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Busan Metropolitan City Selects Preferred Bidder for the Detailed Design and Technical Proposal Tender of the “Busan Cooperative Fish Market Modernization Project”!

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Busan Metropolitan City’s Construction Headquarters announced yesterday (July 16) that the consortium led by HJ Heavy Industries Co., Ltd. (hereinafter referred to as the “consortium”) was selected as the preferred bidder for the detailed design and technical proposal tender for the “Busan Cooperative Fish Market Modernization Project,” which aims to modernize the aging facilities of the cooperative fish market.

Participating companies in the consortium: HJ Heavy Industries Co., Ltd., Kyeryong Construction Industrial Co., Ltd., and Dongwon Development Co., Ltd.

The “Busan Cooperative Fish Market Modernization Project” (hereinafter referred to as the “modernization project”) involves constructing a new large-scale facility with a total project cost of KRW 241.2 billion and a total floor area of 61,971㎡ (1 basement floor to 5 above-ground floors) on a site in Nambumin-dong, Seo-gu.

Since its opening in 1963, the Busan Cooperative Fish Market has grown into the largest seafood wholesale market in the country. However, due to aging infrastructure and unhygienic auction conditions, calls for improvement have continued to rise.

※ Busan Cooperative Fish Market Modernization Project

• ●Location: 202 Chungmu-daero, Seo-gu

• ●Scale: Site area of 60,198.1㎡, total floor area of 61,971㎡ (1 basement floor, 5 above-ground floors), transportation facilities (port facilities)

• ●Purpose: Auctions, distribution, logistics automation, etc.

• ●Total project cost: KRW 241.2 billion (KRW 165.5 billion from national funding, KRW 49.9 billion from the city, KRW 25.8 billion private contribution)

With the selection of the preferred bidder, the modernization project is expected to gain full momentum. Through the modernization of the aging cooperative fish market, the city aims to enhance the competitiveness of the seafood industry and establish the facility as a symbolic site for tourism and culture.

The modernization project was initially launched in September 2017 with the commencement of design services. Although a tender was announced in October last year (2024), it was unsuccessful. In response, the city revised the project to allow bidders to propose construction durations up to 50% longer than the original 1,187-day period and re-announced the tender in January this year (2025).

The selected consortium, HJ Heavy Industries, proposed a construction period of 47 months, with the groundbreaking scheduled for December 2025 and completion anticipated around October 2029.

Three major domestic consortia—Daebo Construction Co., Ltd., HJ Heavy Industries Co., Ltd., and Haneol ENC Co., Ltd.—competed intensely in this tender.

The “detailed design and technical proposal tender” is a bidding process in which the bidder reviews the detailed design documents provided by the contracting authority and submits a technical proposal addressing areas such as construction method improvements, construction management strategies, duration reduction, and cost savings. This method is typically used for large-scale projects that require advanced technology and high levels of symbolism and artistry.

In June of this year (2025), Busan Metropolitan City held a technical review committee to evaluate the proposals and submitted the results to the Public Procurement Service in July. The Public Procurement Service conducted a comprehensive review of the submissions and finalized the preferred bidder on July 16. The city plans to supplement and reflect the proposed technical elements before concluding the contract.

Meanwhile, the city plans to carry out the construction in phases to minimize disruptions to the business district and damages to workers caused by the temporary suspension of auction operations.

The Busan Cooperative Fish Market handles 80% of the nation's mackerel distribution, making it the largest seafood wholesale market in Korea. To minimize potential disruptions to business operations and reduce the impact on workers during the construction process, the city will work closely with the cooperative fish market to implement phased construction.

Notably, the project will be executed in three phases to ensure that market operations can continue during the construction period. Portions of the existing structure will be demolished and rebuilt sequentially.

Kim Hyo-sook, Director General of Busan’s Construction Headquarters, stated, “With the selection of the preferred bidder for the detailed design and technical proposal tender of the Busan Cooperative Fish Market, we will do our utmost to ensure the successful implementation of this project, which represents the living history of Korea’s seafood industry.”
She added, “We will maintain close communication and cooperation with the actual users—the fish market stakeholders—to drive the project forward successfully.”