The ‘European-style Spa & Resort Development Project’ being pursued within Golden Harbor in District 9 of Incheon Songdo International City is gaining momentum. With the recent completion of the selection of the architectural design firm following the selection of the project manager (PM), the development project is gaining momentum.

Terme Group Korea (TGK) held a signing ceremony for the ‘Golden Harbor Wellbeing Spa & Resort Official Architect of Responsibility (AoR) Contract’ with Sunjin P&I and Haeahn Architecture on the 4th at the main conference room of the TGK headquarters in Jung-gu, Seoul. The ceremony was attended by TGK Chairwoman Kim In-sook and Vice President Han Yun-jin, Sunjin P&I CEO Lee Sang-hak and Executive Director Lee Sang-hwa, and Haeahn Architecture CEO Yoon Se-han.

Through this AoR contract, Haeahn Architecture will collaborate with an international design firm (MVRDV) to handle the preliminary design sketches. Haeahn Architecture is recognized for possessing industry-leading capabilities in refining designs tailored to domestic conditions.

Haeahn Architecture plans to quickly provide a development blueprint for the ‘Golden Harbor Wellbeing Spa & Resort’ based on its development experience, including numerous architectural designs for hotels and resorts, as well as residential, commercial, research, and hospital buildings.

Based on this, TGK plans to invest 850.8 billion won to develop the Golden Harbor Wellness Spa & Resort, featuring a glass dome design, on two plots (99,041.6㎡) within the Golden Harbor site. The company officially launched the project by signing a Memorandum of Understanding (MOU) with the Incheon Free Economic Zone Authority at an investment promotion briefing held in Frankfurt on November 17, 2022. A basic business agreement was signed with the Incheon Free Economic Zone Authority on September 29, and the submission of a performance guarantee bond worth 8.5 billion won, representing 1% of the project cost, was subsequently completed.

With the goal of opening in 2030, TGK plans to establish a Special Purpose Company (SPC) next January and sign a land lease agreement and a main business agreement with the Incheon Free Economic Zone Authority. To this end, prior to selecting the AoR, TGK selected Sunjin P&I as the Project Manager (PM) to oversee the entire development process.

Meanwhile, the Austrian-based Terme Group currently operates wellness spas and resorts in Romania and Germany. Terme Wellness Resort is a nature-friendly space that integrates an indoor dome-shaped spa with a botanical garden, and it operates 365 days a year. Equipped with state-of-the-art water purification, air purification, and ozone treatment systems, and featuring over 1,500 palm trees and 800,000 plants, it is considered a healing hotspot within the city. The Terme Bucharest branch in Romania opened in 2017 and reportedly attracted 1.7 million visitors this year.

TGK Chairwoman Kim In-sook and Vice President Han Yun-jin, Sunjin P&I CEO Lee Sang-hak and Executive Director Lee Sang-hwa, and Haeahn Architects CEO Yoon Se-han attended the ‘Golden Harbor Wellbeing Spa & Resort AoR (Official Architectural Design) Contract Signing Ceremony.’ Photo courtesy of TGK

[Original new report]