Korea’s Paradise Co Ltd says it doesn’t expect the country’s ongoing missile spat with China to impact it in the long term but admits to “concerns about the Chinese market” ahead of Thursday’s official opening of Paradise City in Incheon.
The launch party for Korea’s first integrated resort has been overshadowed in recent weeks by the THAAD missile crisis which has seen China place a ban on Chinese travel companies selling holiday packages to South Korea as well as ordering the cancellation of flights and cruises.
As previously reported by IAG, Chinese tourist numbers to South Korea subsequently fell by 39.4% in March.
According to Reuters, Paradise responded to questions over this week’s opening, stating, “There are concerns about the Chinese market, but we don’t expect the missile issue to continue in the long term.”
Paradise has also promised to target customers from Japan and other Southeast Asian countries in the meantime although it’s hard to see them making up any shortfall from China.
Paradise City, the US$1.1 billion partnership between Paradise and Japanese pachinko operator Sega Sammy Holdings, will cover 330,000 square meters with the first phase boasting a hotel, convention center and casino boasting 160 table games, 378 electronic table games and 350 slot machines.
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