U.S. tribal casino operator Mohegan Sun has forged new agreements with Incheon International Airport Corp. (IIAC) in connection with the planned casino project in Incheon, South Korea.

Mitchell Etess, president and chief executive of Mohegan Sun, announced that it signed a development services agreement with IIAC concerning the construction of Inspire Integrated Resort. The casino project is a consortium among Mohegan Sun, IIAC and South Korean chemicals manufacturer KCC Corp.

Under the said agreement, Mohegan Sun will receive US$40 million over the development period for the project.

He described the agreements signed as “important” in order for the project to move forward. The consortium is targeting the construction of Inspire to begin late this year or early next year. The casino operator expects the construction to be finished in three to four years.