As Busan’s vision for a revitalized local economy draws closer, the city is preparing to take an important step towards making it a reality. The Busan Research and Development (R&D) Special Zone project, aimed at building an innovation ecosystem in the shipbuilding and marine industry, is set to start construction in 2026, and the city is accelerating its efforts to remove the green belt (GB) from the project site.
After a five-month consultation process with the Ministry of Environment regarding the project’s environmental impact, Busan’s strategic environmental impact assessment has finally been approved. This means that the process of removing the green belt can now commence in earnest, with the city submitting a proposal to the Central Urban Planning Commission in the first half of 2023. The city aims to complete the green belt removal by the end of the year and move forward with establishing an implementation plan.
The Busan R&D Special Zone project encompasses an area of 1,763,000㎡ in Daejeo-dong, Gangseo-gu, and is poised to become a hub for the shipbuilding and offshore industries, with the creation of exhibition and convention facilities, including a ‘2nd BEXCO’ at the exhibition site. The project will also bring new opportunities for residents in the Daejeo Public Housing District, with over 17,000 units in the area, as the simultaneous development will create a new workplace living environment in Gangseo.
According to a Busan City official, “The R&D special zone development project has the potential to become a significant driver of economic growth in the city, especially with the planned opening of the Gadeok New Airport.” The city is optimistic that the project will create new jobs, boost the local economy, and secure Busan’s future as a thriving metropolis.
As Busan prepares to take the next steps in this exciting development project, it is evident that the city’s aspirations for a revitalized economy are well within reach. The Busan R&D Special Zone project represents a major step towards a brighter future for Busan, and it is an exciting time for the city’s residents and businesses alike.
