South Korea’s Shinsegae Group has announced a major strategic partnership with international real estate developer OKO Group, marking a significant step into the global luxury hospitality market. The agreement will see the companies jointly develop high-end Aman and Janu hotels, branded residences and mixed-use destinations through an initial investment of $500 million.
The collaboration reflects growing demand for premium hospitality experiences and large-scale mixed-use developments that combine luxury accommodation with residential, retail and lifestyle components. Both companies believe the partnership will create projects that appeal to affluent travelers, long-term residents and international investors.
According to the original report published by The Korea Herald, the agreement also includes plans to cooperate on commercial real estate developments in both South Korea and international markets, extending beyond traditional hospitality projects.
Partnership combines global hospitality and real estate expertise
The newly announced venture brings together two companies with complementary strengths. Shinsegae Group has earned a strong reputation in South Korea through the development of large-scale commercial and mixed-use destinations, while OKO Group has become one of the most recognizable names in luxury hospitality development.
The joint venture will focus on creating Aman and Janu hotels alongside branded residences, offering integrated destinations where hospitality, residential living, retail and entertainment coexist within a single development.
Executives from both companies believe this combination of expertise will accelerate the expansion of premium hospitality projects into new international markets.
OKO Group has already played a central role in delivering several Aman-branded developments across the world, making it one of the company’s longest-standing development partners. Its experience in luxury real estate is expected to complement Shinsegae’s capabilities in urban planning and mixed-use construction.
Aman and Janu continue expanding internationally
Aman remains one of the world’s most exclusive luxury hospitality brands. Since opening its first resort in Phuket, Thailand, the company has steadily expanded its portfolio to include dozens of luxury hotels, resorts and branded residences located across major global cities as well as secluded destinations.
Today, the brand operates 36 properties across 21 destinations, serving travelers seeking highly personalized experiences and premium accommodation.
In 2020, Aman introduced Janu, a lifestyle-focused luxury brand designed to attract a broader audience while maintaining the group’s commitment to exceptional service and design. Since its launch, Janu has entered several high-profile markets, including Tokyo, Dubai, Saudi Arabia and Montenegro, reflecting increasing global demand for upscale lifestyle hospitality.
The new partnership is expected to support the continued international growth of both brands through carefully selected developments in strategically important markets.
Leaders outline a long-term global vision
Shinsegae Group Chairman Chung Yong-jin described the agreement as an important milestone in the company’s international expansion strategy. According to him, Shinsegae Property has successfully demonstrated its ability to deliver large-scale integrated developments in South Korea, and the company is confident that this expertise can be applied to projects around the world.
He noted that combining the strengths of both organizations would create new benchmarks for luxury hospitality while delivering long-term value for guests, investors and local communities.
OKO Group Chief Executive Officer Vladislav Doronin, who is also the owner of Aman Group, welcomed the collaboration and emphasized the strategic advantages of working alongside one of South Korea’s leading property developers.
He said Shinsegae’s experience in complex real estate developments and financial markets makes the company an ideal long-term partner for future international projects. Doronin added that both organizations share a common vision of developing distinctive destinations capable of attracting visitors from around the world while contributing positively to local economies.
Industry analysts view the partnership as another indication that demand for branded residences and integrated luxury destinations continues to grow despite ongoing global economic uncertainty. As affluent travelers increasingly seek exclusive experiences that combine premium accommodation, lifestyle amenities and long-term investment opportunities, collaborations between hospitality operators and real estate developers are becoming a defining trend across the global property sector.
With an initial investment of half a billion dollars and ambitions that extend well beyond South Korea, the Shinsegae–OKO alliance positions both companies to play a larger role in shaping the future of international luxury hospitality and mixed-use real estate development.