TAX MONEY DETECTIVE · EXPO · Operating · Under investigation (reported)

2026 Yeosu World Island Expo

An island-themed expo approved by the government as an international event in 2021. Planned at 31 days and 2 million visitors, it grew to 61 days and a direct budget of ₩71.3bn (from ₩24.8bn). It opened on 5 Sep 2026; final visitors, revenue and economic effects are not yet known.

Jinmo district, Dolsan-eup, Yeosu (main site); Gaedo and Geumodo islands · 2026-09-05 ~ 2026-11-04 · Issuer 여수세계섬박람회 조직위원회 · Checked 2026-10-03

All projects 한국어

Direct project cost: ₩71.3bn
Public money: ₩59.3bn
national + provincial + municipal
Biggest contractor: 엠비씨플러스 ₩19.79bn
Budget growth since approval: +187.5%
Visitors: target vs actual: 3,000,000 / 431,198
as of 2026-09-30 · pending
Audits / probes / inquiries: 3
3 ongoing or scheduled
Confirmed misconduct: 0
only rulings, audit findings, dispositions

8 contract red flags · 0 documented connections · 0 audit findings · 3 ongoing · 0 confirmed misconduct

Red flags are patterns worth a closer look, not findings of wrongdoing. There is no combined score; check each axis below.

01 / PUBLIC MONEY FLOW

Money flow: funding → issuers → contracts

Funding — National ₩6.4bn · Provincial ₩15.3bn · Municipal ₩37.6bn · Project revenue ₩12bn News report 2026-09
↓ 여수세계섬박람회 조직위원회 — direct budget ₩71.3bn
Separate: linked projects 77 ₩113.6bn — Linked projects (road widening, smart lighting, tourism). The province counted direct 703 + linked 1,136 = 1,839 and said linked money did not go into the expo itself. The direct figure is reported as 703 or 713 depending on date. News report 2026-09
↓ KONEPS awards 412 records · ₩69.56bn
↳ 여수세계섬박람회 조직위원회 ₩47.55bn (140 records)
- ↳ 엠비씨플러스 ₩19.79bn · Negotiated · notice 2025-01-24 · prime
- ↳ 효강종합건설 ₩5.49bn · Restricted competitive · notice 2025-09-04 · prime
- ↳ Contracts not itemised ₩2.83bn
- ↳ 스피언스 ₩2.49bn · Negotiated · notice 2025-10-24 · prime
- ↳ 지엠파워텍 ₩2.49bn · Open competitive · notice 2026-01-05 · prime
- ↳ 세은건설 ₩2.22bn · Restricted competitive · notice 2025-12-19 · prime
- ↳ 레인보우커뮤니케이션 ₩2.16bn · Open competitive · notice 2025-07-11 · prime
- ↳ 더서울테크 ₩2.12bn · Nominated competitive · emergency · notice 2026-02-13 · prime
- ↳ 태산종합건설 ₩1.87bn · Restricted competitive · emergency · notice 2026-03-27 · prime
- ↳ 엔토닉크리에이티브 ₩1.46bn · Negotiated · emergency · notice 2026-03-17 · prime
- ↳ 미주강화 ₩1.45bn · Restricted competitive · emergency · notice 2026-03-30 · prime
- ↳ 주식회사 이상 ₩1.43bn · Negotiated · notice 2025-09-02 · prime
- ↳ 인터파크트리플 ₩845m · Unknown · notice 2024-11-15 · prime
- ↳ 이지티 ₩490m · Sole source · prime
- ↳ 도깨비컴퍼니 ₩420m · Restricted competitive · prime
- ↳ Subcontracts: not public — request via FOI
↳ 여수시 ₩21.55bn (255 records)
- ↳ Contracts not itemised ₩13.93bn
- ↳ 승보종합건설 ₩5.1bn · Open competitive · prime
- ↳ 청주아일관광 ₩1.66bn · Unknown · prime
- ↳ 지누커뮤니티 ₩860m · Open competitive · prime
- ↳ Subcontracts: not public — request via FOI
↳ 기타 기관 ₩450m (17 records)
- ↳ Contracts not itemised ₩450m
- ↳ Subcontracts: not public — request via FOI

Tenders, openings and contracts on KONEPS issued by the committee or titled "섬박람회" (2021-01-01 to 2026-09-18). Third-party analysis, not yet checked against KONEPS originals. Subcontracts are not in KONEPS. Investigative analysis 2026-09

