'Estimated at 300 Billion Won' Incheon Camp Market Park Project Selected for Feasibility Study

The Incheon city government announced on August 27 that the park development project for the former Bupyeong US military base (Camp Market) has been selected as a target for a feasibility study by the Ministry of the Interior and Safety. Under the Local Finance Act, a feasibility study is a mandatory administrative procedure for development projects with a total project cost of 50 billion won or more.

The city government had previously collected public opinion through citizen forums and other channels, established a master plan for the "Sinchon Cultural Park" that incorporates climate and environmental considerations, historical and cultural elements, and urban symbolism, and then applied for the feasibility study. The park is planned to cover 440,000 square meters, with an estimated development cost exceeding 300 billion won.

The feasibility study is scheduled to proceed for seven months after the financial business agreement is signed next month, and the development project will be carried out in stages following a central investment review next year.

Camp Market Park Project Bird's-eye View. Incheon City

The Camp Market site in Bupyeong District, Incheon, was originally home to the Japanese Army's munitions factory "Chobyungchang" in 1939. After Korea's liberation in 1945, the US military was stationed there, and civilian access was restricted for 84 years. Following a bilateral agreement between South Korea and the United States, 210,000 square meters (Zones A and B) out of the total 440,000 square meters were returned in December 2019, and the remaining 230,000 square meters (Zone D) were officially returned from the US Forces Korea to the Ministry of National Defense of Korea in December 2023.

An official from the Incheon city government stated, "Although there are remaining administrative procedures, such as negotiating the use of the nearby Booyoung Park site and remediating soil contamination in Camp Market Zone D, we expect that this feasibility study will serve as a driving force for the swift implementation of the project to create Sinchon Cultural Park."