Korean firm earmarks P450M for Clark hotel, wellness project
- Source: http://www.sunstar.com.ph/pampanga/local-news/2015/10/27/korean-firm-earmarks-p450m-clark-hotel-wellness-project-438149
- Tuesday, October 27, 2015
- By Reynaldo G. Navales
CLARK FREEPORT -- A South Korean firm has started constructing its P450-million hotel and wellness facility inside this Freeport.
Clark Development Corporation (CDC) president Arthur Tugade and Somang Global Clark Corporation (SGGC) president Ho Kyeng Lee led the recent groundbreaking ceremonies signaling the start of the 7 Healing Hotel and Spa facilities here.
CDC and SGCC signed a 25-year lease agreement on a 1.7-hectare property located at Chico Street, Abacan Street, and E. Aguinaldo Street here on May 4 this year.
SGCC has committed to employ about 200 workers in the next five years.
Tugade expressed optimism that this project will bring about more tourism-related investments. “This is the beginning of beautiful things (to happen in Clark),” he said.
Also present during the groundbreaking rites are Pampanga First District Representative Joseller “Yeng” Guiao, SGCC chairman Suk Chang Kang, and other CDC and SGCC officials.
Guiao said investors in Clark are well-taken care of by the state-run firm. “Our investors in Clark are in good hands.”
To complement the operation of the wellness center, SGCC will also set up a water health spa, restaurant and other amenities with hotel, villas and other lodging facilities.
The project is expected to be completed by 2017.
In 1992, Kang established SGCC as a manufacturer of cosmetics in Korea.
SGCC also entered the real estate business, hotels, supermarkets, residential and commercial buildings in South Korea. It has also invested in Mongolia operating offices, malls and apartments.