New City Name &BI
Busan and the Busan-Jinhae Free Economic Zone Authority recently announced that they will develop a new name and a new BI (brand identity) of Myungji International New City (Myungji District) in order to raise the new city’s status as a 'luxury international business city' and boost its competitiveness in the era of western Busan development.
Busan is prudent in selecting the name of Myeongji International New City as Busan succeeded in creating a landmark in Haeundae under the name of 'Centum City' in 2000.
First, the Korea Land and Housing Corporation (LH), the preferred bidder of the project, will place an order with a naming agency in as early as May this year, and finalize its name through a public-private consultation body and a citizens’ preference survey, and expert consultation.
On the other hand, MyungJi International New City has been under construction since 2008. Its first phase (4.44 million square meters) project to be completed this year will include public facilities such as the western branch of the Busan District Court, a branch of the National Assembly Library, a culture and art center, and seek the attraction of a campus from Lancaster University in the UK and the construction of a five-star business hotel, and an international convention center among others. The second phase (1.92 million square meters) in the process of lifting a “green belt” development ban will begin in 2018 and be completed in 2023.
To top it off, it is said that MyungJi International New City is expected to become an international business city that represents Korea as well as a world-class tourist attraction as Busan is planning to develop special projects in the area such as the construction of a landmark park and designation of a special construction area.
"We expect that MyungJi International New City will enhance its quality as a 'luxury international business city' through the development of a distinctive and symbolic city name and considerably contribute to attracting global corporate investment," said Suh Byung-soo, mayor of Busan,