Global luxury hotel and resort group Aman is planning to open a new high-end resort complex in Aewol, Jeju Island, South Korea. The project will mark the first Janu-branded property in the country, and Aman is currently in talks with overseas investors to secure funding.

The development, named "Janu Jeju Hotel & Residences," will be built on a 222,487 m² site in Yusuam-ri, Aewol-eup. It will include a 95-room hotel, 57 condominium-style residences, a convention center, banquet halls, wellness facilities, and exhibition spaces.

The project is being led by Yeolhaedang, a Korean real estate and resort management company established in 2012. Yeolhaedang will oversee investment and construction, while Aman will manage hotel operations. Yeolhaedang's current major shareholder is Studio Santa Claus Entertainment, but it is expected to transfer ownership to Lucid Holdings, a company in the finance and insurance sector, by May 30, 2025.

More Accessible Luxury Brand

Janu is a more accessible luxury brand under Aman, offering a slightly more affordable experience while maintaining a high level of service. While a typical stay at an Aman property might cost USD 3,000–7,500 per night, Janu stays are expected to be priced around USD 750 per night—still placing it above many top-tier domestic hotels, such as the Banyan Tree Seoul.

According to a recent investment memorandum released by Aman and Yeolhaedang, the total project cost is estimated at around USD 600 million, including land and construction expenses.

Development Timeline

Construction is scheduled to begin in September 2025, with the resort set to open by the end of 2027. Once completed, Janu Jeju will be the sixth Janu property worldwide, and the third in Asia, following Japan and Thailand.

The Jeju resort project has faced several delays. Originally initiated by Yeolhaedang in 2016 with backing from Chinese investors, it was halted due to funding issues. The project changed hands in 2022, but little progress was made until late 2023, when the Jeju government approved a revised development plan. This extended the project timeline by four years and increased the allowed investment size.

In addition to the Jeju project, Aman is also expected to manage a hotel and residence as part of a redevelopment project in Seoul's upscale Cheongdam neighborhood, led by Shinsegae Group. Although the site was initially planned for the Janu brand, the parties have since agreed to introduce the higher-tier Aman brand instead.

This article was published in Corebeat on 13th of January, 2025.