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S KOREA'S WOORI SEEKS FOREIGN INVESTORS FOR SONGDO PROJECT.

AsiaPulse News

| February 02, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, Feb 2 Asia Pulse - Financial advisors for a government plan to turn part of a western South Korean port city abutting Seoul into an international business center have mapped out a blueprint to lure foreign investment for the realization of the plan, financial industry sources said Monday.

South Korea's Woori Bank and global investment bank Morgan Stanley plan to attract US$2 billion in syndicated loans from domestic and foreign investors in the second half of the year, the sources said.

The loans will be used for developing Regions 1 and 2 of Songdo in Incheon, home to Korea's main international airport, for the next three years, according to the sources.

Woori Bank and Morgan Stanley will start holding investment relations sessions in April in major cities around the globe, including Seoul, Hong Kong, Singapore and New York, the sources added.

"The loans will be paid back using profits from building ...

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Source: HighBeam Research, S KOREA'S WOORI SEEKS FOREIGN INVESTORS FOR SONGDO PROJECT.

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