The Redevelopment of Suyeongman Yacht Stadium Unlocked... Global Maritime Cultural Space Renovated After 40 Years

Busan City and I-Park Marina Sign Revised Agreement on the 20th
Construction Begins in May, Completion Scheduled for December Next Year
Aiming to Become a Marine Leisure Hub

The Suyeongman Yacht Stadium in Busan is finally being redeveloped. After 40 years since its opening, it will be newly renovated and reborn as a global marine culture complex space.

Busan City (Mayor Park Hyung-jun) announced on the 20th at 2 p.m. in the City Hall International Protocol Room that it signed a revised implementation agreement with I-Park Marina Co., Ltd. for the Suyeongman Yacht Stadium redevelopment private investment project and will actively proceed with the project.

The "Suyeongman Yacht Stadium Redevelopment Private Investment Project" was initially agreed upon with I-Park Marina Co., Ltd. in March 2014 but had been stalled for a long time. However, through continuous consultations between the city and the project operator, it was agreed to resume the project.

Busan City has been negotiating with the project operator to reflect the demands of marina industry stakeholders and nearby residents in the implementation agreement to resolve complaints related to the redevelopment project.

Recently, a plan was devised to allow the marina boat rental business, which has been gaining attention as a tourist product in Busan, to continue during the construction period and to provide convenient marine leisure services to tourists and local residents, contributing to the revitalization of marine tourism.

Additionally, reflecting the opinions of nearby residents, the facility scale was adjusted, and a design improvement plan based on this was prepared to meet residents' demands while creating a harmonious urban landscape.

Busan City plans to create a "marine culture complex space" through this project that will revitalize the local economy, attract tourists, and offer various cultural events.

The Suyeongman Yacht Stadium will include 567 berths (317 on water, 250 on land), exhibition and convention facilities, a yacht exhibition hall, yacht club building, yacht care facilities, a swimming pool, and commercial facilities. Currently, the berth capacity is 438 (299 on water, 139 on land).

With a target completion date of December 2026, Busan City plans to swiftly proceed with administrative procedures such as approval of the implementation plan according to the revised agreement and begin construction.

Various permits and approvals, including environmental impact assessments and traffic impact assessments, will be carried out, and resident briefing sessions will be held to listen to and collect residents' opinions.

Also, through prompt administrative procedures, construction is planned to start in May this year, and to minimize residents' inconvenience such as traffic congestion, the Haeundae Beach Road will be expanded from 6-7 lanes to 8 lanes as a priority.

Mayor Park Hyung-jun said, "The Suyeongman Yacht Stadium redevelopment project will be an important milestone that goes beyond simple facility development to advance Busan's marine leisure industry to the next level," adding, "The city, companies, and local communities will cooperate together to ensure Busan takes off as a global complex marine leisure hub."

Perspective view of Suyeongman Marina redevelopment.

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