Major Developments in Korea Planned

Investors from the United States, including billionaire Donald Trump's son, plan to invest US$3 billion to develop Yeongjong Island in Incheon, part of a Korean government project to create a Northeast Asian logistics hub.

Trump's group is considering a casino, hotel and convention centre development, the statement said. That would fit with the government's plan to develop the reclaimed island located 50km west of Seoul and already home to the nation's Incheon International Airport.

The government said last year it plans to invest a total of 202 trillion won (S$305 billion) in and around Yeongjong by 2020, with 94 per cent of it through overseas investment. After his election in 2002, Korea President Roh Moo Hyun presented an economic blueprint that aims to turn Seoul into a financial hub, and the port of Incheon and two other ports into shipping centres.

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