Ulleungdo Dream Co., Ltd. announced that it plans to gradually pursue a complex resort model that combines wellness, medical healing, and long-term stay tourism content along with hotel operations in the future.

A large-scale private hotel development project targeting Ulleungdo's future tourism industry is set to proceed in earnest.

Ulleungdo Dream Co., Ltd. announced that it has completed the licensing procedures and land acquisition for the 'Ulleungdo Ocean Forest Hotel Development Project' being pursued in the northern part of Ulleung County and has begun preparations for full-scale construction.

This project is evaluated not merely as accommodation facility development, but as a premium complex healing resort business aimed at preempting the rapidly changing Ulleungdo tourism market after the opening of Ulleung Airport.

Notably, it is known that there were multiple offers from Chinese and Japanese capital to purchase the project during its development process, but the developer rejected all of them and opted for direct development.

A representative from Ulleungdo Dream Co., Ltd. stated, "Ulleungdo is not just real estate, but an island that embodies the symbolism and future value of South Korea," adding, "Rather than handing it over to foreign capital, we wanted to directly create a new center for South Korean tourism."

This project will be pursued on a site of approximately 6,400 pyeong (about 21,156 square meters) in Hyeonpo-ri, Buk-myeon, Ulleung County, and will feature 278 rooms spread across five basement levels and four above-ground floors, along with various ancillary facilities.

According to the business feasibility study report, the project is assessed to have a stable business structure, having already secured key procedures such as △land purchase △registration completion △and licensing procedures completion, unlike typical development projects.

The industry is particularly focused on the potential shift in Ulleungdo's tourism axis following the opening of Ulleung Airport.

The analysis suggests that development value in the northern region, which is close to the Nari Basin, Gwaneumdo, and Cheonbu tourism belts, will rapidly increase, moving away from the current central structure around Ulleung County Office and the airport site.

In reality, the project site is located within a 10-minute drive from Ulleungdo's key tourist attractions such as Gwaneumdo, Nari Basin, and Cheonbu Submarine Observatory, and boasts excellent accessibility connected to the island's ring road.

Ulleungdo's tourism market is currently experiencing rapid growth.

Ulleung Airport, scheduled to open in 2028, will connect the Seoul metropolitan area and Ulleungdo into a one-hour living sphere, with an expected influx of over one million tourists annually.

However, accommodation supply remains severely insufficient compared to the increase in tourists. The report estimates a shortage of approximately 1,111 rooms in Ulleungdo as of 2027.

In particular, accommodation facilities of 3-star or higher are currently limited to around 300 rooms, including Ramada Ulleung and some resorts, indicating a high probability of a surge in premium accommodation demand in the future.

The hotel is also considering the introduction of a global brand in the future.

The report mentions the possibility of collaboration with global chain brands such as Hilton, Hyatt, Marriott, and IHG, and also indicates plans for high-end ancillary facilities including an infinity pool, convention hall, banquet hall, and premium restaurants.

Ulleung County and Gyeongsangbuk-do Province are also accelerating the expansion of tourism infrastructure.

The Ministry of Culture, Sports and Tourism has selected Ulleungdo as a recipient of the 'K-Tourism Island Development Project,' and Ulleung County is pursuing the attraction of high-end accommodation and large resorts as a key policy of its 8th popularly elected administration.

A tourism industry official commented, "Ulleungdo is highly likely to transform into a completely different market after the opening of Ulleung Airport," adding, "Given that premium accommodation facilities are the most lacking area currently, this project holds significant symbolic value and rarity."

Meanwhile, Ulleungdo Dream Co., Ltd. announced that it plans to gradually pursue a complex resort model that combines wellness, medical healing, and long-term stay tourism content along with hotel operations in the future.