The recent visit of a Russian super-yacht in Busan which couldn’t anchor in Busan due to poor facilities showed the need for the city to upgrade its marinas.
Suyoung Bay Yacht Stadium and North Port Marina are not equipped to handle super-yachts at the moment.
Owned by Russian billionaire Andrey Melnichenko, Sailing Yacht A traveled around Gunsan, Mokpo, Yeosu, Jeju, and anchored near Gwangan Bridge during his trip to Busan.
The $350 million super-yacht was designed by world-class designer Philip Stark. The 5500t class is 119m long and has a maximum speed of 23 knots.
The city expects more super-yachts of over 40 meters to visit Busan in the near future as many of the over 40-meter superyachts anchored in neighboring countries such as Russia, Singapore, and Hong Kong often visit Busan.
However, as public tax money is used to expand the marina facilities, it is necessary to analyze accurate demand and economic effects says Choi Young-jae, CEO of Princess Yacht Korea Co., Ltd.