Jeju Special Self-Governing Province announced that Kolon Global Co. has been selected as the final bidder for the Seogwipo Cruise Terminal and Coastal Park development.

The project on Jeju’s south coast will improve facilities for cruise tourists arriving on Jeju through the Jeju Civilian-Military Complex Port at Gangjeong. Kolon was favourably evaluated for its technological know-how and competitive price.

The bidding cost was 36.7 billion won. Four local businesses account for 53.94 percent of the consortium, the highest among large government construction projects.

The development will include a three-story cruise terminal and a coastal park, access road and infrastructure over a 6457.29 square-meter site.