Yeosu Expo venue to be reborn as a world-class maritime resort complex
- The 13th government assistance assessment council meeting held to discuss ways to utilize the Expo venue -
The government of the Republic of Korea on Wednesday, September 5, 2012, presided over by Prime Minister Kim Hwang-sik, held a government assistance assessment council meeting to decide upon ways to utilize the venue of the Yeosu Expo 2012.
The government, under the vision of creating a world-class tourism resort representing Northeast Asia in conjunction with the south sea sun belt in the Yeosu Expo venue and its surrounding areas,
Decided that in principle, the after-event utilization plans should be based on creative developments led by the private sector, but through continued government support, the spirit and legacy of the Yeosu Expo will be retained, reaffirming its will to carry out all these plans without a hitch.
For this goal, the government will retain and further develop the legacy of the Expo, utilizing such core Expo contents as the Big-O and Aquarium, along with permanent facilities, such as the Korea Pavilion and Expo Hall,
And in order to encourage active participations of the private sector, the government will designate the Expo venue as a special zone of maritime affairs, intending to provide incentives, such as tax breaks, reduction of development costs, and easing of selling conditions.
Further, in reflection of the needs of the region's residents, a non-profit foundation under the special law for the Yeosu Expo will be created as an organization that is to be in charge of utilizing the Expo venue.
Also, the government resolved to carry out such activities as follows without a hitch: management of land and facilities, commemoration activities of the Yeosu Expo, management of and support for the Yeosu Project that is Korea's promise to the international community.
The main contents of the meeting that were confirmed today are as follows:
① Development methods
Except for such facilities as the Korea Pavilion and Expo Hall that are utilized for public purposes, the majority of the facilities in the venue including theme pavilions, will be categorically sold to the private sector within two years, provided when such a categorical selling would be difficult, the concerned land will be divided into different sections to be sold separately.
The Expo venue will be from now on categorized into three different groups: the multipurpose contents area (the Big-O vicinity area), marina area (the MVL Hotel vicinity area), and entertainment area (the corporation pavilions vicinity area); and will be developed gradually till the year 2021.
② Organizations to be in charge of this utilization
The organization to be put in charge of such utilization plans will be formed within this year as a non-profit foundation type and, unless the Yeosu Expo Act will not be amended within this year, it will be launched first as a non-profit organization pursuant to the civil law.
③ Strengthening of the public functions of the Expo and retaining of the Expo spirit
The government decided to use a part of the Korea Pavilion to create commemoratory areas for the Yeosu Expo using documents of records of the Expo, core exhibition items, and donated items by participating countries. It also decided that the contents in the Ocean Best Pavilion which is located in the theme pavilion will be moved to a venue on which an Ocean Science Pavilion will be built.
Further, using the convention functions of the Korea Pavilion and Expo Hall, relevant international conferences to such topics as climate change and Yeosu Declaration will be held continuously.
④ Pursing the Yeosu Project
In accordance with the Yeosu Declaration, the government decided to pursue without a hitch, the activities under the Yeosu Project for the purpose of supporting developing countries by helping them respond to marine environment problems.
As the Yeosu Project is Korea's promise to the international community, the Korean government is determined to push it forward, and under this resolve, the government will secure financial resources through contributions to international organizations, donations from the private sector, and profits from public projects, and it also decided to do so in conjunction with its ODA projects.
Minister of Land, Transport and Maritime Affairs Kwon, Do-Youp commented, "The Expo is not a one-time event maintained for three months; it was designed as an event that would make it possible for us to utilize it after the actual duration of the exhibitions for the purpose of promoting balanced development of the concerned region, which is also a barometer for the very success of the Expo," and added that the Korean government is determined to pursue further utilization of the Expo focusing on creation of an environment where the private sector's creativity can be maximized, in addition to effectively promoting the legacy of the Expo.
Going forward, the MLTM, and the Yeosu Expo organizing committee will select a private project operator by the end of this year based on transparent and just procedures, and in the second half of next year, centered on such facilities as the Korea Pavilion and Big-O facilities, will reopen the Expo venue to the public