Hanyang "Gwangju Jungang Park Zone 1 Pre-sale Conversion Should Be Reconsidered from Scratch"

K&GS Steel Holds Press Conference
"Gwangju's Secretive Administration Undermines Public Interest of Project"
Calls for Formation of New Consultative Body with Citizen Participation

Hanyang proposed to reconsider the ‘Gwangju Central Park District 1 Private Park Special Project’ conversion to pre-sale from the starting point and to sign a new agreement.

On the same day, Hanyang held a joint press conference with K&GS Steel at the Gwangju Metropolitan City Council Citizen Communication Office and made this claim. They argued that regarding the conversion to pre-sale of this project, a consultative body consisting of Gwangju City, the project operators, and Gwangju citizens should be formed, and the agreement should be signed through transparent procedures such as data disclosure and holding citizen public hearings. They also requested that Hanyang’s ‘proposal for pre-sale without project plan changes’ be included as a criterion for social consensus.

On the 19th, Hanyang held a press conference titled "Proposal for Social Agreement to Convert Gwangju Central Park District 1 to Pre-sale" at the Citizen Communication Office of the Gwangju Metropolitan Council. From left: Kang Dong-wook, lawyer (representative of K&GS Steel), Park Sang-bae, CEO of K&GS Steel, Lee Jae-gyun, Executive Director of Hanyang Legal Team, Park Sung-bin, Executive Director of Hanyang. Photo by Hanyang

Hanyang holds the position that there are fairness issues in the project progress process. Hanyang explained, “Although it is a public interest project, Gwangju City is conducting ‘closed-door administration’ with the project operator Bitgoeul Central Park Development while excluding citizens, thus presenting principles regarding the subjects, criteria, and procedures of social consensus.”

According to Hanyang, Bitgoeul Central Park Development, which succeeded all rights and obligations of the Hanyang consortium, colluded with Woobin Industry and Lotte Construction to deliberately default on project loan payments and illegally transferred Woobin Industry’s shares to Lotte Construction, thereby distorting the consortium. Since the project’s public nature has been damaged and it has turned into a profit-making business for large corporations, it is unfair for Bitgoeul Central Park Development to act as the subject of social consensus for the conversion to pre-sale.

A Hanyang official stated, “If Gwangju City does not accept Hanyang’s proposal, we plan to file a lawsuit against Gwangju City and, separately, file a damages lawsuit worth several hundred billion won,” adding, “K&GS Steel will also pursue additional complaints and accusations regarding deceptive administration and various special favors.”