Ritz-Carlton to return to Seoul, tapped by IGIS Asset for landmark project

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Ritz-Carlton to return to Seoul, tapped by IGIS Asset for landmark project - Korea Economic Daily

Quick Summary:

Hyundai Engineering & Construction Co.(Hyundai E&C) is participating in the redevelopment project with its investment of 409.9 billion won.“Iota Seoul offers the ideal conditions for the return of The Ritz-Carlton,” said a Marriott International official.“With its strategic location bridging Seoul Station and Namsan, and strong partners in IGIS and Hyundai E&C, this project is set to redefine the city’s luxury hospitality landscape.”The project recently received planning approval from the Seoul Metropolitan Government.

IGIS Asset Management Co., South Korea’s leading real estate investment firm, has named The Ritz-Carlton the preferred hotel brand for its ambitious mixed-use property development project on the site of the former Millennium Hilton Seoul, marking the ultra-luxury chain’s return to Korea after a 15-year absence.

The announcement on Monday confirms that Marriott International Inc.’s top-tier luxury brand will anchor the hospitality component of the “Iota Seoul,” a landmark property redevelopment project opposite Seoul Station.