Four Seasons Hotels and Resorts Enters Korea

Partnership marks highly anticipated arrival of world’s leading luxury hotel brand
September 4, 2013,
Toronto, Canada

Four Seasons Hotels and Resorts, the global leader in luxury hospitality, announces its highly anticipated entry into Korea. Four Seasons Hotel Seoul is currently under construction and projected to open in 2015. The announcement is made in partnership with Mirae Asset Global Investments, the market leader in real estate investment in Korea.

Four Seasons Hotel Seoul will open in a prime location in the Central Business District of Seoul, where major financial institutions, government offices, shopping venues, and historic sites are located. It is expected to become a landmark in Seoul for both domestic and foreign travellers.

The new Hotel will include a 25-story building with seven levels of underground floors in a 4,117 square metre (44,315 square foot) site in the centrally located Sejongro Square. Four Seasons Hotel Seoul will offer 317 luxury guest rooms, top quality restaurants, glamorous meeting rooms, and a state-of-the-art fitness centre. Internationally renowned interior designers including LTW, AvroKO and AFSO are finalizing designs, and local architect Heerim, local interior designers Kesson, and general contractor Daelim Industrial will bring their local expertise to the project. Guest rooms will target international executives travelling to Korea, and food and beverage outlets will target mainly business demand from domestic and international firms in Korea.

Four Seasons is recognized as the world’s leading luxury hospitality brand, noted for its continual innovation, remarkable properties and a single-minded dedication to the highest of standards.

“Despite its rapidly developing economy, supply of luxury hotels in Korea has been limited. Recognizing the vast potential in this market, we have been exploring growth opportunities here for many years,” comments Chris Hart, President Hotel Operations, Asia Pacific at Four Seasons. “We are confident that Four Seasons Hotel Seoul will change the face of luxury hospitality in Korea. It represents the perfect combination of the right location and the right partner - prominent global investment group Mirae Asset Global Investments, a like-minded partner that shares our values and vision for success.”

“As the first top-tier luxury branded hotel in Korea, the superior product and services of Four Seasons will elevate the hospitality market in Korea and attract a new segment of global luxury travellers,” says Mr. Sang-Kee Jeong, Vice Chairman of Mirae Asset Global Investments. “We anticipate that the introduction of Four Seasons will be a catalyst for the Korean luxury market. Mirae Asset Financial Group is pioneering investment in hospitality as part of its commercial real estate portfolio, and partnership with this prestigious international brand will reap rewards for everyone, including the city of Seoul and Korea.”

About Mirae Asset Global Investments

Mirae Asset Global Investments was established in 1997 with the mission of becoming the leading provider of alternative investment opportunities in Asia and has since become Korea’s leading independent financial services group. As of the end of December 2012, the company’s diversified business entities were USD 58 billion under management.