Change in Development Method for Anmyeondo Tourist Site... Project Proposals Accepted in November

[Asia Economy (Hongseong) Reporter Jeong Il-woong] The development of the Anmyeondo tourist site will resume with a changed project method.

On the 11th, Chungnam Province announced that it will start the public offering process for the Anmyeondo tourist site development project and accept project proposals until November.

This project aims to create a leisure tourism site along the West Coast by 2025, with a total project cost of 1.8852 trillion KRW, constructing a theme park, water park, training center, condos, golf course, and commercial facilities on a 2,941,735㎡ area in Seungeon, Jungjang, and Sinya-ri, Anmyeon-eup, Taean-gun.

The public offering resumed 19 months after the cancellation of the district 3 project agreement in January. The province has been conducting one-on-one visits and consultations with 56 companies and a professional consulting firm to find solutions for the Anmyeondo tourist site development.

Through this, the province identified issues such as investment avoidance in tourism and leisure sectors due to the economic downturn caused by COVID-19 and the cost burden on developers from purchasing project sites, and improved guidelines related to the development method.

The guidelines were changed from the previous development method, which required full land purchase, to allow full purchase, partial purchase, or full lease of the land.

Also, if the existing Anmyeondo tourist site development plan needs to be changed, the developer can submit the revised plan to the province for approval.

Based on the changed project method, the province will first start the public offering for districts 1, 3, and 4, excluding district 2 among the four project target districts.

On the 369,872㎡ site of district 1, a theme park including a water park and premium outlet is planned. On the 544,924㎡ seaside site of district 3, condos will be constructed. On the 1,595,560㎡ site of district 4, a golf course and commercial facilities will be developed.

District 2 (431,379㎡), excluded from this public offering, is planned to host the Ministry of Strategy and Finance’s Narakeum Policy Training Center and is scheduled to begin construction in October this year.

The development will proceed by selecting a preferred negotiator through a public offering of project proposals by district, signing a project agreement and land sales contract, and implementing the project according to the agreement with the developer.

The public offering period is from the 11th of this month to November 8th (90 days), and any domestic company or domestic and foreign corporation (individually or as a consortium) capable of carrying out the Anmyeondo tourist site development project can participate.

Project proposals must be submitted by 5 p.m. on November 9th to the Anmyeondo Development Team at the provincial government office.

The province plans to select the preferred negotiator by December after first and second evaluations of the project proposals and to sign the main contract by March next year.

A provincial official said, “We improved the public offering contents to reduce the land price and construction cost burden on developers from purchasing project sites and to allow developers to propose projects creatively by changing the development plan,” and added, “We ask for the active interest and participation of investors.”

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