVS Design, a specialist exhibition hall designer responsible for the expansion of New York's Javits Center and the Las Vegas Convention Center.

To tackle the unprecedented 1 million square meter complex construction, the six-year construction period, and coordination with Seoul City's fiscal projects, KITA formed a construction investment consortium including Hyundai Engineering & Construction, GS Engineering & Construction, POSCO Engineering & Construction, Daewoo Engineering & Construction, Lotte Engineering & Construction, and SK Ecoplant.

For the large-scale financing amounting to approximately 2 trillion KRW, KB Financial Group, the top arranger of private investment project financing, was selected as the financial advisor, with NH Investment & Securities and Korea Investment & Securities also joining.

In the operations sector, considering the sports complex operation process from content planning to event hosting and ticket purchasing, companies with extensive related experience such as CJ ENM, Dreamus Company, and Interpark were brought in as investors. Leading domestic hotel operators including Hotel Lotte, Shilla Stay Hotels & Resorts, and Ambassador Group were also added as investors.

For cultural commercial facilities, Lotte Shopping and Shinsegae Property, both with rich experience in operating large-scale commercial facilities, joined the consortium.

Additionally, KITA explained that they are in communication with exhibition and convention leaders such as Deutsche Messe (Germany), ASM Global (USA), Sands Group (USA), as well as the largest US concert promoter AEG and MSG, which operates New York's Madison Square Garden.

A KITA official stated, "In the past, private investment projects were mainly focused on civil engineering projects such as roads, railways, and ports, but this project must be developed as a new type of social infrastructure capable of accommodating diverse content, marking a new turning point for private investment projects. We have formed a dream team for the rebirth of the Jamsil Sports Complex site."

This content was produced with the assistance of AI translation services.