Yeosu city in South Korea’s South Jeolla province is in preliminary discussions with the Ministry of Oceans and Fisheries to revise the Ungcheon Marina development plan, seeking to reduce the project’s cost by nearly 34 percent and prioritise water-based berthing facilities over large-scale land reclamation.
Yeosu City said the marina project is facing delays as an economic downturn at the Yeosu National Industrial Complex has reduced local tax revenue and left it struggling to secure funding. Disruptions to reclamation works at other major construction sites have also affected the supply of fill material needed for the marina.
To find a way forward, the city has prepared a revised plan that would use existing accommodation and clubhouse facilities instead of relying on large-scale land reclamation. The changes would also help accommodate growing demand for mooring space, as most water-based and land-based berthing facilities in the area have already reached capacity.
The proposed revision would lower the budget from 116.5 billion KRW (approximately $87 million USD) to 77.2 billion KRW ($57.6 million) for the project originally planned to provide 300 berths, a clubhouse and sites for accommodation and commercial facilities. If the ministry accepts the changes, the city plans to begin revising the detailed design and seeking the necessary approvals in 2027, followed by construction in 2029 and completion in 2032.
