Too Strict? Yeongnam Alps Cable Car Public Offering Criteria Relaxed and Reannounced

Revision of Third-Party Proposal Call for 50 Billion Won Private Investment Project... Participation Criteria Relaxed to Encourage Multi-Party Competition

Overview of the Yeongnam Alps Cable Car Project.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan Ulju-gun has relaxed the criteria for private business operator proposals for the Yeongnam Alps Cable Car project, with a total project cost of 50 billion KRW, and has re-announced the public offering.

The Yeongnam Alps Cable Car is a mountain tourism project operated by cable car between the Bokhap Welcome Center in Deunggeok-ri, Sangbuk-myeon, Ulju-gun, and Sinbulsan Ganwoljae, promoted through private investment.

Ulju-gun announced a third-party proposal public offering to attract private business operators for this project on September 14, and accepted written inquiries from September 26 to 28.

As a result of the submissions, objections were raised by some companies wishing to participate in the project, stating that the evaluation items focusing on cableway facility operation performance and capital/financial statements were excessive restrictions.

After reviewing the relevant evaluation items, Ulju-gun decided to re-announce the public offering with relaxed participation criteria to encourage competition.

The newly established evaluation items changed the existing cableway facility operation performance to the domestic cableway facility installation performance of the manufacturer, and the operator evaluation based on capital and financial statements was changed to the evaluation of the representative company to eliminate dissatisfaction among participating companies.

The re-announcement period is 90 days, from September 29 to December 28.

An Ulju-gun official said, “Although the original cable car public offering was made from an operational perspective, it was judged that multi-party competition would be difficult, so it was revised this time,” and added, “We expect more companies to participate in the public offering through this re-announcement.”

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