Busan city said on the 23rd that at the 5th Industrial Location Policy Deliberation Committee hosted by the Ministry of Land, Infrastructure and Transport, it secured a total of 6,559,000 square meters of industrial land—about 1 million square meters more than the existing plan—for the next 10 years.
According to Busan city, the Ministry of Land, Infrastructure and Transport (MOLIT) held the Industrial Location Policy Deliberation Committee from the 11th to the 17th and finalized the 5th industrial location supply and demand plan (2026–2035).
The industrial location supply and demand plan is a statutory plan established every 10 years under the Industrial Location Act, comprehensively considering regional industrial land supply and demand conditions and changes in industrial structure.
Recognizing the need to secure a base for increasing industrial land demand and future new industries, Busan city received the maximum upward limit of 20% compared with the existing plan from the Ministry of Land, Infrastructure and Transport, securing a total of 6,559,000 square meters of industrial land—an addition of 1,093,000 square meters.
Based on the industrial land secured this time, the city plans to promote the creation of new industrial complexes and attract high-tech industries, and further advance the regional industrial ecosystem by creating youth jobs and fostering high value-added industries.
Park Heong-joon, the Busan mayor, said, "This 5th industrial location supply and demand plan is an important turning point that goes beyond simply securing land to transforming the structure of the Busan economy," adding, "We will continue to create a favorable environment for corporations and do our best to strengthen industrial competitiveness and create quality jobs so the city can leap forward as a place where young people want to work."