Aqua Garden Café construction continues even after opening (2026-06-05)

[최종근]

Yeosu Aqua Garden Cafe, a 47 billion won project—construction continues even a year after project approval, with annual interest alone totaling 2.5 billion won (2026-06-05)

Yoo Kwang-hyeon, Chairman of Hanju Group, is planning to construct an Aqua Garden and SeenB Zoo Cafe with a total floor area of 6,463 square meters (approx. 1,949 pyeong) on the site of the former drive-in theater owned by The Ocean Resort (address: 928 Sohodong, Yeosu-shi, Jeollanam-do; 10,686 square meters [approx. 3,235 pyeong]). with one basement level and three above-ground floors.

This is roughly the same scale as “Magnolia Meotjip” in Gapyeong.

◆ Construction contract signed six months before building permit issuance

According to the building registry for The Ocean Aqua Garden in Yeosu, the building permit was obtained on January 8, 2024, construction began on January 26 of the same year, and the use approval was granted on May 7, 2025.

The fact that a construction contract was signed on July 20, 2023—six months prior to obtaining the building permit—with EXA E&C Co., Ltd. (EXA E&C), a company primarily engaged in interior and partition work, indicates that the project proceeded after a considerable period of preparation.

According to the details of the single sales and supply contract announced by EXA E&C Co., Ltd. on October 30, 2024, the construction work began on December 19, 2023, and was scheduled to be completed on December 24, 2024.

Furthermore, the same announcement also states that the construction cost for the contract signed on July 20, 2023, was increased.

The fact that the announcement was made two months before the scheduled completion of the construction suggests that the final construction cost had been finalized at 23 billion won at that point.

◆ The Ocean Resort in Yeosu announces the opening of exhibition and experience-based content, including “SeenB Zoo”

In a press release distributed to media outlets on July 9, 2025, Hanju Group Chairman Yoo Kwang-hyeon stated, “By expanding exhibition and experience-based content in addition to our existing infrastructure, we are set to make a new leap forward as a ‘content-driven, story-based resort’ that goes beyond a mere accommodation and leisure facility.”

He further announced, “We plan to continue providing diverse cultural, artistic, and educational content as a hub for marine culture and tourism representing Yeosu.”

https://www.newsis.com/view/NISX20250709_0003245342

여수 디오션리조트, 신비동물원 등 전시·체험 콘텐츠 개장

https://www.newscj.com/news/articleView.html?idxno=3291262

여수 디오션리조트, 앨리스와 수달이 반기는 문화 놀이터로 변신 - 천지일보

◆ Café with 47 billion won investment still under construction even after receiving use approval and opening

The total amount invested—including advance payments—exceeded 47 billion won by the time the facility received its use approval from Yeosu City on May 7, 2025, and opened on July 9 of the same year.

However, it has been confirmed that some construction work is still ongoing even after the opening.

The fact that construction is still ongoing despite the project timeline being extended and construction costs more than doubling compared to the initial plan suggests that serious internal issues may have arisen.

◆ Annual interest alone requires 2.5 billion won

According to the details of the loans listed in the 2025 fiscal year audit report for The Ocean Resort, the interest rate on most of the financing for facility construction is 5.4% per annum.

Calculations show that the annual interest alone on the 47 billion won amounts to approximately 2.5 billion won.

Given The Ocean Resort’s current situation—with annual sales of approximately 35 billion won and an operating loss of over 5 billion won—the audit report confirm‎s that it is structurally difficult to cover this interest burden with current operating cash flow alone.

2026-06-05

Choi Jong-keun

[Unification Church Anti-Corruption Monitoring Committee]

*As this document was generated by AI, it may contain typos or mistranslations.

[References]

■ EXA E&C Co., Ltd. Announced a 23 Billion Won The Ocean Aqua Garden Construction Contract on October 30, 2024 — Examining Allegations of Stock Price Manipulation (2026-06-03)

https://cafe.daum.net/antiuccorruption/ZXsd/1536

■ “Magnolia Meotjip” Remodeling Costs 6 Billion Won (2026-06-01)

https://cafe.daum.net/antiuccorruption/cRwZ/26

■ Need of “Legal Action” against “Jeong Won-ju” and her associates who forced 200 billion won illegal lending (2026-05-26)

https://cafe.daum.net/antiuccorruption/as2X/774

■ Borrowing of The Ocean Resort 240 billion won? – Yoo Kwang-hyeon, former chairman of Hanju Group, says, “I will not become the second Yoon Young-ho.” (2026-05-22)

https://cafe.daum.net/antiuccorruption/ZXsd/1525

■ 500 billion won investment just for The Ocean Resort – Jeong Won-ju’s purpose of creating “Hanju Group” was to “borrow from financial institutions” ① (2026-05-19)

https://cafe.daum.net/antiuccorruption/as2X/770

■ The Ocean Resort at the verge of bankruptcy ③ – “Unification Church power elites obsessed with appearance” and “Japanese believers exhausted by donations” (2026-05-19)

https://cafe.daum.net/antiuccorruption/ZXsd/1521

■ The Ocean Resort at the verge of bankruptcy ② – Auditor comments “Uncertainty Regarding Going Concern” …needs at least 40 billion won in 2026 (2026-05-17)

https://cafe.daum.net/antiuccorruption/ZXsd/1520

■ The Ocean Resort in Yeosu at the verge of bankruptcy – “Financial borrowings increased by 73 billion won, from 43 billion won in 2023 to 116 billion won in 2025” 92026-05-16)　

https://cafe.daum.net/antiuccorruption/ZXsd/1518