Josukho, Gwangju City Council Member, "The Eodeungsan Tourism Complex Development Project's Long-term Stagnation Must Be Corrected"
[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] A call has been made to rectify the ‘Eodeungsan Tourism Complex Development Project,’ which has been stalled for 15 years.
On the 27th, Assemblyman Jo Seok-ho (Buk-gu 4) expressed concerns during a 5-minute speech at the 6th plenary session of the 293rd extraordinary meeting of the Gwangju Metropolitan Council, stating, “Recently, the court approved the injunction to exclude Seojin Construction from the status of the preferred negotiator. The prolonged litigation means that the damage will directly fall on the citizens.”
Currently, Gwangju City is engaged in a protracted legal battle with Seojin Construction over the legality of excluding Seojin Construction from the status of the preferred negotiator for the ‘Eodeungsan Tourism Complex Development Project’ and the return of 4.8 billion KRW as a performance bond. The first trial verdict, which will determine whether the exclusion of the preferred negotiator status was appropriate, is scheduled for December 10.
Assemblyman Jo pointed out, “Regardless of which side wins, both Gwangju City and Seojin Construction are highly likely to appeal the court’s ruling, raising concerns that the ‘Eodeungsan Tourism Complex Development Project’ could once again be stalled for a long period.”
He continued, “After Seojin Construction was stripped of its preferred negotiator status, our city devised a desperate plan to select a new private developer by doubling the commercial facility area from 24,170㎡ in the third public offering to 48,340㎡ and awarding higher scores to those proposing the minimum area. However, due to opposition from small business owners and lawsuits from Seojin Construction, the timing of the fourth public offering remains uncertain.”
As an alternative, he emphasized the precedent set in June 2016 when the Gwangju District Court issued a compulsory mediation decision, granting ownership of the Eodeungsan Golf Course to Eodeungsan Resort, while the amusement park and scenic green areas were donated to Gwangju City, and proposed applying for compulsory mediation by the court.
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "Trump and Netanyahu Hold Talks on Iran War...Possibility of Resuming Military Action"
- Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]
- "That? It's Already Stashed" Nightlife Scene Crosses the Line [ChwiYak Nation] ③
Assemblyman Jo explained that the compulsory mediation application would proceed while maintaining the commercial facility area of 24,170㎡ presented in the third public offering, which could alleviate opposition from small business owners and provide a way to evaluate Seojin Construction’s willingness to proceed with the project.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.