Korea's First Hydrogen 'Next-Generation Busan Express Railway' Passes Private Investment Feasibility Assessment

BuTX Private Investment Project Passes KDI Feasibility Assessment
Innovative Transportation Linking Gadeokdo New Airport, North Port, and Haeundae Across Busan

The next-generation Busan-type express railway project, known as 'BuTX,' which is being promoted by the city of Busan, has passed the private sector feasibility assessment conducted by the Korea Development Institute (KDI).

On October 1, just two days before the Chuseok holiday, Busan Mayor Park Hyungjun held an urgent briefing with an excited tone, stating, "I have very good news to share with our citizens."

The BuTX project aims to create a high-speed transportation system in the underground spaces of downtown Busan, connecting major urban hubs through a high-speed rail network. Hydrogen-powered trains will be introduced, running from the new Gadeokdo Airport to North Port and Haeundae, with the goal of opening in time for the new airport's launch.

Busan Mayor Park Hyungjun is briefing on the morning of the 1st about the private sector feasibility approval result of the next-generation Busan-type express railway project.

The project gained momentum in September 2023 when Hana Financial Group, serving as lead manager, submitted a proposal through the provisional entity 'BuTX Express Railway Co., Ltd.' In November of the same year, the city of Busan requested a feasibility assessment from KDI, and with this approval, the project can now proceed as a private investment initiative. By adopting the private investment model, the city aims to reduce its fiscal burden and improve project efficiency.

Once BuTX is operational, it is expected to bring multiple benefits, including reduced commuting times, alleviated traffic congestion, enhanced public transportation convenience, and lower carbon emissions. The city plans to complete the strategic environmental impact assessment, disaster impact review, and transfer convenience review by the end of this year, after which it will prepare a third-party proposal announcement. In the first half of 2026, the city council's approval and a review of the private investment project will follow, leading to the third-party proposal announcement, and in 2027, the selection of a project operator and the signing of an implementation agreement.

The stations will be developed using a mixed-use approach to create synergy with surrounding areas. In addition, there are plans to expand the project to Gyeongnam and Ulsan, aiming to develop a metropolitan railway network that connects Busan, Ulsan, and Gyeongnam within a 30-minute living zone. To this end, the city submitted a request to the Ministry of Land, Infrastructure and Transport in May last year to include the project in the '5th National Railway Network Construction Plan' and is continuing discussions.

Mayor Park Hyungjun emphasized, "BuTX, which will introduce hydrogen-powered trains for the first time in Korea, marks a turning point for Busan to become an advanced eco-friendly hydrogen city. It will serve as the key axis of the metropolitan economic zone connecting Busan, Ulsan, and Gyeongnam, and will be the driving force for Busan to emerge as a global hub city."

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