Shinsegae Group and OKO Group announced a US$500 million joint venture to develop luxury hotels and other properties under the Aman and Janu brands, signaling a strategic push into global premium hospitality. The agreement, signed in Seoul by Shinsegae Chairman Chung Yong-jin and OKO Chairman Vlad Doronin via Shinsegae Property, aims to combine Shinsegae’s large-scale development capabilities with OKO’s expertise in luxury hotel projects. The venture will target Asia and North America for luxury hotels and branded residences, while also pursuing commercial and mixed-use real estate projects in South Korea. The initial focus is on Aman and Janu properties, with plans to expand collaboration across global hospitality and real estate developments. Aman Group operates a portfolio of 36 hotels, resorts, and residences worldwide, while OKO Group oversees development of Aman and Janu-branded properties. This move expands Shinsegae’s real estate footprint and signals growth into overseas markets under CEO Chung Yong-jin.