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Greenland Group plans flagship investment in JejuAn Interview with the Greenland Korea Investment Development Group
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The Greenland Group is a state-owned large-scale enterprise from Shanghai, China. At the core of its business is real estate development and it has construction projects in 70 cities across 25 provinces in China.

Greenland and Jeju International City Development Center (JDC) signed an MOU on Dec. 23, following from an earlier bilateral agreement signed on Oct. 18. The partnership began work on the Greenland Jeju Healthcare Tourism Town, in Donghong-dong, Seogwipo city, on Oct. 30. Already ranked in the top 500 enterprises in the world, the Greenland group has now added Jeju to its real estate portfolio and the first phase of construction has progressed successfully.

¡ã Greenland Korea CEO Huang Min-kang. Photo courtesy Jeju Special Self-governing Province
Greenland Korea is a wholly owned subsidiary of Greenland Group and it is the first time the Greenland Group has localized operations outside of China. The Greenland Korea CEO Huang Min-kang and Assistant General Manager and Sales Director Dong Jian-feng shared their views on the Greenland Group business philosophy and development strategy in a special interview with The Jeju Weekly.

“The Greenland Group began with 20 million RMB and 20 years later we entered the Fortune 500. Because of our rapid growth we now hold 20 billion RMB. Through our strong domestic development we entered the Fortune 500 and the Group decided to push towards the world market and become an international enterprise. To achieve this, the support of the Chinese and South Korean governments was extremely important as we chose our first location as Jeju Island. The Jeju Healthcare Tourism Town is extremely important to the Group’s overall development strategy,” said Huang.

Huang, with his long experience in the real estate industry, reflects on the excellent location of the site: facing the sea, with Mt. Halla in the background. The total construction area of 43 square meters will be developed in three phases. In the construction of the first stage independent apartments will be constructed. Huang believes this part of the project will be “a piece of cake.”

“In China, the project would not be constructed in phases and could be completed within three years. However, when in Rome we must do as the Romans do, so the project may take longer and we will try to adapt to local Jeju practices,” said Huang.

Huang hopes the Jeju Healthcare Tourism Town will be completed and operating within 5 years and in order to achieve this the second phase must start immediately. Greenland Group believes that there will be great changes on Jeju within 5 years as a number of affiliates, including business and hotel management groups, have been in discussion about investing in the project.

The Greenland Group’s philosophy demands reflecting on the needs of the government, satisfying what the market demands, and achieving the people’s dreams. Accordingly, Greenland Korea has claimed it will reflect on the needs of the Jeju government in order to maximize the success of its project on Jeju.

Huang believes that once the project is completed the image of Seogwipo City will have greatly improved, and the creation of a prosperous community resort and health care town will benefit the community.

“There will be a need to recruit a very large number of highly skilled employees and this could help solve some unemployment problems on the island,” said Huang.

Assistant General Manager and Sales Director Dong Jian-feng said that Greenland Group will have to combat low brand awareness, as corporations in foreign markets need to build customer trust. The Greenland Group brand is already widely recognized in China and it is hoped the Healthcare Tourism Town in Seogwipo City will lead to increased awareness in Korea.

“It could become a future local land-mark, with luxury shopping centers, hotels, restaurants, cosmetic surgery and cancer treatment clinics, oriental medicine and acupuncture services, and much more. There could also be additional entertainment and shopping, which will attract people from the local and international communities, creating a vibrant community,” said Dong.

Because of the value of the natural environment in Jeju, Greenland Group stresses it is committed to sustainable development and environmental protection.

“We will adhere to the environmental policies of the Jeju government and use renewable energy sources, such as energy-saving lamps,” said Huang.

Jeju Healthcare Tourism Town is a core project of JDC and Huang compares the business potential of Jeju to that of Hainan Island, China, but stresses that Jeju has greater advantages.

“Although both Jeju and Hainan have clean water and blue skies, the four seasons of Jeju attracts tourists and as the closest foreign city to the mouth of the Yangtze River, it is a convenient visa-free destination for Chinese tourists,” said Huang.

Huang expects steady growth in Jeju and the Greenland Korea Healthcare Tourism Town is the first step in its investment strategy, with the rest of Korea being targeted for future investment.

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