Haeundae

News

News & Notices

Tourism Investment : New Millennium for Busan starts in East

2007-06-19 2469  Views
Contents

New Millennium for Busan starts in East



The East Busan Tourist Complex


 


Busan is changing explosively. Since Busan came into existence, it now shows the fastest growth rate. Key development projects like the New Busan Port, the North Port, New Gangseo City, industrial complexes and outside beltways, are being planned or in progress. Busan’s development map is moving to the East District. As greenbelt areas and the Mountain Natural Preservation Zone were recently released, the barriers to development were removed and new development plans are designed. The most important project is the creation of the East Busan Tourist Complex, one of the third millennium projects operating in Busan. It is a project to construct an international four-season destination for stays at Gijang-eup, Gijang-gun (3,638,310 m2) with favorable natural and geographical conditions.


 


In the East Busan Tourist Complex Project that was included in the South Coast Tourism Belt Project implemented by the Ministry of Culture & Tourism in 2000, a total of 2,820 billion won will be invested. According to the plan, the expansion of employment will account for more than 0.5 million per year and the production amount and the added value amount will account for 5,600 billion won and 4,500 billion won respectively.  It will bring about not only the economic revitalization but also the improvement in quality of life and Busan will grow into an international tourist city. Busan future economic growth depends most on this project.

 



The concept of the East Busan Tourist Complex is a ‘Wellness Resort’ to get a better quality of life through relaxation and its catch phase is ‘Upgrade Soul, Mind & Body’. A space will be divided into three sections : a ‘Wellness Zone’, a ‘Health & Beauty Zone’ and an ‘Entertainment Zone’. Facilities will contain an amusement park, a hotel, a condominium, a spa park, a shopping mall and a golf course, but more detailed land use classifications and facility arrangement plans will be confirmed after agreeing with private enterprises participating in the project. 


 

For the development of the tourist complex, the Busan Metropolitan Corporation, a project company will construct a site as well as infrastructures like water, sewage, an entrance street and a waste disposal site through public capital investment amounting to 154.2 billion won. Other facilities will be established by drawing in private funds.


 

The City of Busan deliberates both the point of view of private investors and tourists for the purpose of a desirable tourist complex. From private investors’ point of view, the feasibility of business opportunities must be secured. Basic strategies are to attract a film theme park that increases international awareness and visitor-gathering capacity and to create its ripple effect on other faculties. In order to promote private investment, the city will select experienced domestic and foreign property developers, will induce to form a consortium for a stable construction and the dispersion of risks and will alleviate the burden of purchasing a site by a long-term installment basis. The city will also offer administrative and financial support like a free site lease, special tax privileges and infrastructure provision. In Oct.~Nov. 2006, the city took part in the World Property & Investment Expo held in Munich, Germany and in the Asia Pacific Tourism International Fair in Seoul, and concentrated on publicity activities for luring private investment. After notifying project approval in Apr. 2006, negotiations on investment are constantly discussed with local and international companies such as MGM, Morgan Stanley and PWC. Proposals from companies suggesting positive terms were reviewed and discussion and negotiation are continued. According to the present schedule, viable results are supposed to be yielded in the first half of 2007 and a special purpose company is supposed to be established in the second half of 2007.


 

Tourists’ priorities are to see and to enjoy. They also place importance on t ransportation accessibility. The East Busan Tourist Complex is the seashore boasting abundant natural resources, close to Korea’s best beach Haeundae and the Haeundae Street crowded with billions of people. The tourist complex will consist of a film theme park, a shopping mall and a spa park. Easily accessible to Busan, the construction of a 8.49 km scenic coastline and an entrance street, a double-track electrification of the Donghae Nambu Line between Pohang and Ulsan, the construction of an expressway between Busan and Ulsan and the addition of connected lamps and the construction of a connected street between Beinyoung-ro and Songjeong are in operation or in planning.




 

The City of Busan anticipates the East Busan Tourist Complex will become a new power in development as a hub for an international tourist city in Northeast Asia together with Haeundae and Centum City.


 


Mini Interview


Chang-Ho Shin

Director, Tourism Complex Development Team,

Busan Metropolitan City


 

 

 

 

1. What is the most competitive factor for the East Busan Tourist Complex comparing with other tourists’ attractions?


 

▶ The East Busan Tourist Complex aims at a ‘Wellness Resort’. ‘wellness’ means the state of being healthy in mind, emotion and body or an approach to healthcare that emphasizes preventing illness and prolonging life. The ‘East Busan Wellness Resort’ pursues not only health but also sports & leisure.


 

▶ The East Busan Tourist Complex is located near the beach with attractive natural environment, belongs to a big city having a population of 40 billion, reaches a huge consumer market where 100 billion people living, including Ulsan, Gimhae and Jinhae, by land transportation in an hour and is equipped withintegrated accessible systems through an expressway, a port, a railroad and KTX. Since there are no destinations for stays in the neighborhood, the East Busan Tourist Complex can satisfy elaborated consumer tastes. Internationally, the tourist complex is connected to major cities in China and Japan within three hours. 

 


2. Residents are anxious about compensation for land after being known to the public about community de velopment. Do you have any possible solutions to relieve them?


 

▶ First of all, I am very sorry for those who must leave their homes or must change their occupations due to this development.  Nevertheless, I believe they would understand all inconvenience this may cause, otherwise Busan’s population might be gradually reduced and companies might be moved to another regions as a result of a lack of industrial land, thereby decreasing employment and income. I sincerely appreciate their sacrifice to help Busan’s economy grow.


 

▶ Buildings having the right to compensation are a total of 7,501 and compensation recipients are 1,700. The outlines of compensation plans were announced last September and appraisal for compensation could be completed thanks to residents’ cooperation. During the first half of this year, compensation amounts will be notified negotiations over compensation will be started. For landholders and residents, we will prepare a 100,000 m2 housing site near the tourist complex as well as will compensate them for land, buildings, trade rights, agriculture, graves, farm machinery and fishing rights.  Support measurements for their livelihood and welfare like preferential hiring policies toward them are considered and we look up similar cases. We will do for the sake of both the East Busan Tourist Complex and residents by continuously talking with them and respecting their opinions.


 


3. The concept of the tourist complex is ‘wellness’ to build a healthier life.  How do you cope with environmental disruption?


 

▶ The East Busan Tourist Complex wants to become a ‘Wellness Resort’ that provides relaxation as well as health. To successfully achieve its goals, the environment must be harmonized with nature and thus, our land usage plans reflect environmental preservation. Green spaces account for 43% of total land area, which is 1,565,895m2 including 888,162m2 original preservation and 677,733m2 constructed green spaces out of a total area of 3,638,310m2.  After the City of Busan applied for the development project, when the Ministry of Construction & Transportation removed greenbelt reserves, inclined land of the first and second class was excluded from the reserved land through an agreement with the Office of Forestry and Environment, and therefore total current area were confirmed. Seeing a land usage map, you are able to identify the East Busan Tourist Complex surrounded by nature. I promise we will make every effort to build an environmental-friendly tourist complex cherishing nature and the ecosystem during development and management process.

 

The source of news : Tourism Scope