Public Call for Development Project Operators for the Long-Delayed Ungcheon-Namsan District in Changwon Begins on the 5th
Swift Project Promotion After Selecting Operators with Expertise and Accountability
The Busanjin-Hae Economic Free Zone Authority (headed by Park Sungho) has announced a public call for development project operators in order to normalize the development of the Ungcheon-Namsan District, which has seen long-term delays due to the absence of a project operator.
This project targets approximately 660,000 square meters in Jedok-dong and Nammun-dong, Jinhae-gu, Changwon-si. In 2019, a development plan centered on residential land was established in accordance with a notice from the Ministry of Trade, Industry and Energy. However, the project has experienced prolonged delays due to the cancellation of the designation of the project operator, among other reasons.
Although demand for foreign residential areas is expected to surge in the future due to the development of the Jinhae New Port and the expansion of the economic free zone and port hinterland complexes, there are currently no prominent high-end residential districts in the entire Gyeongnam region that can meet this demand.
In response, the Authority plans to develop the Ungcheon-Namsan District not merely as a simple residential area to accommodate foreign residents, but as a "high-quality international residential complex city" with an international living environment.
To this end, the Authority will solicit creative proposals for the district's name that reflect the development objectives of the economic free zone and future growth. This is expected to strengthen the international standing of the Busanjin-Hae Economic Free Zone, attract investor interest, and enhance the district's desirability, thereby laying the foundation for a competitive district.
Park Sungho, head of the Authority, stated, "We will preserve the unique identity of the region and create high-quality living conditions by promoting this public call, transforming the Ungcheon-Namsan District into a representative high-quality international residential complex city within the economic free zone." He added, "Just as we normalized the long-stalled Ungdong District (District 1) by designating Gyeongnam Development Corporation as the project operator in March 2025, we will promptly select a project operator with both expertise and accountability to lay the groundwork for normalizing the long-delayed Ungcheon-Namsan District project."
Busanjin-Hae Economic Free Zone Authority
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