02 / BIGGEST BENEFICIARIES

Who received the most

1. 엠비씨플러스: ₩19.79bn · of all awards 28.5%
2. 효강종합건설: ₩5.49bn · of all awards 7.9%
3. 승보종합건설: ₩5.1bn · of all awards 7.3%
4. 스피언스: ₩2.49bn · of all awards 3.6%
5. 지엠파워텍: ₩2.49bn · of all awards 3.6%
6. 세은건설: ₩2.22bn · of all awards 3.2%
7. 레인보우커뮤니케이션: ₩2.16bn · of all awards 3.1%
8. 더서울테크: ₩2.12bn · of all awards 3.0%

여수세계섬박람회 조직위원회: TOP1 41.6% · TOP3 58.4% · TOP5 68.3%여수시: TOP1 23.7% · TOP3 35.4% · TOP5 35.4%

Concentration = top contractors ÷ the issuer’s total (including contracts not itemised). High concentration is not itself wrongdoing; one large operations contract dominating is common for expos.

03 / RED FLAGS

Red flags — patterns worth a look

Cost growth: Government-approved base budget ₩248억 → now ₩713억 (+187.5%)
Single bid: 엠비씨플러스 — Master execution plan and operations agency (22 + 175.9), budget 269억, award ratio 73.1%
Late emergency tender: 더서울테크 — Landmark media facade: emergency notice 6.7 months before opening
Late emergency tender: 태산종합건설 — World/Korean islands theme zone construction: emergency notice 5.3 months before opening
Late emergency tender: 엔토닉크리에이티브 — Theme-island wall projection: emergency notice 5.7 months before opening
Late emergency tender: 미주강화 — Theme-zone sculptures: emergency notice 5.2 months before opening
Single bid: 인터파크트리플 — Ticketing agency (2024 award), budget 9.6억, award ratio 88.0%
High concentration: 엠비씨플러스 holds 41.6% of 여수세계섬박람회 조직위원회 contracts in this dataset

Rules: budget up 30.0%+ since approval · contract up 50.0%+ · 3+ changes · single bid on a competitive/negotiated tender · one firm 40.0%+ of an issuer · 3+ sole-source awards to one firm · sole-source awards 30 days apart · emergency notice within 9 months of opening.

04 / CONTRACTS

Contracts, competition and award ratios

Contractor · work	Issuer	Method	Bidders	Budget	Award ratio	Amount
엠비씨플러스 Master execution plan and operations agency (22 + 175.9) — One bidder on record. Award ratios elsewhere: Suncheon 95%, Taean 92%, Boryeong 87%, Gangwon 61% (6 bidders)	여수세계섬박람회 조직위원회	Negotiated	1	₩26.9bn	73.1%	₩19.79bn
효강종합건설 Main venue construction, phases 1–2 — Phase 1 award 49.1; phases 1–2 total 54.9	여수세계섬박람회 조직위원회	Restricted competitive	204	₩7.38bn	66.5%	₩5.49bn
승보종합건설 Climate-resilient urban forest at the venue, phases 1–2	여수시	Open competitive	367	—	—	₩5.1bn
스피언스 Domestic and overseas attraction and operations — No opening record; contracted later	여수세계섬박람회 조직위원회	Negotiated	—	₩2.54bn	—	₩2.49bn
지엠파워텍 Main venue electrical works	여수세계섬박람회 조직위원회	Open competitive	1240	₩2.26bn	80.1%	₩2.49bn
세은건설 Landmark building and mechanical works	여수세계섬박람회 조직위원회	Restricted competitive	120	₩2.93bn	74.7%	₩2.22bn
레인보우커뮤니케이션 Integrated PR agency (10 + 11.6)	여수세계섬박람회 조직위원회	Open competitive	—	₩2.4bn	—	₩2.16bn
더서울테크 Landmark media facade	여수세계섬박람회 조직위원회	Nominated competitive · emergency	4	₩2.42bn	—	₩2.12bn
태산종합건설 World/Korean islands theme zone construction	여수세계섬박람회 조직위원회	Restricted competitive · emergency	7	₩2.26bn	78.3%	₩1.87bn
청주아일관광 Shuttle bus operation — Re-tendered after a failed first round	여수시	Unknown	3	—	—	₩1.66bn
엔토닉크리에이티브 Theme-island wall projection	여수세계섬박람회 조직위원회	Negotiated · emergency	—	₩2bn	—	₩1.46bn
미주강화 Theme-zone sculptures	여수세계섬박람회 조직위원회	Restricted competitive · emergency	16	₩1.67bn	88.0%	₩1.45bn
주식회사 이상 Symbolic art photo zones (2)	여수세계섬박람회 조직위원회	Negotiated	—	₩1.79bn	—	₩1.43bn
지누커뮤니티 Main approach road landscaping, phases 1–3	여수시	Open competitive	—	—	—	₩860m
이지티 Smart safety monitoring system — Sole-source after two failed tenders	여수세계섬박람회 조직위원회	Sole source	—	—	—	₩490m
도깨비컴퍼니 Traffic control	여수세계섬박람회 조직위원회	Restricted competitive	14	—	—	₩420m
인터파크트리플 Ticketing agency (2024 award) — Awarded after two failed tenders; master contract with NOL Universe in Dec 2025	여수세계섬박람회 조직위원회	Unknown	1	₩960m	88.0%	₩845m

