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The Korea Herald
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THE INVESTOR
March 28, 2024

Retail & Consumer

Jeju Air expands into hotel biz with W60b investment

  • PUBLISHED :November 11, 2016 - 17:36
  • UPDATED :November 11, 2016 - 17:39
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[THE INVESTOR] South Korea’s leading low-cost carrier Jeju Air is seeking to diversify its business with a 60 billion won (US$51.51 million) hotel in Seoul, according to news reports on Nov. 11. 

The airline affiliate of Aekyung Group, one of the country’s top 30 conglomerates, is planning on a 261-room budget hotel as part of a 17-story multi-use complex built by its parent company. 



The complex, spread over 54,000 square meters, will be located next to Hongik University Station which offers direct access to airport train to Incheon International Airport, as well as a neighborhood most preferred by inbound tourists. 

On the back of favorable foreign exchange currency and low oil prices, Jeju Air has been leading the booming budget carrier industry, “and seeks to not only further improve revenue but also differentiate itself in terms of service, creating an added value by combining flight and accommodation,” said a company official.

By Hwang You-mee (glamazon@heraldcorp.com)

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