Expansion of Total Greenbelt Release
42.03 Million Square Meters of Regional Land Eligible
The release of Greenbelt (GB) areas included in various development projects in regions such as Busan, Gwangju, and Daejeon will become easier. As GBs have acted as obstacles to regional development projects, the government has stepped in. The total area eligible for release has also been expanded for the first time in 17 years. Along with this, administrative procedures will be supported to expedite large-scale projects such as roads and power facilities currently underway in these regions. The government has rolled up its sleeves to ensure that investment projects worth up to 50 trillion won centered on these regions proceed smoothly.
On the 25th, the government held a National Affairs and Economic Ministers' Meeting chaired by Acting President and Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok, where it announced measures to revitalize regional investment.
At the meeting, the results of the selection of national and regional strategic projects, which had been promoted since last year, were finalized and submitted to the Cabinet meeting for approval. Projects currently underway or planned, including the Busan 2nd Eco Delta City project worth over 11 trillion won, the Daejeon Nano Semiconductor National Industrial Complex, and the Busan Haeundae Advanced Science Park, were selected as national and regional strategic projects.
Massive GB Releases... Total Release Volume Expanded
Projects selected under this initiative can develop without being subject to the total GB release volume limit. In principle, GB release is allowed on the condition that substitute sites are designated on environmental evaluation grade 1-2 maps where GB release is normally prohibited. After the Ministry of Land, Infrastructure and Transport revised related guidelines in April last year, local governments applied, and the Central Urban Planning Committee reviewed and selected these projects on this day.
By region, Changwon area has the most with 4 projects, followed by Busan, Ulsan, and Gwangju regions with 3 projects each. Daegu and Daejeon have one project each, totaling 15 projects selected. Acting President Choi said, "We are expanding the total GB area that can be released for the first time in 17 years," adding, "Through this, we will actively support various national and regional strategic projects such as national general industrial complexes, logistics complexes, and urban development projects."
The land area designated as GB in six regions amounts to 42.03 million square meters. The government estimates that the first-phase investment effect (development project cost) of the 15 projects is about 27.8 trillion won. After consultations with local governments and related agencies and preliminary feasibility studies, GB release is expected to be possible sequentially from the first half of next year at the earliest.
Additionally, projects currently underway in the regions that can produce concrete results in the first quarter of this year were also selected. The Taean-Anseong Expressway, Sinan Offshore Wind Power Cluster Complex, and Geoje Tourism Complex will have their eligibility investigations, evaluation procedures, and military facility protection zone release reviews deliberated and decided within next month. The government expects an investment effect of up to 49.5 trillion won from these decisions. Furthermore, an autonomous regulation innovation zone will be introduced in rural areas, and regional investment support tasks feasible in the first quarter of this year were discussed at the meeting.
Location of regions selected for national and regional strategic projects. Provided by the Ministry of Land, Infrastructure and Transport
Busan’s GB Eligible for Release Increases from 860,000㎡ to 16.33 million㎡
Before being selected as a strategic project, the GB area eligible for release in Busan was only about 860,000 square meters, making new industrial complex development impossible. The 2nd Eco Delta City, promoted by Korea Water Resources Corporation and Busan Urban Development Corporation in Gangseo-gu, Busan, is a long-term project scheduled from this year until 2037, encompassing residential, commercial, office, industrial, and logistics facilities. The nearby GB area amounts to 10.42 million square meters.
Also selected together is the Northeast Asia logistics platform project within the Busan Triport logistics district, which is adjacent to the area where a logistics complex is being developed. In Haeundae, Busan, the Advanced Science Park, an urban development project for station-area development and advanced industrial complex creation, will also be actively promoted starting this year. The GB land involved in these three projects totals 16.33 million cubic meters.
In Gwangju’s Gwangsan-gu, a national industrial complex project for eco-friendly automobile and parts businesses has been underway since 2023, with an investment of 1.2 trillion won targeted for completion by 2031. Gwangju city proposed designating shared land in Buk-gu as substitute GB land to develop the existing GB area into an industrial complex.
Additionally, in Jangseong, Jeonnam, a general industrial complex project linked to the existing Advanced 3 District, and in Damyang, Jeonnam, a general industrial complex project to attract future car-related materials, parts, and equipment companies were selected. These projects, which started in 2023, had faced difficulties due to GB release restrictions but are expected to accelerate now that they have been selected as strategic projects.
In Daegu, the relocation project of the agricultural and marine products wholesale market in Dalseong was selected, and in Daejeon, a national industrial complex project to attract companies and institutions in the nano semiconductor and aerospace fields was chosen. These projects, initiated since 2022, are expected to be completed within the next 5 to 6 years. In Ulsan, the Hydrogen Convergence Valley (Nam-gu), the U-Valley planned as a secondary battery specialized complex, and general industrial complex projects linked to eco-friendly energy and automobile industries in Seongan and Yaksan will be promoted mainly by Ulsan Urban Corporation.
In Changwon, projects selected include the Jinhae New Port hinterland logistics complex, the urban development project linked to industry-academia-research complexes called the Urban Convergence Technology Complex, the Masan Station area development project, and a private joint project (Jinyeong General Industrial Complex) to attract mobility, hydrogen, and robotics companies. Most of these projects have recently started or will start soon, and will sequentially proceed through procedures such as prior consultation with the Ministry of Land, Infrastructure and Transport and review by the Central Urban Planning Committee for GB release.
The government explained, "If adjustments to project sites or plan supplements are necessary, we will promptly proceed with procedures by supporting consulting linked with specialized institutions such as the Korea Research Institute for Human Settlements."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