Award ratio = winning bid ÷ notice budget. "—" means not found in public records. Investigative analysis 2026-09 · News report 2026-07

05 / CONTRACT CHANGES

Contract changes

지엠파워텍 — Main venue electrical works: Original ₩1.81bn → ₩2.49bn (Not published) · +37.6%
세은건설 — Landmark building and mechanical works: Original ₩2.19bn → ₩2.22bn (Not published) · +1.4%
태산종합건설 — World/Korean islands theme zone construction: Original ₩1.77bn → ₩1.87bn (Not published) · +5.6%
미주강화 — Theme-zone sculptures: Original ₩1.47bn → ₩1.45bn (Not published) · -1.4%

Increase = (final − original) ÷ original. Reasons come only from change-order documents; if unpublished they stay "not published".

06 / SOLE SOURCE

Sole-source share

Sole source: 356 records · ₩10.52bn — count 86.4% · amount 15.1%
Competitive (restricted, open, nominated): 56 records · ₩59.04bn

Sole-source awards are allowed for small amounts, failed tenders and emergencies under procurement law. A high share is not evidence of wrongdoing; check each award’s legal basis in the contract file.

07 / PROMISE VS RESULT

Promised vs delivered

Item	Plan	Actual	Status
Direct budget	₩24.8bn (2021 approval)	₩71.3bn +187.5%; official reasons: longer run, more content	Off plan
Run	31 days (17 Jul – 16 Aug 2026)	61 days (5 Sep – 4 Nov 2026) A change of plan, not a target	Unknown
Visitors	2m (2021) → 3m (current target)	431,198 (cumulative to end of Sept, day 26) About 49,000 a day needed for the target (reported); final after closing	Pending
Participating countries	About 30 (2021)	27 countries, 3 international organisations	Partially met
Advance tickets	₩9.6bn	₩2.15bn (22.4%, as of May 2026)	Pending
Project revenue	₩12bn	Not final	Pending
Economic effect	Output ₩399.9bn, value added ₩177.9bn, 6,208 jobs (2021 ex-ante)	No ex-post study yet	Pending

Public money per visitor (interim): ₩137,524 — cumulative to 2026-09-30, not final · at target ₩19,767
Revenue recovery: Actual not final · plan 16.8% (₩12bn ÷ ₩71.3bn)

Per visitor = public money ÷ visitors. Recovery = direct project revenue ÷ total cost.

08 / ECONOMIC IMPACT

Announced economic impact is not government income

By: 대외경제정책연구원(국제행사 타당성 조사, 2021.3~7) · 2021-08-12
Gross effect (as published): output ₩399.9bn · value added ₩177.9bn · jobs 6,208
Basis: Ex-ante estimate for the original 31-day, 2m-visitor (60k foreign) plan; method and multipliers not yet obtained
Net additional effect: Not published or verified
Additional tax revenue: No data

Output effects estimate transactions across the economy, not money the government earns. Net effect requires removing spending merely displaced from elsewhere.

