Gimhae International Business City Development Plan Announced
The Hwamok-dong area in Gimhae City, Gyeongnam Province, will be developed into an international business city where port, airport, and railway converge. Gyeongnam Province Governor Park Wan-soo and Gimhae Mayor Hong Tae-yong officially announced the 'Gimhae International Business City Project,' which aims to develop the Hwamok-dong area, at the provincial government briefing room on the 7th.
This project had previously faced promotion difficulties due to differing government ministries and regulations, as building ancillary facilities required simultaneous approval from multiple ministries under inconsistent legal frameworks. Following Gyeongnam Province's persistent proposal for the enactment of a special law, the 'Special Act on Promotion of International Logistics Hubs' was passed by the National Assembly on March 12th, establishing the legal foundation for the project's advancement.
Gyeongnam Province announced plans to develop a massive international convention center, approximately 330,000 square meters (about 100,000 pyeong) in size—equivalent to about 50 soccer fields. The plan includes ancillary facilities such as luxury hotels and business shopping centers, aiming to foster the area as a business exchange hub for the Southeast region with global exhibitions and events held year-round.
In terms of the logistics industry, the core strategy is to establish a comprehensive logistics hub targeting the Northern Sea Route era. The project will pursue the attraction of Global Distribution Centers (GDC) and the creation of high-value international logistics complexes that combine manufacturing and processing. A wide-area transportation network will also be expanded, including a highway connecting Dong Gimhae IC to Jinhae New Port via Hwamok-dong, and a railway linking Jinyeong to the new Gadeokdo Airport. Furthermore, the plan includes nurturing new industries such as K-food, bio, and pharmaceuticals by leveraging cold chain infrastructure and attracting logistics AI and robotics cluster companies, including manufacturers of logistics robots, parts, and sensors.
Gyeongnam Province will also focus its administrative efforts on creating an environment that attracts investment. In collaboration with related organizations such as Gimhae City and Busan City, the province will pursue designation as the nation's first 'International Logistics Promotion Zone' and selection as a 'National Strategic Project.' It also aims to create an environment where domestic and international companies can freely conduct business and invest through designation as an Economic Free Zone or Free Trade Zone. Gimhae City has completed its basic conceptualization services for 2024, and feasibility studies and master plan establishment services are currently underway.
Gyeongnam Governor Park Wan-soo emphasized, "We will pour all of the province's capabilities into ensuring Gimhae powerfully leaps forward as the heart of South Korea's logistics, centered on the tri-port (port, airport, rail) that is being established." Gimhae Mayor Hong Tae-yong stated, "Together with Gyeongnam Province, we will do our utmost to develop the Hwamok-dong area of Gimhae City and the Jukdong-dong area of Gangseo-gu, Busan, into the largest international business city and global logistics hub in Northeast Asia, preparing for the next 100 years in the Northern Sea Route era, and advancing towards becoming a core city in the Busan-Ulsan-Gyeongnam region based on the tri-port."