"Public Healthcare Infrastructure Opens Up"... Busan Signs Implementation Agreement for Seobusan Medical Center Private Investment Project

Total Project Cost Set at 85.826 Billion Won (Fixed Value)
Construction to Begin in 2026, Completion Targeted for 2028

The construction of Seobusan Medical Center, a long-awaited public healthcare infrastructure project for residents in western Busan, has entered full swing.

On the morning of September 5, the Busan Metropolitan Government (Mayor Park Hyungjoon) held a signing ceremony for the "Implementation Agreement for the Build-to-Lease (BTL) Private Investment Project for Seobusan Medical Center" with Seobusan Healing Planet Co., Ltd. at the main auditorium of the Saha-gu District Office's second building.

Mayor Park Hyungjoon and Choi Jinguk, CEO of Taeyoung Construction Co., Ltd., the lead company in the consortium, attended the ceremony to finalize the last step of the agreement. The medical center is planned to be built in the Sinpyeong-dong area of Saha-gu.

Since September last year, the city has held more than 15 rounds of negotiations with Seobusan Healing Planet Co., Ltd., which was selected as the preferred bidder. The agreement was reached after the Private Investment Project Review Committee's deliberation on August 21 and a report to the city council's standing committee on September 4.

Aerial view of Seobusan Medical Center.

The total project cost is set at 85.826 billion won (as of January 1, 2021, fixed value). Upon completion, ownership of the facility will be transferred to the city. The project operator will have the right to manage and operate the facility for 20 years. The annual average facility lease fee will be about 8.132 billion won, and the annual operating cost will be about 957 million won.

The Seobusan Medical Center project has been underway since 2015, but has faced various obstacles and delays. However, after Mayor Park Hyungjoon took office, the project was put back on track despite challenges such as soaring construction costs, as the city succeeded in securing an increase in the project budget limit from the Ministry of Economy and Finance. The city completed the site acquisition last year, and with this agreement, the project operator has been designated. The city will now proceed with detailed design and approval procedures, aiming to begin construction next year and complete the project in 2028.

The medical center will be developed as a Build-to-Lease (BTL) private investment project, with a total floor area of 29,166.41 square meters and a land area of 14,381.5 square meters. It will be a general hospital with one basement floor and six above-ground floors, accommodating 300 beds.

The center will operate as a 24-hour regional emergency medical center, equipped with essential general hospital departments, infectious disease response capabilities, and a dental center for people with disabilities. It will also introduce the latest medical equipment, such as CT and MRI scanners, to establish itself as a key public healthcare institution in the region.

Mayor Park stated, "After more than ten years of anticipation from our citizens, Seobusan Medical Center has finally reached the implementation agreement stage. With its dental center for people with disabilities and 24-hour emergency medical services, Seobusan Medical Center will provide high-quality healthcare and serve as a core component in realizing a '15-minute medical city' that strengthens the public health system."

He added, "Together with Busan Medical Center in central Busan, I will ensure that we meticulously oversee the process so that these institutions become the foundation for a safer Busan."

Location map of the site for Seobusan Medical Center.

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