Redevelopment work has begun at Busan’s Suyeong Bay Yacht Marina, more than 40 years after the stadium was built. The Busan Metropolitan Government held a groundbreaking ceremony on 24 November 2025 at the stadium plaza in Haeundae District.
The Suyeong Bay Yacht Marina was originally constructed in 1986 and hosted yachting competitions during the 1986 Asian Games and the 1988 Seoul Olympics. Over time, the facilities became worn, and the growing number of vessels created a need for more docking space and updated infrastructure.
Redevelopment discussions began in March 2008 following a private investment proposal from Hyundai Industrial Development, and an implementation agreement between the city and iPark Marina Co., Ltd. was signed in March 2014.
As reported by The Chosun Daily, the project faced delays due to opposition from nearby schools and residents to the construction of a hotel within the redevelopment. Following these delays, the city and iPark Marina Co., Ltd. signed a revised implementation agreement which removed the hotel from the redevelopment plan.
The redevelopment covers a total area of 23.5 hectares including 14.2 hectares of land and 2.22 hectares at sea. iPark Marina will manage the facility for 30 years after its completion, which is now expected by late 2027.
Once completed, the marina will provide 567 berths, up from the current 438, with 317 at sea and 250 on land. The project will also include a yacht exhibition hall, a clubhouse, maintenance and repair facilities, commercial spaces and public waterfront areas. Additional planned facilities include a swimming pool and other civic amenities.
In a recent update, traffic and environmental assessments have also affected the project timeline, causing adjustments to the construction schedule.
