Gangwon-do and UK Merlin, "Management Innovation Needed for Legoland GJC"... Collaboration on Hajungdo Development

Governor Kim, "Must Eliminate Various Issues, Remaining Doubts, and Distrust in GJC"
John Jacobson, "Requests Administrative Support and Cooperation from Gangwon Province for Phase 2 Investment"

Governor Kim Jin-tae of Gangwon Province and John Jacobson, General Manager of Legoland, had their first meeting at the Gangwon Provincial Office on the 21st. [Gangwon Province]

[Asia Economy Reporter La Youngcheol] Jin-tae Kim, Governor of Gangwon Province, and John Jakobsen, CEO of Merlin Entertainment Legoland Resort Group, the operator of Legoland, had their first meeting at the Gangwon Provincial Office on the 21st.

This meeting was arranged at Merlin's request, and both parties agreed on the need for overall management innovation for Gangwon Jungdo Development Corporation (GJC), which is responsible for the Legoland infrastructure development, and decided to cooperate on the Hajungdo tourist site development project.

In particular, they clarified that the recent turmoil in the bond market triggered by GJC's filing for rehabilitation has no relation to Legoland Korea's financial soundness, and discussed various measures to resolve the pending issues surrounding Legoland.

Governor Kim Jin-tae emphasized, "We must eliminate the suspicions and distrust left among the public and local residents due to various problems that arose during the development projects promoted by Gangwon Jungdo Development Corporation."

He added, "Gangwon Province is reviewing various measures to normalize the Hajungdo tourist site development project and minimize the burden on local residents."

CEO John Jakobsen said, "Merlin also sympathizes with Gangwon Province's efforts and will actively work together with Gangwon Province," promising to seek active measures with Gangwon Province to contribute to the local economy as a global brand.

He then requested administrative support and cooperation from Gangwon Province to smoothly proceed with Merlin's second-phase investment plan.

However, it is known that unfair and toxic clauses, including the 100-year free lease of the site (50 years lease, 50 years extension) and exclusive rights to children's play facilities within Gangwon Province, were not discussed.

At the meeting between Governor Kim Jin-tae and CEO John Jakobsen, Deputy Governor of Economy Jeong Gwang-yeol and Legoland Korea President Lee Soon-gyu were also present.