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Jeju Dream Tower opens in South Korea

December 18, 2020 True to its November announcement, Korea based, Lotte Tour Development Co Ltd, will celebrate the official opening of its US$1.4 billion Jeju Dream Tower integrated resort on December 18, after securing final approvals for its 1,600-room Grand Hyatt hotel. Citing news agency Jeju Sori, Inside Asia Gaming reports that the integrated lifestyle desitnation for the semi-autonomous island of Jeju, has also gained status as a tourist accommodation business, having been registered under the Tourist Promotion Act and Jeju Tourism Promotion Ordinance. The distinction, according to the source, is applicable to hotels with 30-plus rooms and includes specific requirements on facilities in addition to “provisions on foreign ownership and use rights for the land and buildings.”

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