Western Busan's 3.7 Trillion Won 'New Town Puzzle' Completed... Busan Urban Corporation Launches Full-Scale Daejeo District Project
Jointly Developed with LH,
2.38 km² Public Housing District
The 'Busan Daejeo Public Housing District,' which is being jointly developed by Busan Urban Corporation and Korea Land & Housing Corporation (LH), has entered a full-scale development phase following the first amendment of its district designation and the approval of the district plan.
On June 30, Busan Urban Corporation announced that the district plan for the project had been approved, adding that it will accelerate efforts to establish balanced development in western Busan and to provide a stable residential foundation. Busan Urban Corporation is participating in this project with a 20% stake.
The Daejeo District, which will be developed across Daejeo 1-dong and Daejeo 2-dong in Gangseo-gu, Busan, covers a total area of approximately 2.38 million square meters (about 720,000 pyeong). The project is a large-scale development with a total investment of around 3.7 trillion won. The planned population is 41,339 people, and a total of 17,973 housing units will be supplied.
In terms of location, it occupies a key development axis in western Busan. The Daejeo District is situated along a growth corridor that connects Gangseo, Eco Delta, and the new Gadeok Airport. It is well-connected to major transportation networks, including National Route 14, the Jungang Expressway, Subway Line 3, and the Busan-Gimhae Light Rail Transit.
The development direction is set beyond a simple residential complex, aiming to create a mixed-use city with self-sustaining functions. Based on an industrial-residential convergence structure linked with the Research and Development Special Zone, the city model seeks to integrate both jobs and housing. At the same time, a green network utilizing rivers and green spaces will be established to build a resilient city capable of responding to flood risks.
Busan Urban Corporation expects this project to both meet the residential demand in western Busan and contribute to restructuring the urban landscape by integrating with the region's growth axis.
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Shin Changho, President of Busan Urban Corporation, stated, "The Busan Daejeo District will generate synergy with the Research and Development Special Zone and develop into the core residential hub and self-sustaining city of western Busan. We will work closely with LH to create a safe and pleasant city harmonized with parks and green spaces."
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