Shinsegae Property, the real estate development arm of Shinsegae Group, is bringing ultra-luxury hospitality brand Aman's first Korean property to Seoul's Cheongdam-dong, under Chairman Chung Yong-jin's vision of setting a new standard for the country's high-end lifestyle market.
The company announced Wednesday that it will develop Aman Seoul, handling planning, strategy and execution, while Aman will handle design and operations, managing the hotel and residences under a long-term agreement.
Aman Seoul will rise on a roughly 70,000-square-meter site with eight basement levels and 38 floors above ground, housing a hotel, 49 branded residences and retail and cultural space.
It follows Aman Tokyo, Aman New York and Aman Nai Lert Bangkok, and joins a pipeline that includes Aman Beverly Hills, Aman Miami Beach, Aman Dubai and Aman Singapore. Aman picked Gangnam for its Seoul entry after weighing Shinsegae Property's development record and Seoul's standing as a global lifestyle hub.
"Aman Seoul will be more than a hotel development. It will set a new milestone for Seoul's high-end lifestyle," Chung said, adding that Shinsegae Property would keep building what he called innovative value.
Aman is building what it calls an urban sanctuary, drawing on the spaciousness and privacy that define its brand elsewhere while folding in Korean spatial aesthetics. The complex will include a spa and wellness facility along with Aman Club, a members-only community with a pool, fitness center and lounge.
Aman Group Chairman Vlad Doronin viewed Seoul as a global city where culture, design, technology and wellness converge, leading global lifestyle trends.
"Aman Seoul reflects our conviction in Seoul's future and our vision of establishing a new base for the Aman lifestyle here," Doronin said. "We will create an urban sanctuary where guests can experience Seoul's energy while enjoying Aman's privacy, service and cultural depth."
Shinsegae Group and Aman Group have built a strategic partnership spanning luxury hospitality and real estate. In July, Shinsegae Group signed a joint venture with OKO Group, backed by an initial $500 million investment, to develop Aman- and Janu-branded hotels and residences together.
By No Kyung-min (minmin@heraldcorp.com)