09 / RELATIONSHIPS & CONFLICTS

Decision makers, contractors and conflicts

Decision maker–contractor ties · NOT CHECKED: Family, past-employment or shared-company links between decision makers and contractors have not yet been checked against registries.
Political donations · NOT CHECKED: Political donations by contractor executives (NEC large-donor disclosures) not yet checked. Donating is not itself wrongdoing.
Revolving door · NOT CHECKED: Post-retirement employment at contractors not yet checked.
Bribes, entertainment, kickbacks · NO EVIDENCE FOUND: As of 2026-10-03 no bribe, entertainment or kickback has been confirmed by an audit, investigation or court. A police investigation into the operations-agency evaluation is ongoing.

Decision points

International-event approval (government, 9 Aug 2021) — 정부 News report 2021-08
Procurement and operation (organising committee, launched 8 Dec 2023) — 여수세계섬박람회 조직위원회 Investigative analysis 2026-09
Hosts and expansion funding (province and city) — 전라남도 · 여수시 News report 2026-09

People are shown by official role only. Donations or past employment, even when documented, are not evidence of wrongdoing.

10 / CONFIRMED MISCONDUCT

Bribes, entertainment, kickbacks — officially confirmed

NO EVIDENCE FOUND — As of 2026-10-03, no misconduct confirmed by an auditor, regulator, prosecutor, police or court was found. Ongoing probes are listed separately below.

11 / AUDIT · INVESTIGATION · COURT

Audits, investigations and inquiries

2026-07-15 · Police · ongoing · REPORTED
Reported police investigation into whether the operations-agency proposal evaluation favoured one bidder and whether officials intervened in a later facility supply; materials secured. No confirmed charges found. News report 2026-07 · News report 2026-07
2026-09-29 · National Assembly · ongoing · REPORTED
13 lawmakers filed 20 document requests (Public Administration and Culture committees) — reported as a parliamentary-audit target News report 2026-09
2026-10-06 · Ministry of the Interior · scheduled · REPORTED
Ministry of the Interior audit scheduled (reported) News report 2026-09

12 / CLAIM VS RESPONSE

Claims and official responses

CLAIM · REPORTED — 107 overseas trips related to the expo (Online and press (search of the overseas-trip records system))

RESPONSE · Yeosu City — 21 trips over three years since 2023 were expo benchmarking; the other 86 were trips for other purposes that also looked at island expos News report 2026-09

SO FAR — Thin reports (impressions only) confirmed by press; no audit outcome News report 2026-09 · News report 2026-09

CLAIM · ALLEGED — "₩180bn spent on a plastic greenhouse" (Viral posts)

RESPONSE · South Jeolla Province — 1,839 = direct 703 + 77 linked projects worth 1,136 (roads, lighting); linked money did not go into the expo News report 2026-09

SO FAR — Weekly Kyunghyang: the "rendering" used was from an unattributed blog, not the official plan News report 2026-09

CLAIM · REPORTED — Geomundo boat-song show on a dressed-up 1-ton truck (Viral video and press)

RESPONSE · Organising committee — A municipal linked-programme show, not paid from the direct budget News report 2026-09

CLAIM · REPORTED — Alleged rigging of the operations-agency evaluation (₩26.9bn notice) (Press)

RESPONSE · Organising committee — Evaluators were drawn publicly with police and the city auditor present; the committee cannot influence scores. Alleged official interference is being checked News report 2026-07

SO FAR — Police investigation ongoing — no outcome News report 2026-07 · News report 2026-07

CLAIM · NO EVIDENCE FOUND — Unpaid wages for site workers (Viral posts)

SO FAR — Weekly Kyunghyang found nothing to support it News report 2026-09

13 / WHAT REMAINS

What remains afterwards

Main-site facilities and landmark (Jinmo reclaimed land) · Unknown: No book or appraised value — not estimated — Post-expo retention, demolition or conversion plans not yet confirmed from official documents.
Post-expo maintenance: Not published — No public figure found

14 / BENCHMARK

Against other expos

Event	Days	Cost	Per day
2026 Yeosu World Island Expo	61	₩70.3bn	₩1.15bn
2023 Suncheon Bay Garden Expo Existing national garden site	214	₩204bn	₩950m
2023 Saemangeum World Scout Jamboree	12	₩117.1bn	₩9.76bn
2023 Gangwon World Forest Expo	31	₩30bn	₩970m
2026 Taean International Horticultural Healing Expo	30	₩20.8bn	₩690m

Sites, durations and formats differ, so no ranking is implied. Per-visitor comparisons follow once final attendance is known. Investigative analysis 2026-09

15 / PROFILES