Hwajeon District

Myeongji

Hwajeon District

Creation of the Complex for the Parts
and Materials Industry

Introduction

  • Location : A designated area of Hwajeon, Shinho, Noksan-dong, Busan
  • Project period : 2003 ~ 2010 (Stage 1-2)
  • Area : 2,448,000㎡ (604.9139ac)
  • Project cost : 764.5 billion Won
  • Project developer : Busan Metropolitan Corporation
  • Expected population : 9,400people
Hwajeon District
 

Development Direction

  • To create high-tech industrial complex in linkage with Sinho Industrial Complex
  • To designate foreign investment zone within the complex for the promotion of foreign investment
 

Current Status

  • Jun2004 : Working design commenced
  • Dec2005 : Notice of approval of revised development plan and approved scheme of execution (Ministry of Strategy and Finance, 2005-27)
  • Aug2007 : Notice of approval of revised development plan and revised scheme of execution (Ministry of Strategy and Finance, 2007-41)
  • Aug2007 : Notice of approval of revised development plan and revised scheme of execution (Ministry of Strategy and Finance, 2008-6)
  • Dec2009 : Construction completed
  • Nov2010 : Notice of approval of revised development and revised scheme of execution (Busan Metropolitan City, 2010-430)
  • Dec2010 : Project completed