Comprehensive Plan on North Harbor Redevelopment Reported

A report conference on the comprehensive redevelopment project of the North Harbor of Busan Port was held at the Busan Port Authority (BPA) on Dec 27, 2006. The meeting was attended by 150 representatives from the political and business worlds including President Roh, Moo-Hyun, Minister for Maritime affairs and Fisheries Kim, Sung-Jin, and members of the National Assembly.

At the report on the North Harbor Redevelopment, Minister Kim said that the Ministry plans to develop the North Harbor of the Port of Busan as a landmark, equivalent to Sydney in Australia, Palm Islands in Dubai, the United Arab Emirates (UAE), which will display the future and aspirations of Korea.

The report also included a plan to connect the city center through utilization of railway areas adjacent to the North Harbor and a scheme to secure substitute piers upon reconstruction of the conventional wharfs. Following this, President Roh participated in a luncheon held at the Lotte Hotel, where 300 figures from local businesses and civil groups attended. During lunch, the President gathered a variety of suggestions and opinions on schemes for Busan Regional Development.

As a large-scale national project requiring a total of KRW 9.3 trillion from 2008 to 2020, the North Harbor Redevelopment targets pier 1 to 4 and a central pier of the North Harbor, totaling 430,000 pyeong (1,420,000 square meters). This project is estimated to create KRW 32 trillion in the industrial sector as well as 120,000 jobs.