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Seibu Group of Japan announced that it will cooperate with Taiwan-based Cathay Life Insurance to develop an “urban-style aquarium” in the Taiwan High Speed Rail (THSR) Taoyuan Station special zone of Taoyuan Aerotropolis near A18 Stop of the Taoyuan Airport Access Mass Rapid Transit (MRT). The project makes Cathay Life Insurance the first Taiwanese life insurance company entering the sectors of marine education and entertainment! On November 28, 2016 Cathay Life Insurance officially signed an agreement with Yokohama Hakkejima Inc., a subsidiary of Seibu Group, to develop a large-scale aquarium. Besides showcasing a wealth of living organisms and ecological diversity, the aquarium will integrate digital multimedia technology, entertainment effects and services to turn into a “next-generation aquarium”. The project is part of the wider Taoyuan Aerotropolis urban development that will include a cinema, amusement park, hotels and office buildings. With construction work kicking off in early 2017, the aquarium is scheduled for completion and inauguration in 2020. Featuring a total investment of more than NT$20 billion, it is forecast to attract 1.6 million visitors in the first year of its operation.
Seibu Group and Cathay Life Insurance will cooperate to develop a “next-generation aquarium” in Taiwan.
Yokohama Hakkejima Inc. has been established for more than 20 years and currently operates multiple aquariums in Japan including Yokohama Hakkejima Sea Paradise, Aqua Park Shinagawa, Sendai Aquarium, Joetsu Municipal Aquarium and Hamura Zoo. The aquarium development with Cathay Life Insurance marks the Japanese company’s first expansion overseas. Seibu Railway, also a subsidiary of Seibu Group, signed a “sister railway agreement” with the Taiwan Railways Administration. Moreover, Gloria Prince Hotel, Janfusan Prince Hotel and Nice Prince Hotel in Taiwan are all allied with Seibu Group.
Cathay Financial Holdings General Manager Chang-ken Lee pointed out that Taoyuan Aerotropolis is a flagship-class national development plan, and the THSR Taoyuan Station special zone, as part of the plan, is regarded by people on the outside as the largest development project along the THSR line. With solid land development and investor attraction capabilities, Cathay Life Insurance acquired Seibu Group’s first overseas aquarium business development project. The aquarium development concept aims to increase consumer traffic and product diversity for the special zone and further drive regional prosperity. Cathay Life Insurance will work with the government to promote the competitiveness of local industries. General Manager Chang-ken Lee emphasized that the project marks their first investment in the aquarium business and is also Seibu Group’s first overseas operation. He believed the cooperation between the two groups will generate win-win results. (2016/12, No. 149GTI)
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