KODIT to Provide 1 Trillion Won in Guarantees for Jamsil MICE Project to Support Private Financing

For senior debt
A 30,000-seat domed baseball stadium, exhibition and convention center, and more to be built

The Korea Credit Guarantee Fund (KODIT) will support private-sector financing for the Jamsil MICE development project by providing guarantees totaling 1 trillion won. The aim is to support the timely launch of construction on a large-scale mixed-use development and underpin private investment.

KODIT announced on October 28 that it will provide an industrial infrastructure credit guarantee totaling 1 trillion won for senior debt on the Jamsil MICE project. The project is being pursued as part of the Seoul International District (SID) district unit plan. It aims to build a global business cluster linking COEX, Hyundai Motor Group’s Global Business Center (GBC), and the Yeongdong-daero metropolitan transit center.

The project will bring a 30,000-seat domed baseball stadium, an exhibition and convention center, and a multipurpose sports complex to the Jamsil area. International business, commercial, and accommodation facilities are also planned. The project will be financed entirely with private funds. KODIT said it is the largest privately financed project of its kind to date. The project also includes a plan to reinvest operating revenues generated over the next 40 years in funding for balanced development in Seoul. It also plans to build eco-friendly infrastructure using renewable energy sources such as hydrothermal and solar power.

A KODIT official said, "Smooth financing for this large-scale private investment project will help improve people's quality of life and strengthen national competitiveness. KODIT will continue to provide more systematic and active support to boost the vitality of the Korean economy and expand social infrastructure."

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