The province’s capital verification committee has been dissolved without any clear conclusion on the (오라) Ora Tourism Complex development project.
Joseph Kim reports.

[slug] Provincial office
The province’s capital verification committee sat for its last meeting to discuss the (오라) Ora Tourism Complex development project.
The meeting lasted three hours and concluded without any solid outcomes.
The committee says that the financial condition and credit rating of JCC, the developer of the complex, and its biggest shareholder are sound.

[slug] Committee: Credit rating, financial position of developer are sound
But it adds that the developer didn't present plans to deal with the uncertainty caused by the trade dispute between China and the US and the Chinese government's overseas investment limitation policy.

[slug] Committee: Developer fails to provide plans to deal with uncertainty
Therefore, the committee says, it can't judge JCC's financing capability by reviewing data and documents submitted by the developer.

[slug] Committee: Can't judge JCC's financing capability


That means, the committee has reviewed the capital and financing plans, but hasn't concluded whether the developer is qualified or disqualified.
The capital verification committee organized in December 2017 wasted almost two years without making any clear conclusions.
The birth of the committee caused controversy.
Now, its output is disappointing.
The committee was created to verify if the trillions of won in capital JCC planned to put into the complex development is sound, reasonable and feasible.
But its activities are limited to reviewing submitted documents.

[slug] Committee’s limited activities perceived passive
The province will soon deliver the committee's opinion to the provincial council.

[Reporter] Joseph Kim
[Camera] Kim Seung-cheol


Then, the provincial council is expected to review the opinion next year after this year’s last regular session.

Joseph Kim, KCTV