Buan County launches 150 billion KRW urban development project

Buan County has announced the commencement of a major urban development project following the approval of a consent motion by the Jeonbuk State Council. The project, covering approximately 240,000 square meters in the Buan-eup and Haengan-myeon areas, involves an investment of roughly 150 billion KRW.

Managed by the Jeonbuk Development Corporation, the initiative aims to create a planned residential district featuring apartment complexes, public and rental housing, roads, and parks. The project is designed to support regional growth by providing high-quality housing for youth and newlyweds, while also serving as a strategic residential base for workers attracted by Saemangeum development and new corporate investments.

The development timeline includes designating the urban development zone and establishing plans by 2027, followed by implementation plan approval in 2028. Land compensation and construction are scheduled to begin in 2029, with a target completion date of 2031.