Casino operator Mohegan Sun is teaming up with KCC Corp. to build a $5 billion integrated resort complex on Yeongjong Island in South Korea.

The South Korean chemicals maker has acquired a 24.5 percent stake for $176 million (203 billion won) in Mohegan Sun’s local subsidiary, Inspired Integrated Resort Co., Yonhap News reported.

Connecticut-based Mohegan Sun has until Nov. 27 to submit its application for an integrated resort in the island, which also houses the Incheon International Airport, according to the report.

The Ministry of Culture, Sports and Tourism started accepting in August requests for proposal (RFP) for nine sites, including Ung-dong in Jinhae Free Economic Zone of Gyeongsangnam-do, a redevelopment area in Busan North Port, Yeosu Gyeongdo Tourism Complex in Jeollanam and six sites within Incheon.