Ministry of Oceans and Fisheries Accelerates Development of Busan Old Downtown as New Marine Industry Hub

The government is accelerating the promotion of the 'Bukhang Redevelopment Project' to develop the original downtown area of Busan into a new marine industry hub.

On the 13th, the Ministry of Oceans and Fisheries announced the Bukhang Redevelopment Project plan containing these details at the 'Public Livelihood Discussion with the People' held in Busan. The Bukhang Redevelopment is a project aimed at redeveloping obsolete piers to return them to citizens and use them as a driving force for revitalizing the local economy.

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The project is divided into phases 1 and 2. Phase 1, which runs from 2008 to 2027, is being promoted as a stage to transform the traditional piers into a marine tourism hub. Phase 2, from 2020 to 2030, aims to develop the original downtown area and others into an international business, commercial, and financial center.

According to the Ministry of Oceans and Fisheries, more than 90% of the current infrastructure has been completed through Phase 1. In November of last year, the waterfront park within Bukhang was fully opened, and in December, the marina (aqua facility) was inaugurated. Moving forward, plans include strengthening cooperation with project implementers and Busan City to promote the construction of an opera house and tram system. Phase 2 focuses on redeveloping the Jaseongdae Pier, the nearby original downtown area, and the Busanjin Station container yard. The government plans to complete the relocation of the Jaseongdae container terminal this year according to the plan.

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