Military Mutual Aid Association Accelerates Progress on Gimhae Complex Sports and Leisure Facility Development Project

[Asia Economy Reporter Park So-yeon] The Korea Military Mutual Aid Association's Gimhae Complex Sports and Leisure Facility Development Project is gaining momentum. The Korea Military Mutual Aid Association has rapidly grown into a global investment institution with assets worth 14 trillion won, achieving the highest net profit in its history last year.

On the 27th, the Korea Military Mutual Aid Association announced that Chairman Kim Yoo-geun and other key executives visited the site of the Gimhae Complex Sports and Leisure Facility Development Project the day before to conduct an on-site inspection and hold a meeting with stakeholders regarding future project promotion.

The Gimhae Complex Sports and Leisure Facility Development Project involves constructing residential and sports facilities such as housing complexes (excluding multi-family housing), golf courses, and sports fields (excluding soccer fields) on approximately 3.67 million square meters in Jinrye-myeon, Gimhae City.

When launched in 2005, it was expected to become Korea's first advanced sports and leisure high-tech city, but the project was delayed for a long time due to permits and approvals.

At the end of May 2019, the project began with a groundbreaking ceremony and land development work on a total site area of 982,440 square meters for the housing complex, and currently, civil engineering work for land development is 81% complete, nearing completion.

Accordingly, the site was visited to check the progress of construction and to accelerate the pace of land sales and golf course development in the future.

During the visit, Chairman Kim Yoo-geun and other officials received a report from Kim Tae-hoon, CEO of Lockin Gimhae Respo Town, on the construction progress, site location and conditions, and future plans.

In his report, Kim Tae-hoon stated, "We plan to complete the housing complex construction this year, and the feasibility study involving external professional institutions is currently in its final stages. We plan to begin full-scale land sales in February, followed by sequential development of the golf course and sports fields."

During the on-site discussion, Chairman Kim Yoo-geun said, "If the Gimhae Complex Sports and Leisure Facility Development Project is completed as planned, it will greatly contribute to the development of the western region of Gimhae. Although the project has been delayed for various reasons, the Association, along with Lockin Gimhae Respo Town and other stakeholders, will actively promote the project through close cooperation with shareholders such as Gimhae City and Korail Tech."

In the subsequent discussion, various opinions were raised regarding land sales, including the suggestion that the Korea Military Mutual Aid Association purchase some of the land to supply apartments for its members.

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