Caesars Korea Awarded Commendation from Trade, Industry & Energy Minister and Incheon Mayor
Recognition for Attraction of Foreign Investment and Incheon’s Construction Industry Vitalization
Incheon, December 13, 2018 – The executives of Caesars Korea are honored to be recently recognized by MOTIE with the “Minister’s Commendation for Contribution of Foreign Investment” and by Incheon City with the “2018 Proud Constructor Award”.
At the 2018 Foreign Company Day, hosted by Ministry of Trade, Industry and Energy, and organized by Foreign Company Association held on the 5th of November, Mr. Ki Uk Ryu, Director of Strategy and Planning of Caesars Korea, has received the “Commendation Minister’s Award” for contribution to attracting and promoting foreign investment. As of the date of this release, the company has invested USD151 million (equivalent to nearly 171.3 billion won) in developing the Project, through FDI to Korea.
The “2018 Proud Constructor Award” is awarded by the Incheon Metropolitan City each year to constructors who demonstrate dedication to the development of a local construction industry and the city. Mr. Cheonil Park, Director of Design & Construction of Caesars Korea was selected as the awardee. It was highly rated for significant participation of local construction companies to the Project, and encouragement of engagement of local supplement partners. Currently, Incheon based construction companies and suppliers are showing the participation rate of 43.99% (based on contracted amount as of August 2018) in construction of the Project.
“I’m pleased that the Project has contributed to the mutual growth of the local community and the vitalization of attracting foreign investment,” said William Shen, Senior Vice President and Managing Director of Korea & Japan for Caesars Entertainment. “We will make greater efforts to open the IR as planned and bring significant benefits to Korea and Incheon – not only large foreign investments, but also creation of jobs and demand for tourism, and even the growth of MICE industry.”
Caesars Integrated Resort Project is North Asia’s first internationally-branded integrated resort development project currently under construction in Incheon, the international gateway to Korea. The Project will be branded and operated by Caesars Entertainment, a global leader in the entertainment, hospitality, MICE and gaming industries with over 50 hotels, resorts and casinos in six countries.