Caesars Korea is a joint venture project formed through the partnership of Caesars Entertainment Corporation, a leading global gaming, hospitality, and live entertainment company, and a leading Asian real estate developer and owner of luxury hotels and resorts. The investors hold a 100 percent equity interest in RFCZ Korea Corporation, the owner of Caesars Korea integrated resort.
On March 18, 2014, RFCZ Korea Corporation became the first foreign-investment company to be selected by Korea’s Ministry of Culture, Sports & Tourism to receive a favorable Preliminary Review to develop and operate an integrated resort with foreigner-only casino at Midan City in Yeongjong Island, located in the Incheon Free Economic Zone.
With unrivaled expertise in hospitality and entertainment development and operations, Caesars Entertainment and its Asian partner are uniquely qualified to realize Korea’s first internationally branded and operated integrated resort. We hope Caesars Korea Integrated Resort will catalyze further investment and development in Incheon Free Economic Zone and support Korea’s economic and tourism growth objectives.
We envision the introduction of an iconic landmark in Incheon,
the international visitor’s gateway to Korea.
We seek to create a world-class entertainment and resort destination with broad appeal. With our variety of entertainment, dining, retail, and other attractions, we hope to play host to international visitors, domestic tourists and local residents.
We will directly and indirectly create thousands of new, high-quality jobs, from entry level roles to professional/skilled hires to executive positions. We endeavor to enhance Korea’s already high hospitality service standards and strive to become the employer of choice for the surrounding region.
We are committed to make a minimum of KRW 743.7 billion foreign direct investment in Korea during the construction period. We will further support the economic growth of the surrounding region by procuring supplies and services from the local community during the operations period.
We aim to promote and further expand Korea’s MICE industry by applying Caesars meetings, banquets & conventions expertise and track record to Incheon.
Establishment of LOCZ Korea Corporation
Preliminary approval from the Ministry of Culture, Sports and Tourism
Opening of Seoul office for Caesars Korea Integrated Resort Project (the “Project”)
Approval of District Unit Plan change for Midan City Guideline
Approval of Detailed Cityscape Plan Review
Approval of Design Review
Approval of Hotel Business Plan
Approval of Building Permit
Approval of New Investors Change from the Ministry of Culture, Sports and Tourism
Purchase of 2/3 of the Project land
Change of Company Name to RFCZ Korea Corporation
Approval of Building Permit Change
Approval of Revised Detailed Cityscape Plan Review