Last month, four taxpayers —Ramon M. San Nicolas, Vicente C. Aldan, Tarsicio Olopai, and Juan M. Deleon Guerrero — filed a lawsuit in Superior Court challenging the legality of the lease agreement that DPL approved for Laolao Bay Golf Resort.
The plaintiffs, through their counsel, former Judge Edward Manibusan, said the fair rental value of the public land in question should be $12.80 per square meter or $20.7 million for 40 years.
DPL’s lease with Kumho amounted to $2.55 per square meter or $4.12 million in 40 years.
Yum Kim, president of Laolao Bay Golf Resort, said the lawsuit won’t discourage them from pursuing their $68.8 million golftel project.
“The lawsuit is not good news to us. We are sort of [disappointed] about it. But we’re going to stay on with our project,” he told Variety.
“I’d like to assure the people of the CNMI that we are still moving ahead with the project,” he added.
Kumho, the parent company of Asiana Airlines, acquired Laolao from United Micronesian Development Authority last year.
The firm wants to develop the site as a premier golf-resort community with high-end villas.
Thus far, Kim said they have signed in about 10,000 members — mostly from South Korea and Japan — who are entitled to use the Laolao facilities at least three times a year.
Asiana Airlines, the only carrier that flies direct between Saipan and Korea, also can use the Laolao golftel for its promotional campaign.
Kim said the idea is to market Laolao to their clients all over the world.
He said this concept will eventually help the CNMI package itself in a niche market.
Kumho, he added, is convinced that the CNMI is a good place for Korean and Japanese tourists.
“The CNMI has beautiful islands near Japan and Korea. We want this island-chain to be marketed to the Japanese and all over the world. Asiana flies to 15 cities in China and Korea, [eventually we can have connecting flights to the CNMI],” he said.
