Licensing Near Completion... 87.5% of Land Acquisition Achieved
Gwangyang City in Jeollanam-do is accelerating the final preparations for the full-scale launch of the 'Gwangyang Gubongsan Tourism Complex Development Project,' which is set to become the region's first tourism complex and a key hub of the southern coastal tourism belt.
The city plans to complete the tourism complex's licensing procedures this year and finish as much of the land acquisition as possible to achieve visible results in the development project.
The 'Gwangyang Gubongsan Tourism Complex Development Project' is a large-scale private investment project that will invest 370 billion KRW into a 2,324,486 square meter site in Hwanggeum-dong, Gwangyang City (San 107), to create a multi-purpose resort and tourism complex by 2029. The project includes 230 resort rooms, a 27-hole golf course, and various tourism experience facilities.
Pursuant to the Tourism Promotion Act, the Gwangyang Gubongsan Tourism Complex began as a regional cooperation project following the opening of 'LF Square Gwangyang Branch' in 2017. The project gained momentum in 2019 when local corporation LF Resort Co., Ltd. was established and submitted a business proposal for the tourism complex.
In November 2020, Jeollanam-do, Gwangyang City, and private investors signed an investment agreement, and in March 2022, the complex was included as a new tourism complex in the 7th Jeollanam-do Tourism Development Plan.
Gwangyang City and LF Resort Co., Ltd. are simultaneously pursuing the 'designation of the tourism complex and approval of the development plan' to shorten the licensing period. After submitting an application to Jeollanam-do in June 2023, they completed consultations with the Yeongsangang River Basin Environmental Office regarding the environmental impact assessment. In 2024, they sequentially completed the traffic impact assessment, disaster impact assessment, preliminary consultation with the Ministry of Culture, Sports and Tourism, and landscape review, and also undertook the 'urban management plan decision (change)' procedure to change the land use zoning of the project site.
Notably, in December last year, the economic ministers' meeting reduced the mountain area consultation procedure for tourism complexes from three stages to two, shortening the consultation period by about six months. Currently, the urban management plan change procedure is underway and is expected to be finalized and announced in February.
After the announcement of the urban management plan decision (change), Gwangyang City and LF Resort Co., Ltd. plan to apply to the Korea Forest Service for a change in the status of conservation forest land (from public interest forest to forestry-use forest), and then proceed with the 'designation of mountain area and consultation for mountain area conversion.'
Of the total area of the Gubongsan Tourism Complex (2,324,486 square meters), private land accounts for 97.43% (2,264,739 square meters), while the remaining 2.57% (59,747 square meters) is state or public land.
To facilitate large-scale land acquisition, the city signed an administrative support agreement with LF Resort Co., Ltd. in August 2019 and has operated a dedicated office at the Golyak-dong Community Center. As a result, the land acquisition rate for private land now stands at 87.5%. However, acquisition of the remaining 12.5% is facing difficulties, with negotiations for 10% delayed due to dissatisfaction with compensation amounts.
Landowners who purchased land through real estate agencies during the development of Gwangyang Steelworks and Gwangyang Port in the 1980s are protesting that past purchase prices are higher than current market values, and are demanding compensation equivalent to nearby residential district levels, fueled by expectations of conservation forest land being released.
Some local residents are requesting exclusion of their land from the project area or are obstructing project progress by filing building commencement notifications. Additionally, acquisition of 2.5% of the land is delayed due to reasons such as capital gains tax burdens, seizure or mortgage registration, emigration, and unregistered land.
Gwangyang City and LF Resort Co., Ltd. plan to increase the land acquisition rate by forming regional negotiation teams to increase the number of consultations, and by closely analyzing unresolved cases for each parcel to respond to the Central Land Expropriation Committee's public interest consultations.
Gwangyang City expects that the completion of the Gubongsan Tourism Complex will not only create jobs and increase tax revenue, but also attract more residents. In connection with the 'Gubongsan Experience Sculpture' scheduled for completion in early 2026, the 'Gubongsan Cable Car' and 'Golden Bridge 770, the world's longest suspension bridge,' both in the planning stages, and the 'Family-type Children's Theme Park,' which has already begun construction, the complex is expected to become the centerpiece of Gwangyang tourism.
Kim Miran, head of Gwangyang City's Tourism Division, said, "The Gubongsan Tourism Complex is a project that will dramatically transform the tourism infrastructure of Gwangyang. We will swiftly complete the remaining licensing procedures and expedite land acquisition to create the best possible tourism complex that will satisfy both local residents and tourists."
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