Tourism Corporation Completes Private Sales of Naejangsan Resort Tourist Site... Management Duties Transferred

Aerial view of Naejangsan Resort Tourist Area.

[Asia Economy Reporter Donghyun Choi] The Korea Tourism Organization announced on the 17th that it has recently completed the private sale of the Naejangsan Resort Tourist Site, which it has managed since 2003.

Naejangsan Resort Tourist Site is a tourist destination developed on a total area of 1.11 million square meters through a tourism development agreement between the Tourism Organization and Jeongeup City in 2003 to revitalize the local economy. With the completion of the private sale, the Tourism Organization has met the transfer conditions of the "Agreement on Promoting Land Sales of Naejangsan Resort Tourist Site, Donation and Acceptance of Public Facility Sites (Facilities), and Transfer of Management Duties," signed in July last year. Accordingly, the transfer of land and complex management duties was also completed as of December 31 of last year.

The Tourism Organization began selling land for inns, pensions, and commercial sites starting with the completion of infrastructure construction in 2014 and the sale of golf course land the following year. Last year, through active attraction efforts such as four sales announcements and improvements in investment systems, it succeeded in selling about 75,000 square meters of land. In particular, by selling the last remaining land (32,779 square meters) to JB Financial Group in December last year, it achieved 100% sale of the entire 1.11 million square meters.

Naejangsan Resort Tourist Site boasts beautiful scenery surrounded by Naejangsan National Park and Yongsan Reservoir. The Daeil Naejangsan Country Club, which has been operating an 18-hole golf course since 2019, is additionally planning to build a tourist hotel with about 70 rooms across four floors. On the condo site purchased by JB Financial Group in 2019, construction of an integrated training center with seven floors and 109 rooms is underway. Since September last year, a 19-room pool villa operated by Allistay has gained great popularity among the MZ generation (Millennials + Generation Z) through social networking services (SNS), thanks to its unique architecture and scenic views.

Kim Seok, Director of Regional Tourism at the Korea Tourism Organization, emphasized, "It is significant as the first tourist site successfully developed through active investment attraction and win-win cooperation between the Tourism Organization and local governments."