Laolao Bay unveils new clubhouse

Saipan LauLau Development last Friday inaugurated the new clubhouse for its $60-million Golftel Development Project at Laolao Bay Golf Resort.

No less than Gov. Benigno R. Fitial was in attendance in the unveiling ceremony and once again thanked Saipan LauLau and its parent company, Kumho Asiana Group, for investing heavily in the Commonwealth.

Fitial also took the opportunity to urge lawmakers to support Kumho Asiana, which after acquiring the sprawling Kagman property in Feb. 28, 2007, has become one of the islands’ anchor investors.

“I call on all of our elected officials to renew their commitment to this company, which has committed so much investment capital and flight capacity to the CNMI for so many years, during both bull and bear markets. Few other investors can produce the synergy, value, and integration that this group brings to this project and to the people of the CNMI. Here, with this project and investment commitment, we will have a convergence of unparalleled flight service, exceptional resort accommodations, and world class recreational golfing opportunities. Given the current global financial climate, now is not the time for our leaders to waiver or be timid in their support for a committed anchor investor,” he said.

Kumho Resort president Bong Ko Kim seconded the governor’s call for support of his company and its investment, even quoting from the famed Greek storyteller Aesop.

“We are now in the midst of a global economic phenomenon, with effects reaching far beyond what the world has ever seen before. Now, more than ever, is the time for us to link hands and persevere, most importantly, together. As the great slave from ancient Greece Aesop taught through his fables, ‘United we stand, divided we fall,’” he said.

Kumho Resort is the local subsidiary of Kumho Asiana and own Saipan Laulau.

Fitial, for his part, pledged his administration’s continued support for Kumho Asiana’s $60-million Golftel Development Project. He added that he already is looking forward to the project’s success in the years ahead.

“If this golf resort succeeds, as I fully expect it will, the CNMI will also experience success and benefit from the success of this multi-million dollar venture. The project’s success, however, is a long-term undertaking, one that will be fully realized beyond the immediate financial volatility in today’s world markets.”

According to Saipan Laulau president Yun Kim the new clubhouse actually is an extension of the old one and incorporates a customer lounge, a reception counter, a pro shop, a golf cart storage, and the facility’s operations department.

He said the old clubhouse now houses the Crystal View Restaurant and a renovated starter area.

Other additions to Laolao Bay include a new tee-house overlooking East No. 4 Green, No. 5 Fairway, and the picturesque LauLau Bay. The facility also has 90 brand new environmentally friendly electric golf carts.

Yun Kim said with these new facilities and renovations to old structures, Laolao Bay would not only be able to accomplish its objective of making Saipan a premiere golf destination in Micronesia but the entire Pacific as well.

Also present during the ribbon-cutting ceremony were Senate President Pete Reyes, House Speaker Arnold Palacios, Cabinet officials, and other VIPs from the local business and Korean communities.

The Golftel Development Project originally was pegged at $68 million, but the global recession and the decreasing value of the won, prompted Saipan LauLau to scale back the project by $8 million.

From an original July 1, 2009 completion date, the Golftel project is also now penciled to be finished by the end of next year.