Busan Urban Corporation Begins Construction on Section 2 of Phase 1 of Centum 2 District

Entering Full-Scale Operations
Accelerating the Establishment of Busan's Future Growth Industrial Base

Busan Urban Corporation (BMC, President Shin Changho) will officially begin construction on Section 2 of Phase 1 of the Centum 2 District High-Tech Industrial Complex on November 20, 2025.

The area for Section 2 of Phase 1, which is now set to begin construction, consists of various facilities, including approximately 20 flower shops, Seyang Logistics (CY, about 27,500 square meters), a freight parking lot (about 16,500 square meters), and Seokdae Village. The start of construction had been delayed due to compensation and relocation issues.

However, with the completion of compensation for Seyang Logistics in September, the confirmation of the relocation site for the International Logistics i52 Block, and the relocation of the majority of Seokdae Village residents, the necessary conditions have been met to commence full-scale construction.

Section 2 of Phase 1 will be constructed by Baeksan Construction, a local company in Busan, along with two other firms. The construction period is scheduled until August 2028. The project will focus on land preparation and infrastructure development, and this groundbreaking is expected to serve as a turning point to accelerate the overall progress of Phase 1.

Currently, Section 1 of Phase 1, which began construction in November 2023, is proceeding with the relocation of four parking lots within the project site, demolition of the Seokdae Village relocation section, cultural heritage excavation, and contaminated soil remediation. The current progress rate is about 10%.

The relocation project for the Pungsan Plant in Phase 2 is underway, with Pungsan submitting a letter of investment intent to Busan City in May this year, followed by the approval of the industrial complex plan designation in July. The goal is to complete the relocation by 2030.

In addition, for Phase 3, the relocation project for the Banyeo Agricultural and Marine Products Wholesale Market, Busan City completed the basic plan (covering approximately 445,000 square meters in the Anpyeong area of Gijang) in April this year, and is currently proceeding with administrative procedures such as lifting the green belt designation.

Shin Changho, President of Busan Urban Corporation, stated, "The groundbreaking for Section 2 of Phase 1 is a significant milestone that marks the Centum 2 District development project entering full swing. We will push forward with the project at a rapid pace to help establish a new industrial base for Busan's future growth, create jobs for young people, and vitalize the local economy."