The InterContinental Hotels Group (IHG) will build a Voco hotel with over 250 rooms near a
US military base in Pyeongtaek, Gyeonggi Province by December 2022.
Voco is a luxury brand owned by IHG.
Pyeongtaek has signed a memorandum of agreement with IHG and construction firm Seraphim Development Co. on the construction of the new voco hotel in the city's Paengseong district, home to the US Forces Korea's base Camp Humphreys.
Construction is set for June next year on a target completion date of December 2022.
The hotel will also have convention facilities, an ice rink, and an outdoor swimming pool. It is expected to create about 2,000 jobs and various other opportunities, such as vocational training for students of local universities.
Gyeonggi's only five-star hotel is with a domestic brand, and the voco hotel will be its first international brand five-star hotel.
A municipal official expects the voco hotel to emerge as a popular travel destination of Pyeongtaek due to its proximity to the US military base, Naeri Culture Park, and other sights.


Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google
Sodexo Raises 2026 Revenue Outlook After Strong Q3 Sales Beat
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves
Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO
easyJet Agrees in Principle to £5.23 Billion Castlelake Takeover Offer
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows
Lockheed Martin Emerges as Frontrunner to Acquire Ultra Maritime in $3.5 Billion Defense Deal
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 



