Mirae Asset Global Investments to Develop Global Five-Star JW Marriott Hotel in Gyeongdo, Yeosu

Mirae Asset Global Investments announced on March 20 that it will establish the first JW Marriott Hotel, a global five-star hotel brand, in the Honam region at Gyeongdo, Yeosu, South Jeolla Province.

Ceremony for the Future Asset Marriott International Hotel Operations Agreement. (From left) Nam Giduck, President of Marriott Korea; Rajiv Menon, President of Marriott International Asia Pacific; Changhoon Choi, Vice Chairman and CEO of Mirae Asset Global Investments; Changsun Chae, CEO of Mirae Asset Consulting

On March 19, Mirae Asset Global Investments held a signing ceremony for an entrusted operation contract to build a global five-star hotel within the Gyeongdo development site in Yeosu, at JW Marriott Seoul in Banpo, Seoul. The event was attended by Chang-Hoon Choi, Vice Chairman and CEO of Mirae Asset Global Investments; Chang-Seon Chae, CEO of Mirae Asset Consulting; and Rajiv Menon, President of Asia Pacific (excluding China) Marriott International.

This project, promoted in collaboration with a global hotel brand, is a key investment initiative in the development of the Gyeongdo Marine Tourism Complex in Yeosu, led by Mirae Asset Group. Mirae Asset is investing approximately 1 trillion won in the 650,000-pyeong area of Gyeongdo, Yeosu, with the goal of completing the development by 2029.

Marriott International, which operates the JW Marriott brand, is a global hotel group managing around 9,800 hotels in 145 countries and regions worldwide. In Korea alone, it operates 39 hotels, demonstrating strong brand power and operational capabilities. With the introduction of the brand, Gyeongdo in Yeosu is expected to become a central hub for premium hotel and tourism infrastructure along Korea’s southern coast.

The hotel will have a total of 261 rooms and will feature upscale restaurants and bars, convention and banquet facilities, an outdoor pool, fitness center, spa, and other essential infrastructure required of a global luxury hotel. It will be developed as a complex hotel catering to both leisure demand and MICE (Meetings, Incentives, Conferences, and Exhibitions) demand.

Specialized partners with experience in global hotel projects will participate in the design and planning. The architectural design is being handled by Nikken Sekkei, the global architectural firm behind Dubai One Za'abeel, while the interior design will be led by Su Shiem Theo, who has worked on numerous global luxury hotel projects including Four Seasons Hotel Seoul and The Ritz-Carlton Hong Kong.

Chang-Hoon Choi, Vice Chairman and CEO of Mirae Asset Global Investments, stated, "This project aims to achieve a qualitative leap in tourism infrastructure on the southern coast through the introduction of a global hotel brand," adding, "Beyond simple hotel development, we will complete this as a flagship complex development project that contributes to revitalizing the local economy and enhancing the long-term value of tourism assets."

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