Busan is good

Busan Takes a Leap Toward Becoming a Global Seafood Distribution Innovation Hub for the First Time in 50 Years as Construction Begins on the Busan Cooperative Fish Market Modernization Project

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□ Busan Metropolitan City (Mayor Park Heong-joon) announced that it will hold a groundbreaking ceremony tomorrow (the 19th) at 2:00 p.m. to officially mark the commencement of full-scale construction of the Busan Cooperative Fish Market Modernization Project (hereinafter referred to as the “modernization project”) after a long period of preparation.

○ The ceremony will be attended by approximately 300 people, including Mayor Park Heong-joon; Choi Hyun-ho, Director General for Fisheries Policy at the Ministry of Oceans and Fisheries; Jeong Yeon-song, CEO of the Busan Cooperative Fish Market; local National Assembly members; the Seo-gu District Head; city and district council members; the Chairman of the National Federation of Fisheries Cooperatives; heads of five fisheries cooperatives; heads of fisheries-related organizations; and local residents, signaling the official start of developing a future-oriented seafood distribution hub.

□ The ceremony will proceed with commemorative addresses by the Mayor and the CEO of the Busan Cooperative Fish Market, followed by congratulatory remarks from distinguished guests. A ceremonial touch-button event will officially mark the beginning of the Busan Cooperative Fish Market modernization project.

□ Since opening at its current location in 1973, the Busan Cooperative Fish Market has played a central role in Busan’s fisheries industry for over half a century. Through the modernization project, the market will improve aging facilities and unsanitary open-air auction environments, transition to an enclosed, low-temperature auction system, and introduce logistics automation systems such as automated sorting equipment.

○ The Busan Cooperative Fish Market modernization project involves the construction of a safe and advanced market facility with one basement level and five above-ground floors, at a total project cost of KRW 242.2 billion (KRW 165.5 billion in national funding, KRW 50.9 billion in city funding, and KRW 25.8 billion in self-financing), on a site with a total gross floor area of 61,971 square meters.

□ As the nation’s largest fresh fish auction market and a key national hub for seafood distribution, the Busan Cooperative Fish Market has faced growing calls for modernization over the past decades due to aging facilities, outdated logistics and sanitary conditions, and increasing demands for low-temperature management driven by climate change. This project is particularly significant as it represents the first full-scale reconstruction aimed at addressing these structural limitations.

○ To maintain auction operations, construction will be carried out in three phases over 47 months, primarily during off-peak seasons. Upon completion, the project is expected to bring transformative improvements that are difficult to compare with existing facilities in terms of maintaining seafood freshness, ensuring safety, and enhancing distribution efficiency. In addition, open spaces such as a relaxation-style observation lounge within the market and an outdoor seaside promenade will be newly created, improving convenience for market users.

□ Mayor Park Heong-joon remarked, “The commencement of construction for the modernization project is a historic moment that opens the future of Busan’s fisheries industry,” adding, “Busan Metropolitan City will take full responsibility so that Busan can be reborn as a global seafood distribution hub of the Republic of Korea, and so that the public and citizens can safely enjoy the gifts of clean seas with peace of mind.”