TAEHAN HILTON BUSINESS PLAN

Taeahn European Resort Business Plan

Located in Middle side of Korea, Chung-Nam province

(2018, Feb.)

Prepared by GOE Co., Ltd.

○ Annual  assumed tourists 21 million of hot place, new marine leisure place, Taeahn

○ Only one in Korea, marine national park in Mong-san Po

○ Good traffic network, only two hours to get from anywhere in homeland

○ Four season leisure place, located near 1 hour to take with 7.5 million population

○ Total leisure complex, located near within 2 hours with 25 million population  

○ Schedule to designate 852 rooms with various of theme parks

○ Medieval European style of architecture

Business overview

Site overviewSite overvie태

1. Site Description

Site overview

Taeahn European resort is located in Taeahn-gun, Chungcheongnam-do, surrounding west sea of Korea and famous tranquil beach with 13km long. Schedule to designate as a special planning area for Leisure/tourism corporate city of Korea. Under the government’s leading, it’s in development of 2,310ha along with Hyundai construction(Hyundai Golf CC, 108 hole) and Hanhwa Group (Hanhwa Golden Bay CC, 27 hole).  

태안읍내(5분 거리)

약 200m

IC
단지접근로(1㎞)

복합테마단지
태안리조트※ 준공과 동시  도시계획로 개통 쌍방향으로 진입(9m, 2차선)
종합관광휴양개발진흥지구

324
확포장공사중(4차선)

77

[해저터널 구간]

IC
단지접근로(3㎞)

체류휴양단지

[해저터널 개념도]

101

◎ 몽산포항/해수욕장(3분 거리)

◎ 태안리조트 출발기점

안면도(해저터널)→보령(대천해수욕장)

Extreme Theme Park

체험학습 테마파크

전통문화촌

숙박동

Media Culture Theme Park

영상문화 테마파크

게임존

Reports Theme Park

쇼핑/월드푸드코트

숙박동

전망대

체험학습 테마파크

약 150M

수영장

익스트림 테마파크

Experience Theme Park

1구역

레포츠 테마파크

3구역

해양레포츠 테마파크

Convention/Conference

해양레포츠 테마파크

Shopping Mall/World Food Court

워터파크(국내최대규모)

컨벤션 아트홀(동시수용 2,000명)

전통문화촌

골프장

쇼핑/세계음식테마

가족놀이동산

Eight Scenic Views of Taeahn

• Direct Ferry will be operated from Daesan Port to Longyan Port, China (in process)
• From Seoul/Incheon International Airport and Cheongju International Airport to Taeahn resort takes approx. 2 hours by car

Gangneung

Yantai

Seoul

Longyan Port

Chuncheon

330km / 5 hours by Ferry)

Daesan Port

Waypang

Cheongju

Pingdu

Daegu

Chingtgao

Resort site, Taeahn

Daejeon

Jeonju

Gwangju

Pusan

3

1. Accommodations: Hotel, Codo

CONDO

HOTEL

[체류휴양단지]

[개발 조감도]

Current pictures and bird’s-eye view of Taeahn European resort

1. Water Park, Amusement Facilities, Tenant area

1. Annual assumption of User

※ Statistical data of Korea Tourism Organization in 2013

구   분	내   용
Annual Tourists in Taeahn area (Pax)	28,680,567 Pax (Statistical Data of Korea Tourism Organization in 2013)
Accommodated Tourists Ratio (%)	57.3% (Statistical Data of Korea Tourism Organization in 2013)
Assumption of Tourists (Pax)	28,680,567X 57.3% = 16,433,965 Pax
Ratio of Condominium Usage (%)	18.5% (Statistical Data of Korea Tourism Organization in 2013)
Demand Assumption (Pax)	16,433,965 X 18.5% = 3,040,284 Pax
Number of Rooms(Condominium) in Taeahn Area (Rooms)	278 Rooms (Statistical Data of Taeahn County Office)
Ratio of Rooms in Stock vs. other Resorts in Taeahn Aarea (%)	75.6% (852 Rooms in European resort)
Annual Assumption of Accommodated Tourists	3,040,284 X 75.6% = 2,298,455Pax
Ratio of Expected Room Guests	25.0% (Statistical Data of Korea Tourism Organization in 2013)
Assumption Guests in Taeahn European Resort	2,298,455   / 25.0% = 9,193,820 Pax

1. Current Situation and Issue

• Current situation of public auction (2016)

Successful Bidder	price	Date	Total (Inc. taxes etc.)	Remarks
DF INTERNATIONAL, SD INTERNATIONAL(Subsidiary company of Soda group)	23,641,678,000 KRW	Oct. 2016	27,600,000,000 KRW	After 32 times of public auction

• Current Situation and Issues

Issue	Solution
Rate of Process	60% – Frame construction 79% in process Zone A1 – Zone A3 – Suspension of construction in Frame Construction  Zone  A2 – Construction work not yet started
Distribution approval :	Primary – 170 rooms (2009.3.22), Secondary – 391 rooms (2011.1.26)561 rooms were approved out of 852 rooms in total
Business right holder	DF INTERNATIONAL, SD INTERNATIONAL(Subsidiary company of Soda group), refer to Current situation of public auction (2016)
Purchase of additional premises	Access road/ additional site approx. 36,033m2
Lien	Fishery rights/Filming Set area for 5 billion KRW
Recompose New MD	It has been decade ago for MD arrangement. MD should be renewed according to current trend.
MOU	Executing an MOU with USDG in 2nd Feb. 2017:Acquire a loan for 1.5 billion USDInstitution of Hilton Vacation Club Program

1. Funds Planning

1. Appraisal Report – Summary

1. Appraisal report by Samchang Appraisal Co., Ltd. – After Completion of Construction

※ Currency in Korean Won

• Period of reference in 2011
• Total assessed value of 556,076 Mil. Korean Won

1. Appraisal report by Korea Appraisal CO., LTD. – Before Completion of Construction

※ Currency in Korean Won

• Period of reference in 2013
• Total assessed value of 147,326 Mil. Korean Won before completion of construction

1. Appraisal Report I – Samchang Appraisal Co., Ltd.

1. Appraisal Report I – Samchang Appraisal Co., Ltd.

1. Appraisal Report I – Samchang Appraisal Co., Ltd.

※ Appraised value conducted by Samchang Appraisal Co., Ltd. (2012) : 556 Bil. KRW

1. Appraisal Report II – Korea Appraisal Co., LTD.

Project link bellow: