IH Group Chairman Kyunam Kim and other officials of his company toured the Imperial Pacific International’s casino, the 15-room luxury villa, and the unfinished hotel tower in Garapan on Sunday. The South Korean investor also vowed to help improve the local economy.
IH Group Chairman Kyunam Kim, right, and Imperial Pacific International board adviser Hongtao Su at the IPI hotel-casino in Garapan on Sunday.
Kim was accompanied by IPI board adviser Hongtao Su and IH Group local partner Vianney Hocog.
IH Group has signed a $150 million investment contract with IPI which is facing several lawsuits from former vendors and employees, as well as several complaints filed by the Commonwealth Casino Commission.
The South Korea-based company plans to take over the operations of IPI’s casino and the luxury villas, and promised to continue the construction of the hotel tower.
In an interview during the tour, Kim said “this project…will soon proceed smoothly and will contribute greatly to the economic recovery of the CNMI.”
He said they “would like to emphasize the trust between our group and Mr. Xu,”
Kim earlier said IH Group was “carefully reviewing” its investment agreement with IPI. He said IH Group was thankful to IPI for its trust, and IH was willing to help resolve the issues facing IPI.
