An air view of the development of Busan North Port. (Photos: BPA)

President Nam Ki-chan of Busan Port Authority.

The first phase of a project to redevelop Busan North Port into a premier cruise destination is progressing well as planned, Busan Port Authority (BPA) said.

The rate of progress of the first phase project stood at 84.5 percent as of the end of June, and it is expected to rise to 95 percent by the end of this year.

Busan North Port is undergoing one of the biggest redevelop projects, designed to make the harbor area into a global maritime tourism destination.

Busan North Port is reborn as a premier cruise destination in which business and pleasure will coexist.

Busan North Port, connecting the Pacific and Eurasia, will brim with international business and high-tech port features will harmonize to allow the renewal of Busan North Port.

The first phase redevelopment project is expected to spur the renewal of Busan’s old downtown areas.

BPA said it is conducting a thorough project management to complete infrastructure facilities by 2022 as targeted, which will change the face of the existing port facilities.

The first phase of the Busan North Port redevelopment project, which will get under way between 2008 and 2022, will cost 2,422.1 billion won.

The first phase involves the Pier 1 through 4, a central pier and a passenger pier. It is designed to create 1.53 million sq. meters – 1.11 million sq. meters in a ground area and 420,000 sq. meters in maritime area.

A bird’s eye-vew of the first phase of the Busan North Port redevelopment project.

The central government is responsible for shore protection works and underground car passages while BPA is charged with creating sites. The Busan Metropolitan City government is working on the construction of an opera house.

Half of the 22 tasks of the first phase project have been finished. The remaining 12 tasks gets under way. Among the finished tasks are breakwater, shore protection, deck, parking lots and other facilities.

The reclamation of the areas, except Pier 1 and 2, has been completed. Out of the reclaimed area, covering 340,000- sq. meter, 160,000 sq. meter or about 47 percent has been sold.

The rate of progress on infrastructure facilities, except an opera house and underground car passages, is to stand at 95 percent by the end of this year before opening in 2022.