Approval of Trademark Transfer Settlement for Geochang International Theater Festival in Geochang County

Approval of 800 Million Won Out of 1 Billion Won Settlement for Geochang County Council Relocation, 200 Million Won Cut

Geochang County Office Building Exterior (Photo by Geochang County)

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam announced on the 26th that at the 254th Geochang-gun Council extraordinary session, as a result of reviewing the first supplementary budget related to the transfer of the trademark rights of the Geochang International Theater Festival, only 800 million KRW out of the 1 billion KRW agreed transfer fee was approved, and 200 million KRW was cut.

This follows the agreement signed on December 4 last year between the county and the Geochang International Theater Festival Executive Committee (hereafter Executive Committee) to transfer the theater festival trademark rights, which had been the subject of disputes, for 1 billion KRW, with the transfer fee to be paid by the 31st, opening the way for the festival to be held normally from this year.

The Geochang International Theater Festival, a representative festival of Geochang-gun with a history of over 30 years, had caused local conflicts for several years due to lack of transparency in budget execution, internal disputes within the organization, and audits, which saddened the residents.

To resolve this conflict, Governor Goo In-mo selected "Normalization of the Geochang International Theater Festival" as a campaign pledge during his candidacy, and aimed to resolve it through a trademark rights transfer sales contract as the final solution. However, due to a significant difference in appraised value, legal battles ensued, and no breakthrough was made for over two years.

Accordingly, after the first trial court ruling in November last year ordering payment of about 1.7 billion KRW, the county gathered many opinions from the county council, media, civic groups, and residents regarding future response measures.

At this point, it was judged that holding the international theater festival normally in 2021 was practical, and after several negotiations with the Executive Committee, an agreement was signed for 1 billion KRW.

Governor Goo In-mo of Geochang-gun stated, "We confirmed that there is no disagreement regarding the fact that all residents wish for the normalization of the Geochang International Theater Festival out of love for the region," and added, "Although only part of the budget was approved in this first supplementary budget, it will be a starting point to overcome past conflicts and enable the Geochang International Theater Festival to take a second leap forward. We will strive to make the festival a world-class summer festival."

Meanwhile, the county plans to hold a Promotion Council for the Normalization of the Theater Festival, involving various sectors, to discuss operational plans and gather opinions, and will work to reopen the festival long desired by residents by developing high-quality performance programs that align with Geochang’s identity.