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Gwangju finalizes the agreement with the Mt. Eodeung contractor.

광주 어등산 관광단지 조성, 14년 만에 본궤도

Gwangju finalizes the agreement with the Mt. Eodeung contractor.

 

The Eodeung Mountain development project is finally  on track after 14 years of delays as the City of Gwangju and the project contractor will conclude the business agreement by this week.

 

According to the City yesterday, Seo Jin Construction, the preferentially contracted company of the construction plan, and the City finalized the negotiations including the performance bond and compliance of the agreement regulations.

 

The City and the company were expected to finish signing the last contract by today. The process was delayed, however the construction company is currently proceeding with the payment guarantee consultation with Gwangju Bank and the cost is valued at 48 billion won which is around 10% of the total business expenses, 560 billion won.

 

The City remarked that there are no issues with the guarantee progress therefore the two partners will successfully sign the contract for the continuation of the project with no problem.

 

As soon as the final agreement is made, the redevelopment plan will launch to begin construction in January 2021, to end it by December 2024.


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