Busan City Completes Unfinished Construction After 50 Years

Jungang-daero and Gongdong Fish Market Access Road Expansion Project to be Completed in 2023
Full-Scale Promotion to Resolve Long-Delayed Urban Planning Facilities Unexecuted for 47 Years

The area of the Busan Cooperative Fish Market access road expansion project, which had been unexecuted for 47 years.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kim Yong-woo] The expansion construction of Busan Jungang-daero and the access road to the Joint Fish Market, which had been left unfinished for 47 years, will resume.

Busan City announced on the 11th that it will actively promote the expansion project of Jungang-daero and the access road to the Joint Fish Market, which are uncompleted urban planning roads.

These roads were designated as urban planning facilities in 1972 and have been long-delayed urban planning facilities. Busan City applied for this project to the Ministry of Land, Infrastructure and Transport as a public land reserve project in 2019 and has been preparing for the urban planning facility sunset system as of July 1, 2020.

This expansion project was selected as a public land reserve project by the Ministry of Land, Infrastructure and Transport through the 2019 Public Land Reserve Deliberation Committee review.

Since then, Busan City completed the announcement of the urban planning implementation plan in February 2020, and after mutual agreement adjustments with Korea Land and Housing Corporation from May to July 2020, the final business agreement is scheduled to be signed on the 12th.

Once the Ministry of Land, Infrastructure and Transport announces that the public land reserve project plan (land compensation) can be promoted by Korea Land and Housing Corporation, the corporation plans to carry out administrative procedures such as field surveys and appraisals in the second half of this year. Completion is expected in 2023.

The public land reserve project is a project where the Ministry of Land, Infrastructure and Transport secures land necessary for public projects in advance, and Korea Land and Housing Corporation purchases and supplies the land at an appropriate time.

Korea Land and Housing Corporation will proceed with the compensation process, and Busan City will take over the compensated land through contracts to carry out the project. The compensation cost for this land will be paid in installments over five years.

Choi Dae-kyung, Director of Urban Planning at Busan City, said, “Once this road is expanded, it is expected to greatly contribute to alleviating traffic congestion in the local circulation road network along with the recently opened Sanseong Tunnel and Cheonma Tunnel in Busan.”

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