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▲ 2026 Yeosu World Island Expo
Companies involved in facility construction for the 2026 Yeosu World Island Expo are protesting after failing to receive billions of won in payments.
According to the 2026 Yeosu World Island Expo Organizing Committee and the companies involved on October 17, businesses that participated in the expo sites, including the main venue in Jinmo District, Dolsan-eup, Yeosu, have not received billions of won for facility construction and rentals.
These companies signed facility contracts worth 1.7 billion won for items such as containers, portable toilets, and air conditioning units with Company A, the agency responsible for the comprehensive execution plan of the island expo.
However, as the performance and materials of individual facilities were upgraded and supply volumes increased, costs reportedly surged by an additional several billion won.
The companies claimed that a total of about 30 businesses have not been paid an increased amount of 3.5 billion won.
Company A signed a comprehensive execution plan worth a total of 19.7 billion won with the Island Expo Organizing Committee, encompassing operation agency services, event operations, facilities, and production.
Among this, facility costs accounted for only 1.7 billion won, meaning the increased amounts must be covered by drawing from budgets under other categories. However, procedures such as item category changes have been delayed, resulting in delayed payments.
Discrepancies in the amounts to be paid between Company A and the companies also leave room for potential disputes.
An official representing the companies stated, "Company A told us they would pay once approval is granted, but we have been waiting for over 40 days believing those words," adding, "Company A and the Organizing Committee are just playing ping-pong with each other."
An official from the Organizing Committee stated that a tripartite meeting was held today to discuss countermeasures, adding that they will actively mediate by discussing procedures such as settlement amounts and approval of changes.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.
