Boryeong Wonsando Daemyung Sono Resort Development Project Faces Crisis

Official Letter to Boryeong City: "Comprehensive Review of Project Direction Needed"
Chungnam Province: "Will Decide After Reviewing Next Year's Project Plan"

The Wonsando Daemyung Sono Resort tourism complex development project, which is being promoted by Boryeong City in South Chungcheong Province, is now at risk of being derailed.

According to an Asia Economy report on the 6th, Sono International Co., Ltd. signed an MOU with Boryeong City in 2015 to invest 760.4 billion KRW by 2029 in developing the Wonsando Daemyung Sono Resort tourism complex on a 966,748 square meter site in Wonsando. The project includes the construction of hotels, resorts, pension complexes, sports facilities, and other tourism accommodation and leisure facilities.

In November 2022, South Chungcheong Province approved the designation and development plan for the tourism complex to facilitate the project.

Boryeong City expected that this project would revitalize the stagnating local tourism industry and help nearby islands develop into the central hub of marine tourism on the mid-western coast.

However, it is known that in August, Sono International sent an official letter to Boryeong City regarding the Wonsando Daemyung Sono Resort project, stating, "Please understand the difficulties in pushing forward with the project due to internal and external circumstances," and "Due to the economic downturn, rising construction and labor costs, and other indirect expenses, a comprehensive review and revision of the project's direction is inevitable."

If the Wonsando Daemyung Sono Resort project faces setbacks, there are concerns that it will also affect other projects such as the creation of a marine leisure hub, tourism resource development, and tourism infrastructure establishment on five islands, for which a total of 1.1254 trillion KRW has been earmarked.

A city official stated, "As a private project, the basic design is complete, and we are in the stage before applying for changes in design and development plans," adding, "The approval authority lies with South Chungcheong Province, so I understand that next year's project plan will be submitted to the province. We plan to check next year's schedule after reviewing the submitted documents."

A provincial official said, "We had a preliminary meeting with Sono International, and they still have the intention to continue the project," adding, "It is not that the project is being scrapped, but that the design is being delayed."

The official continued, "We have asked Sono International to submit the project status and next year's project plan by the 15th. We will review the documents once they are submitted and make a decision based on that."

A Sono International representative stated, "We are currently in the stage of re-evaluating the project, and nothing has been decided yet."

Meanwhile, the Tourism Promotion Act stipulates that if a project does not begin within two years from the date of approval and announcement of the development plan, its validity will lapse. Accordingly, on October 25, Sono International applied to South Chungcheong Province for an extension of the Wonsando Daemyung Sono Resort project.