MARIANAS Global Inc. is a Korean-based investment company that signed an agreement with the Department of Public Lands to operate Managaha based on a “shared vision” of the CNMI.
In a statement, MGI Founder and Chief Executive Officer Younghee Yoon said his company was established in 2018 “with the vision of harnessing the untapped potential of the Northern Mariana Islands’ pristine natural environment and transforming it into a thriving tourism destination.”
Yoon said they have “embarked on a 15-year journey beginning on July 1, 2023, to develop and oversee the transformation of Managaha Island,” one of the CNMI’s most famous and iconic tourist sites.
This Saturday, Aug. 5, MGI will start selling meals and provide various marine sports activities such as snorkeling and parasailing at Managaha.
Yoon said they have established a consulting partnership with McCann World Group, a leading global marketing services company.
Through this collaboration, he said, they have undertaken comprehensive research on the CNMI tourism industry with a particular focus on the development potential of Managaha.
Yoon said the CNMI, particularly Saipan, is “comparable to the tourist destinations in the Caribbean and the Indian Ocean.”
Currently, however, he said Saipan “is concentrated in the limited regional market of Northeast Asia, and has positioned itself as an affordable tourist destination, catering to the common people.”
As a result, he said, Saipan, as a destination, “relies on a modest tourism infrastructure tailored to the preferences of these visitors, despite its exceptional natural environment.”
He said many honeymooners from Korea willingly travel more than 20 hours and spend over $10,000 to visit destinations like the Maldives or Cancun.
The reason they do not choose Saipan, which is only a four-and-a-half-hour flight away and costs 20% less than the Maldives or Cancun, “is simply due to the lack of awareness and the existing level of tourism infrastructure,” Yoon said.
He said they intend to “focus on this aspect” of the local tourism industry.
“It will require additional planning, effort, and investment, as well as a considerable amount of time. But we see the current situation where Saipan, which possesses the splendor of the Pacific, which is superior to the Caribbean or the Indian Ocean, lags behind due to the lack of human effort and investment,” Yoon said. “We have chosen to start with Managaha Island, a pearl in the Pacific and one of the prime marine leisure destinations in the world.”
World class
Yoon said that by the end of 2023, MGI will have invested a total of $10 million to transform Managaha into a world-class marine leisure town. He said tourists visiting Managaha will be able to enjoy top-notch resort facilities, marine sports equipment, and unlimited food and beverages.
In addition, MGI is also planning to construct a floating hotel that will “surpass the luxury resorts in the Maldives.”
This hotel is designed for the $10,000 customers and will lead to the upscale development of Saipan’s tourist attractions, Yoon said.
Yoon said their top priority is the “harmony between nature and humans.”
“We firmly believe that the development of a tourist destination should never involve the destruction of nature. Instead, it should serve as a demonstration of coexistence with the environment, showcasing practices that align with the principles of sustainability and environmental stewardship. By adhering to these principles, we aim to set an example of responsible tourism that showcases the synergy between nature and human activities,” Yoon said.
“We have resolved to transform Managaha…into an environmentally sustainable destination, embracing eco-friendly practices and initiatives. Here, we will refrain from using any chemicals that are harmful to marine ecosystems, including sunscreen that has a detrimental impact. We will also eliminate the use of disposable items on the island,” he added.
He said MGI has designated Managaha as the starting point in the fight against Pacific marine pollution. “From here, we will clean up Pacific Ocean garbage and microplastics and make efforts to restore the marine ecosystem in the Pacific that is plagued by chemicals,” he added.
Yoon said they have committed to invest 5% of the revenue generated from Managaha into these efforts. Additionally, they intend to invest $10 million for the construction of a waste incineration plant on Saipan.
He said Managaha “is poised to become the world’s premier marine leisure tourism destination. With our unwavering commitment to its development, we are confident that Managaha…will stand as a beacon of excellence in the global tourism landscape. To convey its unique essence, we will launch an advertising campaign with the tagline ‘A Tranquil Oasis in the Pacific.’ This signifies that Managaha…offers more than just a pause to admire the beauty of nature; it represents an immersive experience that rejuvenates the mind, body, and soul.”
Yoon added, “Imagine crossing the morning seas of the Pacific and arriving at Managaha…. The island’s beach is equipped with luxurious sunbeds, parasols, and beach towels. A top-class buffet consisting of freshly cooked food, served throughout the day. From 9 a.m. to 6 p.m., visitors can enjoy unlimited access to over 20 marine leisure activities, ranging from snorkeling in the ocean to parasailing in the sky. The beach café, rental shops, locker rooms, beach showers, and all other facilities are being renovated to the highest standards.”
All this, he said, can be enjoyed for $100 only, “allowing visitors to experience the world’s finest marine leisure without financial burden. It will become a place where anything is possible and where burdens are lost, a small paradise in the Pacific,” he added.
Yoon expressed hope that the CNMI government and the local community will support MGI. He vowed to donate $200,000 annually to preserve and develop the Chamorro and Carolinian cultures. MGI will also allocate $1 million each year for student scholarships and other contributions to the local community.
“We will open up the future of Saipan. We hope that the Saipan government and local community will join us in our resolute endeavor,” Yoon said.
According to the master concession agreement, MGI will pay $800,000 in annual base rent, 9% business gross receipts rent, and over $200,000 in annual public benefit contribution.
