Governor Kim Taeheum: "Anmyeondo Tourist Site Project to Begin Construction During My Term with New Plan"

Business Plan for Zones 3 and 4 to Be Revised and Implemented... Zone 4 Golf Course to Be Prioritized

Chungnam Province is launching a new initiative to develop the Anmyeondo Tourist Site, a project that has been stalled for over 30 years.

Governor Kim Tae-heum held a press conference at the provincial government office on the 29th, stating, "The Anmyeondo Tourist Site was first designated as a tourist area in 1991, but investment attraction has failed seven times over the past 34 years. We will ensure that construction begins within my term through a new development plan."

In 2022, during the seventh popularly elected administration, the province signed an agreement with the Onthewest Consortium to develop the Anmyeondo Tourist Site. However, due to the downturn in the construction market, the consortium has been unable to pay the investment performance guarantee deposit.

As a result, the province has decided to revise and newly pursue the business plan for Districts 3 and 4 of the Anmyeondo Tourist Site.

District 3 will be developed according to the original plan, including a hotel, condominium, observatory, and art museum. District 4 will feature a golf course where an ocean view can be enjoyed from all 18 holes.

Considering the scale of the project, District 4 will be prioritized, with a total project cost of 800 billion KRW.

The province plans to raise the 800 billion KRW through a special purpose company, a regional revitalization investment fund, and financial institution PF loans.

The province aims to sign an MOU this November with the Chungnam Provincial Council, Taean County, Chungnam Development Corporation, Onthewest Co., Hana Financial Group, and Chosun Hotel & Resort Co., among others, to officially launch the project.

Governor Kim emphasized, "We will secure the project budget, including changes to the development plan and permits and the application of the regional revitalization investment fund, by the first half of 2025, laying the foundation for the province's tourism industry."

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