Lee Jae-myung Visits Busan: "Gadeokdo New Airport to Open by 2029... Hosting World Expo"

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, announced a set of pledges for Busan on the 6th to enhance the status of Busan, the center of the Busan-Ulsan-Gyeongnam Megacity. These pledges include the opening of the Gadukdo New Airport in 2029, hosting the 2030 World Expo, and fostering Busan as a maritime hub and hydrogen economy center. He also promised to revitalize the blockchain special zone, develop Busan into a global city of culture, arts, and tourism, and underground the Gyeongbu Line railway.

On the day, Lee visited the Busan Port International Exhibition and Convention Center to announce these nine major pledges for Busan. He said, "The logistics that traveled across the country along Busan Port and the Gyeongbu Line railway have been the lifeblood of South Korea's economy, and Busan was the heart that circulated that lifeblood. Now, we will prepare Busan's future in step with the new era of great transformation." He added, "I will implement a strong national balanced development policy so that young people born and raised in Busan can freely pursue their dreams in Busan."

To open the Gadukdo New Airport, which will operate 24 hours by 2029, Lee stated, "After the preliminary feasibility study scheduled to be completed in March, we will immediately proceed with the exemption from the full feasibility study and the establishment of the basic plan. Furthermore, to maximize efficiency in construction and operation, we will promptly establish the Gadukdo New Airport Construction Corporation and Gadukdo New Airport Corporation." He added, "We will build a logistics tri-port linking Gadukdo New Airport, Busan New Port, and railways to lay the foundation for Busan to leap forward as a genuine logistics hub in Northeast Asia." He also plans to attract low-cost carriers (LCCs) to Gadukdo New Airport and build a GTX-level railway network accessible to the new airport.

Regarding the bid to host the 2030 World Expo, he said, "We will maximize Busan's competitiveness in the bid until November next year, when the host city will be decided." He added, "I will appoint the Prime Minister as the head of the promotion committee and personally welcome the World Expo inspection team during their site visit." President Moon Jae-in expressed his intention to host the 2030 World Expo at the 'Korea Day' event held at the Dubai Expo in January. To this end, Lee explained detailed plans including the integrated development project of the North Port area, expansion of low-carbon and eco-friendly transportation, and relocation of the U.S. military's 55th Supply Depot and Pier 8.

To foster the maritime industry hub, Lee mentioned ▲establishing a maritime exchange ▲designating a marine data industry innovation cluster ▲attracting headquarters of shipping companies ▲creating a Busan-style shared university 'Joint Marine Logistics Program' to nurture local talent ▲expanding the autonomy of the Busan Port Authority. Regarding support for the hydrogen economy hub and transition to eco-friendly future industries, he emphasized ▲building a Busan-Ulsan-Gyeongnam hydrogen industry belt and realizing a hydrogen economic zone ▲establishing hydrogen production and supply facilities at Busan New Port ▲creating an LNG, hydrogen, and ammonia energy mega cluster.

Lee also said, "We will revitalize the blockchain special zone to develop Busan as a fintech and digital asset trading center," pledging to support the establishment of a 'Blockchain Promotion Institute' and build a platform that can activate initial coin offerings and security token issuance.

Following the announcement of the one-hour living zone in the Busan-Ulsan-Gyeongnam Megacity the day before, he emphasized plans to underground the Gyeongbu Line railway and establish a master plan for forest paths, youth startup cultural spaces, and youth basic housing. He explained, "Under the grand principle of 'people above ground, vehicles underground,' we will proceed with undergrounding the Gyeongbu Line railway section from Gupo Station to Busanjin Station, which has divided downtown Busan." He added, "We will create Busan's future space along the existing Gyeongbu Line railway section where citizens and youth can work and live." He also pledged to eliminate medical disparities within the Busan area and complete a public medical belt.

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