Table of Contents
- Progressing with Approval for the Lifting of GB in the West Busan Complex Industrial Complex
- A Long-Awaited Project for 8 Years, Finally ‘Passed as Original’
- Leaping as the ‘Future Growth Axis’ of West Busan
- Creating a Self-sufficient Innovation Cluster that Integrates Industry, Research, and Living
- Conclusion
- Frequently Asked Questions (FAQ)
Progressing with Approval for the Lifting of GB in the West Busan Complex Industrial Complex
On October 23, Busan city announced that the Ministry of Land, Infrastructure and Transport's Central Urban Planning Committee has approved the lifting of the development restriction zone of approximately 1.3 million square meters for the 'West Busan Complex Industrial Complex'.
As a result, the establishment of a general industrial complex covering 1,385,000 square meters in the Gangdong-dong area of Gangseo-gu is set to begin in earnest. This is expected to have a positive impact on regional economic revitalization and job creation.
This project aims to enhance Busan’s main industries in response to the changing industrial environment and to establish a foundation for advanced digital and smart transition. The Busan Urban Corporation will participate as the project implementer, and an advanced manufacturing complex focused on machinery, electricity, electronics, etc., is expected to be developed.
Recommended Reads on West Busan Development
A Long-Awaited Project for 8 Years, Finally ‘Passed as Original’
The 'West Busan Complex Industrial Complex' project was first initiated in 2017 through a private consortium (SK Consortium) but was halted for a while due to public interest issues. Changes began when the Busan Urban Corporation became directly involved.
In 2019, a feasibility study was conducted, and in 2020, design work began. The incorporation of Jungdeok Village was decided in 2022, and an application for lifting the development restriction area is expected to be made in 2024.
In June of this year, the Central Urban Planning Committee of the Ministry of Land, Infrastructure and Transport decided on 'resubmission after supplementation' as the result of the first review. After concluding discussions with related departments on environmental, traffic, and agricultural aspects, Busan City ultimately received approval for 'passing as original'.
As a result, the project will now enter the phase of establishing an industrial complex plan, which is expected to be carried out from 2025 to 2026. Subsequently, compensation and construction processes are planned to occur between 2026 and 2028. This project is anticipated to play a crucial role in the development of the West Busan area.
Leaping as the ‘Future Growth Axis’ of West Busan
The project site covers approximately 1.39 million square meters (420,000 pyeong) in the Gangdong-dong area of Gangseo-gu. This area is adjacent to the Busan Research and Development Special Zone, Gangdong and Daejeo Public Housing Districts, and the Second Eco Delta City.
This aims to create an activation belt integrating 'R&D - Industry & Logistics - Living' in the West Busan region. Through this, the model of job-housing proximity self-sufficient city will be realized.
The city also aims to enhance traffic accessibility through connection with major infrastructures such as the Daejeo Bridge (road between Sikyun and Sasang) and introduce the concepts of a 15-minute city and compact city.
After completion, securing industrial facilities land is expected to respond to future industrial demands and create local jobs, while positively impacting corporate site expansion.
Creating a Self-sufficient Innovation Cluster that Integrates Industry, Research, and Living
The lifting of the GB is seen as a pivotal turning point to transform the entire West Busan area into a center of innovative growth.
In the surrounding Busan Research and Development Special Zone, high-tech companies focusing on research and development will be established, and the complex industrial zone is expected to strengthen industrial and logistics functions. Additionally, a residential environment and living infrastructure will be built in the public housing districts, leading to expected synergy effects.
Busan City plans to develop the West Busan complex industrial complex not just as an industrial site, but as an integrated cluster that will lead Busan's future industrial innovation. Accordingly, procedures for establishing the industrial complex plan and compensation will be expedited to revitalize the local economy and create new jobs.
Conclusion
The approval for the lifting of the GB for the West Busan Complex Industrial Complex marks an important turning point for the development of West Busan.
The Gangdong-dong area of Gangseo-gu is expected to establish itself as a core of the 'Busan-style job-housing proximity self-sufficient city', and through connections with the Busan Research and Development Special Zone, Second Eco Delta City, and Tri-port complex logistics district, the West Economic Belt is anticipated to be activated in earnest.
These changes are likely to have a positive impact on Busan's future economic growth.