'Yeosu Gyeongdo Marine Tourism Complex' Stands at the Center of Blue Tour

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province announced on the 11th that it held a groundbreaking ceremony for the development of the ‘Yeosu Gyeongdo Marine Tourism Complex’ to transform Yeosu into a world-class tourist resort.

The groundbreaking ceremony was attended by local leaders including Park Hyun-joo, Chairman of Mirae Asset Group; Kim Young-rok, Governor of Jeonnam Province; National Assembly members Joo Cheol-hyun and Kim Hoe-jae; Lee Yong-jae, Chairman of the Jeollanam-do Provincial Council; Kim Gap-seop, Head of the Gwangyang Bay Area Free Economic Zone Authority; Kwon Oh-bong, Mayor of Yeosu; as well as representatives of local residents.

The Yeosu Gyeongdo Marine Tourism Complex, modeled after Singapore’s Sentosa, will invest 1.5 trillion won in an area of 2.15㎢ on Gyeongdo Island to develop hotels, condos, marine cable cars, commercial facilities, and more, creating a world-class integrated resort complex.

The province and Mirae Asset aim to develop the Yeosu Gyeongdo Marine Tourism Complex into a ‘world-class, Asia’s top resort’ that offers year-round tourism.

They plan to faithfully serve as a catalyst to make the South Coast region a tourism hub of the 21st century.

In particular, Mirae Asset has promised to promote local economic development and resolve youth unemployment by encouraging participation of local companies and prioritizing the employment of local talent during the development of the Yeosu Gyeongdo Marine Tourism Complex.

Jeonnam Province plans to complete the construction of the Gyeongdo access road by the end of 2024, when the main facilities of the tourism complex are scheduled to be completed, to support the infrastructure of the Yeosu Gyeongdo Marine Tourism Complex.

The Gyeongdo access road project has a total budget of 117.8 billion won. After passing the preliminary feasibility study by the Ministry of Economy and Finance at the end of last year and securing national funding, the basic plan is currently being established. The project will be tendered in a turnkey manner in July and construction will begin next year.

Kim Young-rok, Governor of Jeonnam Province, said, “The Yeosu Gyeongdo Marine Tourism Complex will elevate the tourism industry in the eastern region centered on Yeosu to the next level,” and added, “We will do our best to complete the new growth tourism belt in the South Coast region.”

Park Hyun-joo, Chairman of Mirae Asset Group, said, “We will develop Yeosu Gyeongdo with the highest quality and creativity to create a marine tourism complex that preserves culture.”

Meanwhile, Jeonnam Development Corporation established a golf course and resort on Gyeongdo Island in 2014. Mirae Asset signed a contract to pay the sale price of 340 billion won in installments by 2024, but after early payment of about 300 billion won in April, it is currently promoting the infrastructure development project.

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