West Busan Waterfront Regeneration Platform

West Busan Project is a large-scale waterfront regeneration opportunity in Saha-gu, Busan, South Korea. It is an approval-backed waterfront restart opportunity in Busan, South Korea.

The wider site covers approximately 178,757 sqm across 59 parcels. Its 100,698 sqm residential parcel received Housing Construction Project Plan Approval on 9 April 2024 for 3,095 flats, approximately 563,259 sqm of gross floor area and a 399.26% floor-area ratio.

The separate 18,937 sqm marine cultural complex parcel also carries a 2024 building permit supporting lodging, office, retail, cultural, education, research and sports uses.

Its historical permitted planning programme called for 3,095 residential units, a 225-key hotel, a 225-key residence, and integrated commercial, cultural, and marine-related uses.

These approvals materially reduce greenfield entitlement risk and support a sponsor-led restart strategy.

A 2025 appraisal valued the site at approximately KRW 431.1 billion, while preliminary underwriting tests an illustrative KRW 250 billion entry basis.

This combines potential basis-reset upside with long-term demand for quality waterfront housing, hospitality and leisure in Korea’s second-largest city.

DE TAE is seeking a lead institutional sponsor, strategic developer and/or capital partner to undertake a phased diligence and transaction-structuring process.

Construction did not commence on the original December 2024 schedule; current certification, approval conditions, sponsor-change mechanics and a revised delivery programme will therefore be confirmed during Phase 1 diligence.

Phase 1 would include:

• Verification of title, liens and transaction authority
• Creditor and stakeholder mapping
• Review of planning transferability and public-contribution obligations
• Residential, hospitality and commercial market validation
• Capital restructuring and delivery strategy

The immediate requirement is funding for Phase 1 professional diligence and structuring, with no land deposit required before the principal threshold matters are cleared.

Subject to satisfactory findings and definitive agreements, the partnership may advance toward acquisition and full-scale development.

DE TAE’s proposed role is Korea-side opportunity originator, local-intelligence and stakeholder-mapping platform, underwriting coordinator and local execution partner under a defined, non-exclusive sponsor-side mandate.

ESG integration will begin at Phase 1, including responsible urban land reuse, public-realm and community benefits, and transparent institutional governance.

The opportunity remains preliminary.

Site control, transaction authority, clean title, planning transferability, permits, financing and all programme assumptions are subject to verification, partner approval and definitive agreements.