Saemangeum Development Agency Develops Tourist Attraction Project Near No.1 Seawall...Attention

[Asia Economy Honam Reporting Headquarters Reporter Gominhyeong] The project to develop a landmark near Saemangeum No. 1 Embankment is drawing attention.

On the 21st, according to the Saemangeum Development Agency, the agency signed an investment agreement for a tourism development project on the landmark site near Saemangeum No. 1 Embankment with the NS Partners Consortium.

The signing ceremony was attended by five companies including NS Studio Co., Ltd., the project implementation lead company, STX Construction Co., Ltd., Gunjang Comprehensive Construction Co., Ltd., Woosang Construction Co., Ltd., and the Korea VRAR Content Promotion Association, as well as the Saemangeum Development Agency, Jeonbuk Province, Buan County, and the Korea Rural Community Corporation.

The tourism development project on the landmark site will be carried out until 2025, with a total project cost of 81.3 billion KRW.

In the first phase, a VR (Virtual Reality) theme park and a luxury resort will be constructed in line with the 2023 World Jamboree schedule, and in the second phase, a terrace-style family resort and an exhibition convention center will be built by 2025.

The theme park and resort, which will be promoted in the first phase, will be managed by specialized companies with relevant management capabilities in each field to ensure early stabilization and differentiated operation of the project.

The VR theme park will be developed and operated by the Korea VRAR Content Promotion Association, which will handle the project content and facilities, while the resort will be operated under a contract with the InterContinental Hotels Group, which has a global chain network.

The NS Partners Consortium will promptly establish a project implementation corporation to practically advance the project after the signing ceremony, obtain the status of project implementer, and begin construction.

After securing the project implementer status, an integrated development plan combining the basic plan and implementation plan will be established according to the Saemangeum Project Act, and the permit procedures will be completed by April next year, with development work scheduled to start in June.

Kim Hyun-sook, head of the Saemangeum Development Agency, said, “I hope that the VR theme park and resort development project, for which the investment agreement was signed today, will be successfully promoted and developed into a world-class tourist destination.”

This content was produced with the assistance of AI translation services.