Korea Railroad Announces Bidding for Station Area Development Projects Including Old Pohang Station

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Korea Railroad Corporation (KORAIL) is inviting private sector participants to develop the former Pohang Station abandoned railway site and the Asan Baebang railway site.

According to KORAIL on the 13th, the public offering will be conducted for 70 days starting today, based on the premise that private businesses purchase KORAIL land.

The former Pohang Station development project involves developing approximately 26,000㎡ of railway land near the old Pohang Station, which ceased operations after the establishment of KTX Pohang Station.

Previously, KORAIL coordinated with Pohang City to shorten the permit period for the former Pohang Station development project and enabled development into mixed-use facilities including residential, retail, and office spaces, thereby enhancing the project's feasibility.

Most notably, the project site in Daeheung-dong, Buk-gu, Pohang-si, Gyeongbuk, is advantageous due to its proximity to central city commercial facilities such as Jukdo Market and Pohang Central Shopping District, and the recent increase in foot traffic driven by local government development projects.

The Asan Baebang site development project involves developing approximately 22,000㎡ of vacant land in Jangjae-ri, Baebang-eup, Asan-si, Chungnam, into a general commercial site.

This site is a prime station area located just a 2-minute walk from Cheonan-Asan Station where the KTX stops, with all surrounding commercial and office lands already sold. In particular, the nearby Tangjeong District development (phases 1 and 2 completed, phase 3 underway) and the expansion of Samsung Display’s production plant are expected to attract an industrial population exceeding 50,000.

KORAIL will post further detailed information about the station area development public offering on its website and disclose materials such as the public offering guidelines.

KORAIL’s Sung Kwang-sik, Head of Business Development Division, said, “Railway land will become a complex space where residential, commercial, and transportation functions coexist, serving as a new focal point for the local community,” adding, “We will strive to revitalize the local economy through organic cooperation with local governments and related organizations.”

This content was produced with the assistance of AI translation services.