Mr Chung-il Cho (last name Cho), founder of international fintech company Kona I, invested over USD 220 million to reconceive traditional courtyard, or “hanok”, architecture as a setting for a holistic experience of Korean heritage and thought, on a scenic mountain top. There is absolutely no ROI for this 130-acre (52-hectare) passion project. While Mr Cho’s mind was fully engaged, for example in developing microwave technology to fortify moisture-sensitive wood so that it could more durably bear greater loads, the project comes on a massive electromagnetic pulse straight from Mr Cho’s heart. Mr Cho is, of course, remarkably compelling in articulating this elegant dream and the opportunity he has realised for luxury travellers to South Korea. We are delighted to let him speak for himself in our short interview below.
The Hanok Heritage Founder’s Interview

What is your background, and how did you get involved in this project?
Before I entered the technology industry, I studied physics. During that time, I often thought about how we cannot choose when we are born, but we can choose the space we live in and the experiences we bring into our lives. That idea stayed with me. In 1998, I founded an IT company that now operates in more than ninety countries. As my work became increasingly digital, I found myself thinking more about the value of the physical and the real. Digital technology can reproduce or extend an experience, but it cannot fully replace the original. Working internationally also showed me that Korean companies are most compelling when they speak from their own culture rather than imitate others. The Hanok Heritage grew out of those beliefs.
Hanok Heritage idealizes Korean traditional architecture. What inspired this incredible project?
Architecture can remain as part of a country’s culture for hundreds of years. You can see this in the historic cities of Europe, where buildings continue to shape the identity of a place long after they were constructed. For Korea, the hanok is an important part of that architectural identity. However, its development was interrupted during the Japanese colonial period and the Korean War. Hanok continued to be admired for their beauty, but they were not always practical for contemporary living. We spent thirteen years studying how to address this. We began with the timber and developed a drying process that reduced the seasoning period from ten years to six months. We also worked on insulation, heating, soundproofing, and double-glazed windows, while being careful not to compromise the architecture’s character. The interiors followed the same approach. We wanted to respect the proportions and atmosphere of a traditional hanok while creating the level of comfort guests expect from a luxury retreat today. We aimed to make the hanok part of everyday life again, rather than something that could only be observed as part of the past.
What are your goals for the project, and—in a perfect world—how do you envision its future?
I did not begin The Hanok Heritage simply because I wanted to operate a hotel. I wanted to create a place where people could experience Korean culture through the way they stay, dine, rest, and spend their time. Architecture is at the center of the property, but cuisine, wellness, craftsmanship, and hospitality are also important parts of the experience. I hope guests will return and gradually form a lasting connection with the property and with the culture behind it. In the future, I would also like to build hanok in cities outside Korea, including New York and Paris. I believe Korean architecture can belong in many different parts of the world while retaining its identity. This is a long-term vision, and The Hanok Heritage is its beginning.
Why should overseas visitors stay at The Hanok Heritage?
Many international visitors see individual arts of Korean culture during their travels, but it can be difficult to experience them together in one place. At The Hanok Heritage, the architecture is not simply a backdrop. Guests stay within it and experience how the spaces relate to the surrounding landscape and to daily life. Korean cuisine is presented through Monto, our fine-dining restaurant, while Namu offers a more relaxed setting throughout the day. Guests can also experience cultural programs, the spa, and indoor and outdoor pools within the mountains of Yeongwol. At the same time, the property provides the comfort and attentive service expected of a five-star hotel. I hope a stay here gives guests a more personal understanding of Korea, shaped by what they experienced rather than only by what they saw.
