Travel
Busan looking to host Korea’s first Disney experience facility near Gwangalli Beach
Haps Magazine Korea
March 24, 2025
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Busan is looking to welcome Korea’s first Disney-themed experience facility, which will be built on prime waterfront land near Gwangalli Beach and Gwangan Bridge.
The project is expected to transform a long-vacant site into a major cultural and entertainment destination, further strengthening Busan’s appeal as a tourist hub.
On March 19, the Busan City Council Planning and Finance Committee approved the sale of the former Cheonggu Mart site in Millak-dong, Suyeong-gu.
The 6,105㎡ site, adjacent to Millak Waterside Park, has remained undeveloped for 27 years following multiple failed business ventures.
The city received a private business proposal last year to develop a five-story Disney experience facility on the site, designed to feature large-scale media art exhibitions and interactive entertainment spaces utilizing global intellectual property (IP).
To facilitate this development, the city revised the land use designation from a sales facility to a cultural gathering facility (70%) and sales facility (30%).
Busan City plans to sell the land through a public bidding process, with the Disney proposal currently a leading contender. The official land appraisal is set to begin soon, and bidding is expected to take place by May or June. The sale will follow a highest-bidder system, allowing multiple private businesses to compete.
The city council has imposed conditions on the sale, requiring the successful bidder to maintain the designated land use for at least 10 years, secure adequate parking, and comply with contract termination provisions to ensure responsible development.