Gwangyang City to Begin Land Acquisition for 'Gubongsan Tourist Complex Development Project' on the 27th

Operation of Tourism Complex Development Support Office on the 3rd Floor of Golyak-dong Community Center

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Gwangyang City, which is fostering tourism as a sustainable future growth engine, announced on the 20th that it will actively provide administrative support for the successful development of the Gubongsan Tourist Complex.

The city presented a multifaceted administrative support plan to facilitate smooth land sale contract agreements between LF Networks Co., Ltd., the scheduled operator of the Gubongsan Tourist Complex development project, and landowners, as well as to expedite the project’s progress.

Before the land acquisition starting on the 27th, a meeting with representatives of landowners for the Gubongsan Tourist Complex development project was held on the 17th to discuss the procedures for land acquisition.

To prevent the spread of COVID-19, land sale contracts will be conducted in a staggered manner. Residents with a Gwangyang City address will proceed with contracts over two weeks from July 27 to August 7, while others will proceed over three weeks from August 10 to August 28.

A support office for the tourist complex development has been established on the 3rd floor of the Goryak-dong Community Center to assist with receiving sales contracts, reviewing submitted documents, and drafting, as well as providing guidance on the overall project progress, including payment schedules.

Additionally, through administrative support such as operating a dedicated legal affairs officer for registration transfer and a tax accountant responsible for capital gains tax, the city plans to complete early acquisition of two-thirds of the project site’s land to accelerate the Gubongsan Tourist Complex project.

The land targeted for acquisition consists of 467 parcels totaling 1,909,416㎡, including fixtures and graves, with a total purchase amount of 43.989 billion KRW. The payment will be made in a lump sum once contracts covering more than two-thirds of the land area are signed.

To ensure swift administrative procedures, the city plans to sign an investment agreement for the tourist complex development among Gwangyang City, Jeollanam-do Province, and LF Networks Co., Ltd. in September, proceed with administrative procedures such as permit applications to Jeollanam-do in January next year, and complete construction by December 2023.

Lee Hwa-yeop, Director of the Tourism Division, stated, “Once the Gubongsan Tourist Complex is successfully developed, it will create about 300 jobs and generate economic ripple effects such as increased tax revenue. Along with the nearby Gubongsan Observatory and the tentatively named family-themed park, it will serve as a hub connecting Baegunsan Mountain and the Seomjin River.” He also requested active participation and cooperation from landowners.

Meanwhile, the Gubongsan Tourist Complex development project is part of a regional cooperation project submitted by LF Networks Co., Ltd. to Gwangyang City along with the opening of Gwangyang LF Square in 2017. The project involves an investment of 170 billion KRW to develop a large-scale tourist complex including a 100-room hotel, three luge tracks, trekking courses, and a 27-hole golf course.

Since August last year, three rounds of resident briefings have been held, and appraisals of land and fixtures have been completed.

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