Oh Young-hoon "Jeju Kal Hotel, Will Prepare Public Purchase Plan"

Official Announcement of Purchase on the 18th... Exploring Measures to Protect Workers' Livelihoods
Negotiations with Hanjin Group... Towards a New Landmark for Residents

[Asia Economy Reporter Oh Ju-yeon] On the 18th, Oh Young-hoon, a member of the Democratic Party of Korea who announced his candidacy for Jeju Governor in the June 1 local elections, stated, "We will prepare a plan for the public acquisition of the 48-year-old Jeju Kal Hotel, which is currently being considered for sale, by Jeju Province."

[Image source=Yonhap News]

In a press release on the same day, Rep. Oh said, "We will also seek various measures to protect the livelihood rights of the workers."

After reviewing the appeals made through the media by senior figures and key personalities in the province, Rep. Oh officially announced his stance on promoting public acquisition.

He said, "Jeju Kal Hotel, completed in 1974, is the tallest landmark in the original downtown area of Jeju City and holds symbolic significance as it has been part of half a century of Jeju tourism history. Since it is a modern building with great meaning to the residents, we will consider a plan for public acquisition at the provincial level."

He continued, "First, to acquire Kal Hotel, we will comprehensively review all possible methods including Jeju Province, public enterprises, and resident participation, and pursue the most reasonable plan. We will negotiate with Hanjin Group and gather wisdom to transform it into a new landmark for the residents," he emphasized.

He also added, "The sale price of Jeju Kal Hotel is about 68.7 billion won, and if Jeju Province acquires it publicly, we will also be able to find solutions to the livelihood issues of the workers."

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