Busan 'Bukhang Redevelopment Phase 2 Project' Sets Sail

Busan City Holds First Meeting of Business Negotiation Team on 27th... Phase 2 of Bukhang Project to Be Led by Citizens

Conceptual plan for the Busan North Port Redevelopment Phase 2 project.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City formed a negotiation team representing the project operator for the second phase of the North Port redevelopment project and held the first negotiation team meeting on the 27th at the Conference Hall of the Busan International Passenger Terminal Exhibition Convention Center.

The negotiation team on the operator side consists of 11 members including the Director of the Urban Balanced Regeneration Bureau of Busan City and 14 members of the working group.

Attendees at the meeting included Park Seong-hoon, Deputy Mayor for Economic Affairs of Busan City; Kim Gwang-hoe, Director of the Urban Balanced Regeneration Bureau of Busan City; Kim Seong-beom, Director of the Port Bureau of the Ministry of Oceans and Fisheries; Jeon Chan-gyu, Head of the Port Regeneration Project Group at Busan Port Authority; Kim Baek-yong, Head of the Busan-Ulsan Regional Headquarters of Korea Land and Housing Corporation; and Seong Du-gyeong, Director of the Future Strategy Office at Busan Urban Corporation.

Future negotiations with the government will be conducted in three areas: ‘development plan, financial plan, and operation plan,’ covering ▲the development method for the second phase of North Port ▲comparative analysis with government plans ▲plans for mutual development with the original downtown area ▲plans linked to the 2030 Busan World Expo ▲and financing plans.

Busan City included the Sanbok Road areas of Choryang Axis and Sujeong Axis in the development zone to overcome the chronic problem of disconnection between the downtown and the sea in the second phase of the North Port redevelopment project. To minimize the indiscriminate development that was controversial in the first phase, the public facility ratio was expanded from the government’s proposal of 45% to 51%.

Busan City plans to reflect diverse opinions from various sectors into the project plan by forming the ‘North Port Redevelopment Pan-Citizen Promotion Council (tentative name)’ to promote the blueprint for Busan’s next 100 years together with its citizens.

Additionally, an online public hearing for the second phase of the North Port redevelopment project will be held to incorporate citizens’ opinions into the project content from the negotiation stage.

At the meeting, Park Seong-hoon, Deputy Mayor for Economic Affairs of Busan City, said, “We will concentrate all our capabilities to ensure that the North Port redevelopment, which will open Busan’s 100-year future, proceeds in the direction desired by the citizens.”

Deputy Mayor Park added, “The role of the negotiation team on the operator side is more important than anything else to ensure the smooth progress of the North Port redevelopment project, which is the core of the Busan Grand Renovation. Going forward, Busan City will take a leading role not only administratively as the representative of the project operator but also in attracting domestic and foreign investment throughout the project.”

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