Press Release Retail & Services

Hanwha China Joins Hot Spring Resort Development Business

October 30, 2011

Hanwha China’s MOU with Yida Group

Hanwha China signed a memorandum of understanding with China’s Yida Group to establish a joint venture for building and operating a leisure resort compound within the Longmen complex in Dalian, Liaoning Province. Hot spring bathing, water park facilities and a golf course are expected to be included in this resort.

Under the agreement, Hanwha China will be responsible for planning and operating the resort, leveraging Hanwha Group’s experience in Korea, while Yida Group will oversee the construction.

The Longmen complex is a 265-square-kilometer leisure complex that includes marine leisure facilities and forested parks, 40 square kilometers of which is being developed by Yida Group. Hanwha Group added that the government of Liaoning Province has pledged its support for the resort project as well as additional projects Hanwha China will conduct in the province.

The chairman of Hanwha China commented that this co-project will be a good opportunity for Hanwha to share its resort related expertise and also strengthen its brand awareness.

Hanwha Hotels & Resorts

Hanwha Hotels & Resorts began operations in 1979 as the developer of South Korea’s first resort condominium project. It joined Hanwha in 1986. With resort, hotel, and food service businesses, we are rapidly becoming South Korea’s premier leisure and food service provider.

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Hanwha Group

Founded in 1952, Hanwha has grown quickly by anticipating and responding to changing business environments with a balanced business portfolio that includes energy & materials, aerospace, finance and retail & services. Our expertise and synergy in key areas have catapulted us into the seventh-largest business in South Korea and a Fortune Global 500 company. Hanwha continues to grow rapidly as we strive to pursue global leadership in all of our businesses. We are building a robust foundation for sustainable development and a brighter future for everyone.

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