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November 2, 2012

South Korea says new city will rival Macau and Vegas

  • The goal is to eventually attract up to $290 billion in investments by 2030 to build casinos, hotels, auto racing tracks, a marina and K-pop concert halls.
  • By YOUKYUNG LEE
    AP Business Writer

    SEOUL, South Korea — South Korea's Incheon city said Wednesday it aims to transform a small fishing island off the country's west coast into a hub of tourism, shopping and gambling to rival Macau and Las Vegas.

    The city, 28 kilometers (17 miles) west of the capital Seoul, hopes to eventually attract up to $290 billion in investments by 2030 to build casinos, hotels, auto racing tracks, a marina and K-pop concert halls in its district of Yongyu-Muui.


     
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