High-Tech Complex District Covering 1.74 Million Square Meters
Scheduled for Completion in 2030
Busan Metropolitan Corporation (BMC, President Shin Changho) announced on the 26th that the implementation plan for the "Busan R&D Special Zone" development project, which is being promoted jointly with Korea Land and Housing Corporation, has been approved and officially announced, thereby initiating the project in earnest.
The "Busan R&D Special Zone" project aims to create a high-tech complex district equipped with research and development (R&D), advanced industries, and exhibition/convention functions on approximately 1,744,114 square meters in the Daejeo-dong area of Gangseo-gu, Busan. As a joint developer responsible for 35% of the entire project, BMC plans to actively contribute to the innovation of the regional industrial structure and the creation of future growth engines.
Since the announcement of the special zone development plan in December 2023, the implementation plan has been approved after several administrative procedures. Together with Korea Land and Housing Corporation, BMC will steadily proceed with compensation and detailed design processes, aiming to begin construction in 2026 and complete the project by 2030.
Busan Metropolitan Government and BMC expect that this development will induce approximately 366.3 billion KRW in production and create about 3,481 jobs. They will strive to establish an innovative growth ecosystem in western Busan by ▲ promoting the commercialization of local R&D achievements ▲ revitalizing technology-based startups ▲ creating future-oriented jobs.
Shin Changho, President of Busan Metropolitan Corporation, stated, "The Busan R&D Special Zone will become a strategic hub for fostering future-oriented high-tech industries," and added, "As a regional public developer, BMC will do its utmost to build the foundation for balanced regional development and future strategic industries through the R&D Special Zone project in cooperation with Busan Metropolitan Government, LH, and others."
Busan Urban Corporation
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