Changwon tour tower company

Construct a new paradigm of cultural content for the future creation of a unified Changwon.

We are making a new paradigm of culture.

Changwon Tour Tower Co. was founded in April, 2013, to construct Sky Island tower and 6 auxiliary buildings, a cable car over the sea, a floating swimming pool, shopping malls, a medical center, schools & outdoor stages. The project will form so-called ‘tourism belt of the southern coast’, connecting Busan, Kimhae, Changwon, TongYoung and Geoje.

Overview

The proejct includes constructing Sky Island tower (655 m), a cable car over the sea (the total length: a 4 km-round trip), an outdoor stage (10,000 seats), a floating swimming pool, ocean cruises and aquarium, ocean
leisure sports, hotels, condominiums, a silver town, a medical center, international schools, casino and related facilities.

Timeline

The construction is starting in summer, 2016 and will be completed in 2020 (48 months approximately).

The site will be developed by Changwon City, and currently the development is in progress

Aims

The Sky Island tower, the highest in the world, will be a new landmark of Changwon City, contributing to enhancing popularity of Chanwon City.

The project aims to boost the local economy by attracting tourists from Korea, China, Japan and Southeast asian countries.

Site

The site is an artificially-made island (640,000 m2),near the Machang bridge. 26m2 and 23m2 are assigned for the ocean park and the tower, respectiviely, and 15m2 will be developed for other related facilities and will be sold to public.

The current state (Sep., 30,2015)

The site master plan was confirmed

The site use plan was accepted by the review committee

The flight route was accepted by the review committee

The site was desginated as a Changwon City special district.

Letters of intent are being collected. (currently, over 1.4 billion USD is raised.)

If a foreigner invests more than 800,000 USD for buying condominiums (181 m2) with F-2 visa and he/she maintains the investment for 5 years,
he/she will obtain legal residence of South Korea according to the immigration law.

Organization chart

A holding company (Changwon Tour Tower Co.) and 16 subsidiary companies will be founded and they will be run under the operational and managerial governance that each company is responsible for its individual performance

Expected effects

Sky Island tower will be a new landmark, improving the image of Changwon City.
The construction will recruit more than 6,000,000 people for 4 years and after the construction completes,
more than 10,000 job positions would be created and the economic ripple effect would be more than 4.5 billion USD every year.
By attracting tourists from Japan, China, Southeast asian countries as well as Korea, the tourist business will be a fresh blood for Changwon City.