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Berjaya Land ends Korean JV

KUALA LUMPUR: Berjaya Land Bhd's proposed joint-venture with Korea’s Jeju Free International City Development Center (JDC) to build the Themed Village project through a memorandum of agreement (MoA) is no longer effective.

In a filing with Bursa Malaysia on Tuesday, June 22, the company said that both parties came to a mutual agreement that the MoA dated back in August 20, 2008 for the development of the 145-acre land area in San 35-7 Seokwang-Ri, Anduk-Myun, Seogwipo-City, Jeju Special Self Governing Province, Korea has lapsed and is therefore void.

Berjaya said that it has decided to focus on its current joint-venture development project in Jeju with JDC. This current project is a resort-type residential and commercial complex development project at Yerae-dong, Seogwipo-si, Jeju Island that is undertaken by Berjaya Jeju Resort Limited.
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