Namhae-gun Signs Investment Agreement Worth 250.5 Billion KRW... Expected Boost in Tourism Accommodation Infrastructure

Nam-myeon Pyeongsan-ri Small-scale Tourism Complex Development Project

Namhae-gun, Gyeongnam Province, has succeeded in attracting private investment worth 250.5 billion KRW.

On the 12th, Namhae-gun signed an investment agreement with Gyeongsangnam-do and Shinwon Comprehensive Development at the ‘Investment Agreement Ceremony for the Advancement of Gyeongnam’s Key Industries and the Cultivation of Future Cutting-edge Industries with a Super-gap’ held in the Gyeongnam Provincial Government meeting room for the ‘Nam-myeon Pyeongsan-ri Small-scale Tourism Complex Development Project.’

Namhae-gun attracts investment worth 250.5 billion KRW.

The ‘Nam-myeon Pyeongsan-ri Small-scale Tourism Complex Development Project’ is a customized tourism infrastructure construction project utilizing the newly revised ‘Small-scale Tourism Complex’ system under the Tourism Promotion Act, which will be implemented starting this April. The ‘Small-scale Tourism Complex’ system is designed to revitalize the tourism industry and expand the actual resident population in areas experiencing population decline.

Shinwon Comprehensive Development plans to invest 250.5 billion KRW in an 81,772㎡ site in Nam-myeon, Pyeongsan-ri, Namhae-gun, and build a 70-room global high-end brand resort and public convenience facilities by 2028.

Established in 1983, Shinwon Comprehensive Development is a mid-sized company listed on the KOSDAQ market, primarily engaged in the construction of apartments, villas, and public/office facilities, with apartment brands such as ‘Achimdosi’ and luxury housing brand ‘Upper House.’

Namhae-gun plans to diversify future tourism industry infrastructure amid the government’s sound fiscal policy by attracting large-scale private investment, aiming to promote regional economic development through tourism activation, including an increase in tourists and resident population.

Last year, Namhae-gun fully revised the ‘Namhae-gun Ordinance on Enterprises and Investment Attraction,’ improving conditions for corporate investment and increasing the possibility of attracting large-scale private capital.

Governor Jang Chung-nam stated, “We welcome the large-scale capital investment by private companies ahead of the opening of the Namhae-Yeosu Undersea Tunnel. We hope the project plan proceeds smoothly and creates synergy with our existing tourism resources.”