North Korea is reported to have negotiated a golf resort project in Gaesong with a South Korean developer, bypassing Hyundai Asan, South Korea’s main operator of inter-Korean projects.

A Ministry of Unification official said Monday that the North’s Asia-Pacific Peace Committee signed a letter of intent last year with the domestic real estate company Unico. The letter provided for Unico to build three golf courses at the Gaesong Industrial Complex.

The official said that although Hyundai Asan seems to hold exclusive rights to golf course development within the complex, the concerned parties should settle the matter through negotiation, adding that neither has gained official approval.

Meanwhile, a Hyundai Asan official said the company will respond accordingly after a meeting with Unico.