Meritz Securities, Hyundai Motor Securities, Woori Asset Trust, and J&J Partners Selected
310 Billion KRW Invested to Develop 500-Unit Condominium and Water Park
On the 27th, Nonsan City in Chungnam announced that it has selected △Meritz Securities Co., Ltd. △Hyundai Motor Securities Co., Ltd. △Woori Asset Trust Co., Ltd. △J&J Partners as the preferred negotiation candidates for the private investment project, ‘Tapjeongho Complex Cultural Resort (Resort Development) Project.’
The Tapjeongho Complex Cultural Resort Project involves an investment of 310 billion KRW to develop a 500-room condominium, a water park spanning approximately 11,000 pyeong?the largest in the central region?a convention center of about 2,200 pyeong, and spaces for youth startups.
Although Tapjeongho was designated as a forest protection area, which was expected to pose significant obstacles to project advancement, Mayor Baek Seong-hyun visited the Korea Forest Service in August 2022 and succeeded in lifting the forest protection designation, opening the way for the project to proceed in earnest.
Until now, the lack of comprehensive tourism infrastructure such as lodging facilities and restaurants has been pointed out as a problem in the development of Tapjeongho.
The city plans to finalize detailed projects through negotiations with private investors and form a task force (TF) for the Tapjeongho Complex Cultural Resort Project to swiftly advance the project through MOU signing.
Mayor Baek Seong-hyun said, “It has always been regrettable that Tapjeongho, a pride of Nonsan, has been restricted from development activities since 2003, preventing any development for over 20 years. Now that the first step of this long-awaited project in Nonsan has been difficult but successfully taken, we will do our best to help Tapjeongho leap forward as the premier tourism hub in the central region.”
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