The Toyoko Inn Co., Japan’s largest business hotel chain operator, plans to open a business hotel next year in the city of Daejeon, central South Korea, officials from the Daejeon municipal government said Thursday.

The Toyoko Inn Development Korea Co., the Japanese firm’s South Korean unit, and local firm Solomon Holdings Co. have signed a deal under which Solomon will cede the hotel to Toyoko for 30 years after completing the construction of the hotel.

Construction of the 20-story, 350-room hotel is expected to start next month for completion prior to the opening of an international convention and national athletic event in the South Korean city, the officials said.

The plan came after the Japanese hotel operator launched a business hotel in Busan, South Korea’s biggest port city, on Monday. The Busan hotel, with 23 floors and 491 rooms, is Toyoko’s first hotel in the country.

Toyoko runs 176 business hotels, with 33,400 guest rooms, in Japan.

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