JDC-Berjaya Found Possible Breakthrough
Jeju Free International City Development Centre(JDC) may have found an exit from the legal case with Berjaya Jeju Resort(BJR), Jejueconomy, a local internet newspaper, on Monday, reported.
According to the article, Seoul Central District Court postponed the due adjudication to see both of the parties can make a deal out as much as 350 billion KRW(appx. 310m US$). It was supposed to make the final conclusion on February 6th.
This is drawn out after JDC and BJR met for an agreement. Moon Daerim, the CEO of JDC made a visit to Berjaya Corporation Bhd in Malaysia last December. He is said to have met Vincent Tan, the executive chairman, and exchanged ways to figure the conflict out. They agreed to examine them to minimize the possible damages to the both organizations and will proceed more negotiations.
The weak side is that BJR estimated its loss on the resort project as much as over 4 trillion KRW(appx. 36 bi. US$), which may lead to additional lawsuits. To avoid it, JDC has been ceaselessly contacting landowners, Jejueconomy added.
source: http://www.jejueconomy.com/news/articleView.html?idxno=11543