800 billion won in private investment for Dosan district, 140 billion won for Donam district; 100 billion won in public funds to build marine leisure infrastructure

A bird's-eye rendering of the Dosan district within the planned Tongyeong marine leisure tourism complex. [South Gyeongsang Province]
A bird's-eye rendering of the Dosan district within the planned Tongyeong marine leisure tourism complex. [South Gyeongsang Province]

A project to build a large-scale marine leisure tourism complex in Tongyeong, backed by a combined 940 billion won (approximately $608 million) in private investment from Hanwha and Kumho, is moving into high gear.

South Gyeongsang Province held its third governance committee meeting Tuesday afternoon at the Four Points by Sheraton Josun in Seoul, bringing together some 40 participants — including public, private and academic experts and local residents' representatives from Tongyeong — to review private investment plans and public infrastructure development for the project, which carries a total budget of 1.14 trillion won.

The project aims to transform the Donam-dong and Dosan-myeon areas of Tongyeong into a global marine tourism hub featuring yacht facilities, accommodations and leisure amenities. It was selected in July 2025 through a competitive grant program run by the Ministry of Oceans and Fisheries, and formally got underway in January when work began on a master plan.

According to the conceptual framework unveiled Tuesday, the private investment component will be led by Hanwha Hotel and Kumho Resort. Hanwha plans to invest 800 billion won in the Dosan district, while Kumho will put 140 billion won into the Donam district. South Gyeongsang Province and Tongyeong city have signed agreements with both companies and are proceeding with investment procedures.

Public fiscal spending has been set at roughly 100 billion won in total. The province plans to allocate those funds across both the Dosan and Donam districts to build core public marine leisure infrastructure.

Provincial authorities are currently reviewing the project's feasibility and profitability, refining the master plan around economically viable components and adjusting the scope of some facilities.

Specific proposals and requests from local residents were also on the agenda. Tongyeong residents attending as members of the civilian governance body expressed hope that large-scale private investment would move quickly and inject new energy into the local economy.

Particularly notable were the contributions of Yu Sam-jong, the village chief of Haehyang-ri in Dosan-myeon, and other residents' representatives who joined the committee for the first time. They urged the province to pair the tourism development with improvements to the deteriorating environment in surrounding villages. The province and Tongyeong city said they will incorporate expert opinions and discussion outcomes from the meeting as they continue to refine the master plan.

"Through this third governance meeting, we have gathered wide-ranging input from experts and residents across all sectors," said Kim Sang-won, director of the South Gyeongsang Province Tourism Development Bureau. "We will draw up a master plan of the highest quality, one with genuine global competitiveness."


ook967@heraldcorp.com