Kolon Global announced on Sept. 30 that it signed a memorandum of understanding (MOU) with Toscana Valley Group, an affiliate of Thailand's largest real estate developer, Ananda Group, to establish a strategic partnership.
Kolon Global CEO Yoon Chang-woon met Toscana Valley CEO Torboon Khamnaphat at Toscana Valley Resort in Thailand on Sept. 29 to talk about business areas where the two companies can create synergy, and agreed to build strategic global partnerships.
Based on K-beauty, which is currently gaining huge popularity in Thailand, the two companies agreed to jointly push for the "stay-type wellness" business such as medical cosmetic surgery, anti-aging, stem cells and healthcare.
They will build a Korean-style wellness center at the Toscana Valley resort complex, a top-end golf resort in Khao Yai National Park in Thailand, to attract Thai and nearby Southeast Asian consumers who are interested in hallyu content and K-beauty.
In addition, Kolon Global will push for cooperation in the construction sector, including environment, civil engineering and infrastructure projects, including water treatment areas with technological edge.
Kolon Global will also work with Toscana Valley Group on the second stage development project of the LavieestBelle Complex Resort, which is being operated in Chuncheon.
"The agreement has paved the way for Kolon Global to seek new projects in both Thailand and Korea based on its construction and commercial projects," a Kolon Global official said. "In particular, Kolon Global's commercial business division has expanded its trading business to establish its status as a future complex real estate developer such as health management."