Shinsegae Group Exports Starfield Technology Globally, Launches Joint Venture with US OKO Group

Shinsegae Group is expanding its global reach by partnering with US real estate developer OKO Group to develop luxury hospitality projects. The joint venture, established through an agreement between Shinsegae Group Chairman Chung Yong-jin and OKO Group Chairman Vladislav Doronin, aims to leverage Korean construction and operational capabilities with international luxury hotel planning expertise.

The partnership will initially focus on developing hotels and residences under the Aman Group's high-end Aman and Janu brands. OKO Group has a history of leading construction projects for Aman brand properties. Both groups are owned and operated by Doronin.

The joint venture will inject an initial capital of $500 million (750 billion Korean won). This strategic move signals Shinsegae Group's ambition to broaden its presence in the global real estate market by combining its strengths with a seasoned international developer.

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We will combine the construction and operational capabilities of Korean companies specialized in large-scale space development with the high-end accommodation planning know-how of overseas developers to expand our presence in the global real estate market.