Business · Companies · 18 hrs ago
Korea Credit Guarantee Fund backs Jamsil MICE project with 1 trillion won
The Korea Credit Guarantee Fund will guarantee 1 trillion won in loans for the Jamsil MICE project in Seoul.
The guarantee covers senior loans, which are repaid before other borrowing if a project runs into financial trouble.
The development is part of a plan to connect Jamsil with COEX, Hyundai Motor’s Global Business Center and a major transit hub as a global business cluster.
Plans include a 30,000-seat dome stadium, an exhibition and convention center, sports facilities, offices, shops and hotels.
The project will be funded entirely by private money, making it the largest private-investment project of its kind, according to the fund.
Operating income over 40 years is to be reinvested in funds for balanced development across Seoul.
The plans also include renewable energy and other environmentally friendly infrastructure, but no construction timetable is given.
The Korea Credit Guarantee Fund will provide 1 trillion won in guarantees for senior debt on the Jamsil MICE project.
The support is intended to help the project secure private financing.
The development in Seoul’s Jamsil area is planned to include a 30,000-seat domed baseball stadium, an exhibition and convention center, and a multipurpose sports complex.
The project will be funded entirely with private capital, and its operating revenue for 40 years is to be reinvested in Seoul’s balanced-development funds.
Plans also include infrastructure using renewable energy such as solar power and heat from water sources.
- Who
- The Korea Credit Guarantee Fund.
- What
- It will provide 1 trillion won in industrial-base credit guarantees for senior debt on the project.
- When
- The fund announced the support on October 28, 2026.
- Where
- The project is in Jamsil, Seoul, South Korea.
- Why
- To support private financing for the development and help enable its timely launch.
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- Guarantee
- 1 trillion won
- Project location
- Jamsil, Seoul
- Domed baseball stadium
- 30,000 seats
- Funding
- Entirely private capital
- Revenue reinvestment period
- 40 years
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What people are saying
Smooth financial support for this large-scale private investment project will be an opportunity to improve people's quality of life and strengthen national competitiveness.
We will continue to provide more systematic and active support to boost the vitality of our economy and expand social infrastructure.