Creation of the Complex for International Businesses
and Maritime Affairs with Residential Support System
Introduction
Location : A designated area of Songjeong-dong, Busan
Project period : 2016 ~ 2020 (Stage 2)
Area : 760,000㎡ (187.8000ac)
Project cost : 191.4 billion Won
Project developer : To be decided later
Expected population : 11,000people
Development Direction
To provide a hinterland to support stable economic activities brought by increase in logistics business.
Current Status
Oct 2003: Notice for designation of Busan • Jinhae Free Economic Zone
May 2004 : Development plan approved by Busan Metropolitan City
Sep 2004 : Notice of revised development plan
Jan 2005 : Release of development restriction zone
Jul 2009 : Revised development plan approved
Mar 2012 : Intermediate Report of revitalization study results (the second session)
May 2012 : Intermediate Report of revitalization study results (the third session)
Jul 2012 : Revitalization study completed ▷ provided a basis for development plan
Jul 2012 : Review of development plan started ▷ efficient development ideas collected
Jan 2013 : Relocation of Busanjin Station C.Y Songjeong District passed by preliminary feasibility consideration (B/C 1.18)
Nov 2013 : Plan to relocate railway facilities started to be developed (Ministry of Land, Infrastructure, and Transport, project completed on Dec 31, 2014)
Dec 2014 : Busan Regional Rail Plans and the relocation of the master plans on how much of completion
Jul 2015 : Completed the construction of the master plan service for comprehensive development of Busan
Mar 2016: Commended the master plan and design for relocation of railway facilities at Busan Station (Busan City)
Future plan
Second phase of the project (2016~2020) → Sought various ways to develop Songjeong District