Che-ju Island: Korea`s Own "Hong-kong"

By the year 2010, Che-ju island is poised to become an international tourism metropolis much like Hong-kong and Singapore.

The Ministry of Construction and Transportation has consulted with "Jones, Lang, and LaSalle", a consultation firm in the United States concerning feasibility study in order to transform Che-ju island into a tourist destination in the Far East. The consultation has led to a report on the 9th which suggested a development of international tourist industry, human resource training, and other first phase developments.

The Ministry will carry out the suggestions made in the report through establishing a first-phase proposal at the end of the year. The proposal will be submitted to the various governmental departments related to such task, then placed in the hands of the lawmakers for budget approval and amendments.

The proposal plans to put into action, "the catalyst project" which could propel Che-ju toward a full-fledged international tourist destination, through construction of hotels and duty-free shopping centers near the Suh-gui Airport. The proposal also outlines a construction of world-class aquarium and amusement park as well as an industrial park. Also, near the Che-ju University, the construction of biotechnology and agriculture research centers will be built alongside international language and hotel management schools. The proposal further outlines the construction of duty-free shops, the refrigerated storage facility, and the agricultural processing facility to raise the level of service at the Che-ju Airport. Finally, the construction of exclusive coastal condominiums in Suh-gui-po district is under the plan to accommodate the retirees who have amassed a considerable nest egg.

For the successful transformation of Che-ju as a world-class tourist destination spot, the proposal projects a budget of about 3 trillion won from the public fund and 1.439 trillion from the private sector. The Ministry has further suggested that a committee for the development of Che-ju Island be put in place to oversee the work and budget necessary for the project.

Yeonsoo Shin ysshin@donga.com