South Korean Company Authorized to Build Multi-Billion Dollar Resort
Laos has signed an agreement with a South Korean company giving it a concession for the use of a 1,200-hectare plot of land to build a resort worth USD 2.9 billion.
Acting Director General of the General Logistics Department, Police Brigadier General Mr. Thongsouk Yaeulaoly and the company’s President Mr. Jeong Taejin, signed an agreement to start the construction of the Resort Lao complex which is located in the Km 62 area of Vientiane province’s Phonhong District.
The two parties signed a Memorandum of Understanding (MOU) for the project in February 2016, allowing both nations to begin research on its feasibility. They also sought permission from the government to use 500 hectares of the land for initial construction development as part of the study.
Phontham Visapra
