Skyline executive chairman Mark Quickfall said the company was excited to share the luge concept with South Korea.
"This has been a very rewarding project, with many positive relationships formed with South Korea and Tongyeong City," Quickfall said.
"We employ 50 people at Skyline Luge Tongyeong - with a further 50 employees expected - and we are delighted that this level of investment has been so well received by South Korea since early planning days."
Quickfall said the luge project was the largest direct capital investment in South Korea by a New Zealand company.
Officials from South Korea and New Zealand Trade and Enterprise were involved in the development process.
"Although new to Korea we know Korean guests love the luge," Quickfall said.
"This is based on numbers riding in the first week at Tongyeong and at our other sites."
"In fact, Korea provides the second-highest number of international riders at Skyline Luge Sentosa, in Singapore," he said.
"For the first six days Skyline Luge Tongyeong has operated well ahead of our estimates, which bodes extremely well for the future of our new operation."
The luge is located directly below the coastal city's iconic Hallyeosudo Landscape Cable Car.
Tongyeong is a domestic tourism hotspot and the cable car attracts more than 1 million visitors each year.
Skyline has been operating the luge in New Zealand for more than 30 years and also has sites in Canada and Singapore.
The Skyline Luge Tongyeong will be the company's 6th site.
