Daegu Urban Corporation Project, 200 Billion KRW Investment, Completion by 2030
Daegu City announced on the 10th that it is planning to create a world-class integrated resort tourism complex in Gunwi-gun in line with the opening of the Daegu-Gyeongbuk Integrated New Airport.
The integrated resort tourism complex planned by Daegu City will cover an area of approximately 2 million square meters and include leisure facilities such as golf courses for citizens to enjoy, hotels, resorts, luxury townhouses, and forest recreation facilities. The project scale is estimated at around 200 billion KRW (land acquisition and site development costs). It is planned to be developed as an international-scale tourism and recreation facility in preparation for the airport city alongside the new airport opening in 2030.
The project will be promoted as an urban development project under the Urban Development Act. The project implementation will involve selecting private participants through a public contest to ensure creative and efficient urban development. Then, a Special Purpose Company (SPC) will be formed together with public implementers such as Daegu City, Gunwi-gun, and Daegu Urban Development Corporation to proceed with the project.
A Daegu City official stated, “The exact location within Gunwi-gun where the integrated resort tourism complex will be established has not yet been specifically decided. We expect the specific site to be determined around next year.”
To ensure successful project implementation, Daegu Urban Development Corporation will first conduct a basic feasibility study covering optimal site selection, SPC formation methods, and demand analysis by land type.
The basic feasibility study is scheduled to begin in August this year. After undergoing a feasibility review by the Ministry of the Interior and Safety next year, the urban development zone will be designated in 2025, private participants selected in 2026, and the urban development project including training facilities is expected to be completed by 2030.
Additionally, the development profits from this project will be used to build a training facility for Daegu public officials. Through this, Daegu City will fulfill all commitments made in the joint agreement related to the construction of the Daegu-Gyeongbuk Integrated New Airport (July 2020). The agreement includes the creation of an airport new town, construction of a road passing through Gunwi-gun, and establishment of the Daegu public official training facility.
The establishment of the Daegu public official training facility is a promised measure to revitalize Gunwi-gun. It will serve as a facility responsible for the education and welfare of approximately 14,000 public officials from Daegu City and its districts and counties. It is expected that the construction of this facility will greatly benefit the local economy.
Hong Jun-pyo, Mayor of Daegu City, said, “This integrated resort complex project including the training facility will serve as an opportunity for Gunwi to leap forward as a new international tourism and recreation hub of Daegu alongside the opening of the integrated new airport. Going forward, Daegu City will do its utmost to become a world-class destination not only in the industrial and economic sectors but also in tourism and recreation.”
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