Liberty Korea Post has learned that the tourism project in the Wonsan-Galma area has taken a turn for the worse because of the damage suffered during the monsoon season.
Wonsan, North Korea
According to the informant, a North Korean trading company president who is in China for business, Kim Jong-un has a special interest in the tourism project. Committee for Economic Development for Special District and Investment has prepared a plan favoring Chinese investors and received Kim Jong-un's approval.
The favorable condition for Chinese investors involves transferring a portion of the operational rights of the foreigner's hotel to the Chinese side for 20 to 30 years.
According to the informant, the Chinese government has permitted individuals to invest, and these investors participated in the negotiations.
North Korean officials and the Chinese investors agreed to postpone the construction completion date from the original April 15 to October 10.
The problem arose with the Chinese investors. They wanted to step back and made an official request for a briefing to revisit the progress and construction plans because of the enormous damages caused by the heavy rain.
The Chinese embassy replied to the investor group's request and inspected the construction site with the North Korean committee members.
The casino, foreigner's hotel, and tall buildings with basement levels suffered the most damage. Especially, the underground parking, health facilities, restaurants, and cafes were destroyed.
Kim Jong-un reviewed the situation and criticized the original design. He made the National Affairs Design Department responsible for the new design.
Meanwhile, a local construction worker informed Liberty Korea Post that a storm in early August caused a landslide and upended a power pole severing the power supply to the construction site.
Fifty thousand troops have been dispatched to the site to help with the clean-up operation, but it is slow going.