The relocation of the Ministry of Oceans and Fisheries to Busan is gaining momentum. It is expected that not only the main office of the Ministry but also its affiliated organizations and professionals in the shipping and logistics industries will move en masse to Busan within the year, leading to a rapid increase in labor demand in the city. As a result, interest in urban residential complexes that offer both proximity to workplaces and comprehensive living infrastructure is rising significantly.
The new office buildings for the Ministry have been confirmed as the IM Building and Hyupsung Tower in Dong-gu, Busan. Located in the central business district adjacent to Busanjin Station on Subway Line 1, these offices are likely to generate substantial real housing demand from public institution employees.
With the central government, Busan Metropolitan Council, and Busan City all actively preparing for the move, the relocation plan is progressing rapidly, and expectations for a rise in the value of the Busan area are also increasing.
In fact, President Lee Jaemyung has strongly pushed for the relocation within the year, instructing a swift move of the Ministry of Oceans and Fisheries from his very first cabinet meeting after taking office. The Busan Metropolitan Council has also been urging for the simultaneous relocation of marine-related organizations such as HMM, with full support from local governments. In line with this, Busan City is offering large-scale settlement support measures, including generous relocation incentives such as settlement grants and childcare and childbirth support payments, to establish a solid foundation for the Ministry’s early settlement.
This relocation is expected to serve as a turning point that not only involves the physical move of a government ministry but also strengthens Busan’s role as a hub for the marine industry and acts as a catalyst for substantial inflows of demand. Alongside the relocation of public institutions, the migration of workers from related industries is further increasing attention on new apartments in urban areas.
A local real estate expert explained, “If not only the main office but also affiliated organizations and shipping and logistics industry professionals sequentially settle in Busan, there is a high possibility that real demand for residential housing in the city center will surge in a short period. In particular, locations that are close to the city center and have transportation, living infrastructure, and a favorable residential environment will attract both real demand and investment demand, so naturally, new complexes that allow for quick occupancy are drawing concentrated interest.”
Amid this trend, 'Gaya Station Lotte Castle Skyel' is emerging as a representative beneficiary complex for those seeking proximity to both work and home.
This complex, located in Gayadong, Busanjin-gu, Busan, is an ultra-high-rise mixed-use residential complex consisting of four buildings from four basement floors to 43 above-ground floors. It comprises a total of 805 units, including 725 apartments (exclusive areas of 59 to 84 square meters) and 80 officetel units (exclusive areas of 52 to 69 square meters). The expected move-in date is January 2026, which coincides with the Ministry’s full-scale relocation and settlement, making an influx of genuine demand likely.
In particular, the complex is a prime location directly in front of Gaya Station on Busan Subway Line 2, allowing for quick access to Busanjin Station, the planned site for the Ministry. It is considered an ideal complex for Ministry officials, staff of affiliated organizations, researchers, and private sector employees who seek proximity between home and work. In addition, it boasts excellent connectivity to major business districts in Busan, such as Munhyeon Financial District, Gwangalli, and Haeundae.
The living infrastructure is also excellent. Seomyeon is just two subway stops away, and residents can easily access key urban amenities such as Lotte Department Store, Jeonpo Cafe Street, Seomyeon Medical Street, and Busan Citizens Park. Large shopping facilities like E-Mart Traders and Lotte Mart are also nearby, enhancing daily convenience.
The educational environment is robust as well. The complex is adjacent to Busan Global Village, which houses an English library and a mathematics culture center, and is surrounded by a range of educational institutions from elementary to high schools and even universities, attracting strong interest from genuine homebuyers concerned about their children’s education.
The product configuration is also focused on maximizing real user satisfaction. The initial contract deposit is set at a fixed 10 million won, with full interest-free installment payments, free balcony expansion, a system air conditioner in every unit, a front entrance sliding door, and two built-in wardrobes, all provided at no additional cost, significantly reducing the initial financial burden.
The model home is located in U-dong, Haeundae-gu, Busan.
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