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Breakthrough in a 10-Year-Long Pending Project: “Busan Cooperative Fish Market Modernization Project” Gains Momentum with Construction Contract Signed

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it has officially signed a construction contract today (November 10) for the Busan Cooperative Fish Market Modernization Project, the largest marine product auction market in Korea, thereby beginning full-scale implementation.

In July, HJ Heavy Industries Consortium was selected as the preferred bidder through a design-build proposal tender, and on October 17 submitted its final detailed design to the city. Through the Public Procurement Service, the city officially signed the construction contract today (November 10) with the HJ Heavy Industries Consortium for the Busan Cooperative Fish Market Modernization Project.

This contract marks a decisive turning point for a long-awaited project that has been delayed for more than ten years. After the contract, the project will proceed through the necessary administrative and approval procedures, with full-scale construction scheduled to begin by the end of this year and completion targeted for 2029.

The major cause of delay—differences of opinion between the city and the market—was resolved through a Design Improvement Consultative Council launched in August. The city reflected the market’s key requests, such as widening the auction floor and adjusting column spacing, in the final design, which will maximize operational efficiency and pave the way for groundbreaking within the year.

The council, chaired by the Director General of the Bureau of Maritime Affairs, Fisheries and Agriculture, included the Head of the Construction Headquarters, the CEO of the Busan Cooperative Fish Market Joint Business Corporation, the Director of the Distribution Policy Division of the Ministry of Oceans and Fisheries, the National Federation of Fisheries Cooperatives and five local fisheries cooperatives, and HJ Heavy Industries Consortium. From August 14 to September 4, the council held weekly meetings to reach a final consensus.

Since its opening in 1973 at its current location, the Busan Cooperative Fish Market has played a central role in Busan’s fisheries industry for half a century. Through this modernization project, the market will replace its outdated and unsanitary open-type auction structure with a closed-type refrigerated auction market, equipped with automated sorting and logistics systems.

The modernization project will cover a site area of 60,198.1㎡ with a total floor area of 61,971㎡. With a total budget of KRW 241.2 billion (KRW 165.5 billion from the national government, KRW 49.9 billion from the city, and KRW 25.8 billion from the market), the project will construct a safe, advanced market complex with one underground floor and five above-ground floors.

During construction, the auction floor area will temporarily decrease. To maintain auction operations, the project will minimize work during the peak fishing season (October–March) and conduct construction mainly during the off-season in three stages:

• ●Phase 1: Right-side main building and right-side breakwater.

• ●Phase 2: Office building and central auction hall.

• ●Phase 3: Left-side main building and left-side breakwater.

Even during construction, 60–70% of the auction floor will remain operational, and temporary facilities will be installed in vacant areas within the site to ensure continuous auction activities.

Mayor Park Heong-joon said, “The signing of this construction contract marks a historic milestone for the future of Busan’s fisheries industry. We will steadfastly push forward the modernization project to make the Busan Cooperative Fish Market the leading hub of fisheries distribution innovation in Korea and a global seafood distribution center.”