Busan City and Related Agencies Sign Business Agreement for Development Project of Former Beomcheon-dong Railroad Vehicle Maintenance Site

MOU Signing at City Hall at 3 PM on the 14th: Busan City, Korea Railroad Corporation, and Busanjin-gu

Mayor Park Hyung-jun: "A Project to Open the Next 100 Years, We Will Spare No Cooperation and Support"

On the 14th at 3 PM, Busan City will sign a Memorandum of Understanding (MOU) for the ‘Beomcheon-dong Railway Vehicle Maintenance Depot Relocation Site Development Project’ at the City Hall International Protocol Room with Korea Railroad Corporation (President Han Moon-hee) and Busanjin-gu District Office (District Mayor Kim Young-wook).

Perspective view of the redevelopment project site for the relocation of Beomcheon-dong Railroad Vehicle Maintenance Depot.

The ‘Beomcheon-dong Railway Vehicle Maintenance Depot Relocation Site Development Project’ involves relocating the Beomcheon-dong Railway Vehicle Maintenance Depot to Songjeong-dong, Gangseo-gu, near Busan New Port Station, and developing approximately 240,000㎡ of the former site into an urban innovation park space that integrates the 4th industrial revolution, cultural contents, and other future growth engines for Busan.

Since passing the preliminary feasibility study for public institutions in June 2020, the depot was relocated in August last year, and a basic development plan for the current site and surrounding areas was established.

Currently, related procedures such as strategic environmental impact assessments are underway for the Songjeong-dong area near Busan New Port Station in Gangseo-gu, the relocation site, with the goal of announcing the basic plan in the first half of next year.

This MOU was prepared to promise fundamental cooperation among related organizations necessary for the prompt promotion of the ‘Beomcheon-dong Railway Vehicle Maintenance Depot Relocation Site Development Project.’

At the signing ceremony, Mayor Park Hyung-joon, Korea Railroad Corporation President Han Moon-hee, and Busanjin-gu District Mayor Kim Young-wook are scheduled to attend and sign the agreement.

Upon signing, ▲ Korea Railroad Corporation will oversee all aspects of the project, including public recruitment and selection of the project implementer, and strive for early execution of the development project ▲ Busan City and Busanjin-gu will cooperate and support various administrative tasks such as permits and approvals necessary for project implementation ▲ the parties will mutually cooperate in forming and operating a working-level consultative body to review and discuss detailed matters of the development project.

In particular, the three organizations are expected to accelerate the project’s progress by concretely discussing detailed matters at each project stage, such as preparing the project implementer recruitment plan, within the working-level consultative body to be formed after this agreement.

This project’s relocation site development costs will be covered by the revenue generated from the development, so prompt administrative procedures are necessary. As the owner of most of the land, Korea Railroad Corporation will act as the project implementer and promote overall project matters, while Busan City and Busanjin-gu will actively support gathering local residents’ opinions and the swift execution of administrative procedures.

Location map of the former site of Beomcheon-dong Railroad Vehicle Maintenance Unit redevelopment project.

Mayor Park Hyung-joon stated, “The Beomcheon-dong Railway Vehicle Maintenance Depot Relocation Site Development Project, which will create a valuable urban innovation space to open Busan’s next 100 years, has long been a key issue receiving much interest and expectation from local residents and citizens.” He added, “Starting with today’s agreement, I hope the related organizations will communicate closely and swiftly promote the project, and our city will spare no effort in active cooperation and support to ensure its successful implementation.”