Rising from Haeundae, drifting over Gwangalli Sea, landing at Igidae... Korea's longest sea cable car project sets sail

Haeundae~Igidae Marine Tourism Cable Car Relaunched After 5 Years

Busan Blue Coast Submits Business Proposal... Busan Bank Also Participates

609.1 Billion KRW Invested for 4.2km Longest in Korea, Expected 'Killer Content'

An artist's rendering of the marine tourism cable car being planned between Haeundae and Igidae in Busan.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kim Yong-woo] The longest marine tourism cable car project in Korea has been launched in Busan.

The marine cable car connecting Haeundae and Igidae, expected to become a new 'killer content' for Busan tourism, is being actively re-promoted.

Busan Blue Coast Co., Ltd., the private company promoting the marine tourism cable car, announced on the 11th that it submitted a proposal for the marine cable car construction project connecting Dongbaek Amusement Park in U-dong, Haeundae-gu, and Igidae in Yongho-dong, Nam-gu, to Busan City on the morning of the 11th.

According to Busan Blue Coast, BNK Financial Busan Bank will participate by investing a certain equity stake in this project. As a local bank that has long been loved by Busan citizens, it has secured a strong supporter.

The project section spans a total of 4.2 km between Haeundae and Igidae, which is 1 km longer than the 3.2 km Mokpo Marine Cable Car, making it the longest marine cable car in Korea.

The total project cost of 609.1 billion KRW is expected to be fully funded by private investments from Busan Blue Coast, Busan Bank, and others, but the possibility of participation by city-affiliated public enterprises during consultations with Busan City remains open.

Previously, Busan Blue Coast submitted a proposal to Busan City in May 2016, but it was rejected due to reasons such as traffic, environment, and public contribution plans.

Accordingly, the project operator has prepared a groundbreaking public contribution plan. First, it plans to donate 3% of the cable car's annual sales revenue through various methods. This is estimated to be close to 3 billion KRW annually, which is 10 to 30 times the public donation amounts of other cable cars in Korea.

The terminal buildings on both sides, which will become new landmarks of Busan tourism, will be developed into tourist resources through an international architectural competition.

Additionally, cultural and artistic public facilities will be established within the terminals, and monthly events for marginalized groups, including free rides for severely disabled individuals, will be held.

The proposal also includes operating a Welfare Day, prioritizing employment for local residents, installing nightscape lighting at Igidae, and keeping the rooftop observatory of the stations open at all times.

Special discounted fares during commuting hours are under consideration to encourage use as a public transportation means.

The project operator stated, "From the perspective of public contribution, we will consult with the city to utilize the cable car not only as a tourism facility but also as a public transportation means during commuting hours."

They also said, "We will develop it not just as a simple tourist facility but as a pride of Busan and, furthermore, a landmark of tourism in Korea."

As a traffic measure, considering the parking difficulties around Haeundae, the number of parking spaces has been significantly increased. Compared to five years ago, about one more ship's worth, totaling 1,972 spaces, will be created. Various traffic measures, including road expansion near the terminals, have also been supplemented.

The number of marine towers has been reduced to three to minimize environmental concerns, while ensuring safety with beautifully designed advanced concrete towers, paying attention to aesthetic harmony with Gwangandaegyo Bridge.

To address privacy concerns of residents in Haeundae Marine City, an automatic window fogging device will be installed when passing through this section to completely eliminate complaints.

Notably, the project will introduce the '3S Cable Car,' the first in Korea to use three cables supporting the cabin, to prepare for safety against strong winds and other factors.

The project operator added, "As it will be developed as a representative tourist facility of Busan, we will ensure it becomes a tourist facility owned by Busan citizens, not a specific company, through local investment and citizen public offerings."

The operator expects to attract 3.65 million tourists annually, including foreign tourists from China and Japan, through the marine cable car.

The total economic ripple effect from construction investment, operation, and tourist spending by passengers is projected as follows (based on 30 years of operation): production inducement effect of 12.3533 trillion KRW, added value effect of 5.91 trillion KRW, and employment inducement effect of 145,933 jobs. According to this, it is expected to greatly contribute to regional economic revitalization and youth job creation.

This project is promoted as a private proposal project under Article 26 of the National Land Planning and Utilization Act, and considering administrative procedures for permits and construction periods, it is expected to be completed by the end of 2026 if the project proceeds smoothly.

Movements to promptly attract this landmark project that will enhance Busan's reputation are also active.

In December last year, the Busan Nam-gu Council adopted a resolution urging the attraction of the marine cable car. Voices demanding the construction of the marine cable car have also continued through five-minute free speeches at the Busan City Council.

Officials from the Busan Tourism Association, Accommodation Association, and MICE Association, who have been experiencing severe management difficulties due to the prolonged COVID-19 situation, have also urged early construction of the marine cable car.

A representative of Busan Blue Coast said, "Last year, Busan was selected as an international tourism city and aims to attract the 2030 Expo, but it is regrettable that there is a lack of landmark-type tourist facilities to attract foreign tourists."

He added, "We will work hard in close consultation with Busan City, the City Council, relevant local governments, and Busan citizens to greatly contribute to Busan's marine tourism and economic revitalization."

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