The redevelopment of the Suyeong Bay Yacht Marina in Haeundae District, originally scheduled for completion by the end of 2026, has been postponed by about one year to late 2027 due to delays in key approval procedures.
According to Busan City on November 3, construction at the site has not yet begun. The project was initially set to start in May, but traffic and environmental impact assessments were only conditionally approved, causing procedural delays.
The redevelopment, led by IβPark Marina Co., a private developer under agreement with Busan City, involves an investment of 158.4 billion won to modernize the marina and operate it for 30 years.
Under the revised plan signed in January, the project will include new yacht berthing facilities, a yacht exhibition hall, club building, yacht care center, swimming pool, and commercial spaces. Once completed, the marinaβs capacity will expand from 438 berths (299 sea, 139 land) to 567 berths (317 sea, 250 land).
The cityβs traffic impact review in March granted conditional approval, requesting revisions related to parking management, electronic signage installation, and road expansion.
The environmental review in August also received conditional consent, citing the need to address residentsβ concerns over blocked sea views from nearby apartment complexes.
Additional issues such as dredging methods, plankton monitoring, flood risks, and night lighting were also raised.
A public hearing to gather resident feedback is planned, and further design adjustments will be needed for roads and buildings.
As a result, the projectβs completion, originally targeted for December 2026, has been pushed back by roughly one year.
The maritime construction phase may also take longer than expected. Initially projected at seven to eight months, the contractor now anticipates about 20 months to ensure compliance with the Severe Disaster Punishment Act and enhanced safety standards.
The delay has led to friction with the local yacht industry, which has been awaiting the reopening of the marina. Industry representatives have expressed frustration over a lack of clear communication regarding the revised schedule.
