BUSAN < invest Korea

According to Yonhap News,

Bird’s-eye view of Butterfly Eco Park in Gijang-gun, Busan

Gijang-gun will sign an agreement with a private operator to conduct a private investment project. Butterfly Eco Park will be built on the area of 189,000㎡ in Dongbaek-ri, Ikgwang-myeon, Gijang-gun with the investment of KRW 97.6 billion by 2011.

Gijang-gun (County Governor Oh Gyu-seok), Busan said on March 27th that it would provide full support in building Butterfly Eco Park, the largest safari-type theme park in Korea.

Gijang-gun and Butterfly Land Busan (CEO Kim Man-bong), a private operator, had a meeting recently to agree that the public and private would attract investors together. Gijang-gun formed ‘Committee to Construct Butterfly Eco Park’ to conduct support activities in earnest.

Butterfly Eco Park will be created in Dongbaek-ri, Ilgwang-myeon, Gijang-gun as a safari-type exhibition where visitors can watch thousands of live butterflies. The Park will be created as a build-transfer-operate project wherein Butterfly Land Busan invests KRW 97.5 billion, holds the right to operate the park for thirty years, and transfer it to the public.

Gijang-gun and Butterfly Land Busan signed an agreement for the project in January 2009. However, the project was actually halted since agreements regarding project financing were not signed because of continued economic slowdown.

County Governor Oh said “Butterfly Eco Park will be linked with World Cup Village which is currently under construction nearby the Park to become a four-season general leisure tourist attraction,” and added “we will provide full administrative support for the successful project and do our utmost to draw investment from large companies.”

Source Text

Source: Yonhap News (March 27, 2011)

**This is an English translation of a Korean news article.