LCS Group of Companies to invest in SoKor project

THE LCS Group of Companies, chaired by Narvacan, Ilocos Sur Mayor Chavit Singson, agreed to join a $1.7 billion resort development in South Korea, marking the first firm from Southeast Asia to invest in a property project in Northeast Asia. Mr. Singson recently signed a memorandum of understanding to invest and participate in the project in South Korea’s east coast with the Gangwon Province government, East Coast Free Economic Zone Authority, Korea Investment and Securities Co., and Hyundai Asset Management Co. LCS Group is set to invest up to $100 million. The project, which is expected to cost as much as $1.7 billion, includes the construction of resort centers and ocean complexes in Donghae city in Seoul.