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The Royals were also the first team to have won the league twice in and thrice in Although the season marked the emergence of an exciting young forward named Ahn Jung-Hwan , the Royals finished mid-table.
The club did however manage to qualify for the K-League Championship playoffs after placing fourth in regular season.
During the playoffs, the Royals managed to knock out Chunnam Dragons and Bucheon SK to secure the right to face defending champions, Suwon Samsung Bluewings , a club which was at the pinnacle of its meteoric rise.
As a company-owned club, the Royals' success was invariably linked to the health and success of its owner, Daewoo corporation. In the late s, the company began to suffer from major financial difficulties and parted ways with its once successful sports franchise.
IPark Construction, the domestic construction division of Hyundai , secured ownership of the club acquiring all its past history and records.
The new owners not only renamed the club as Busan i. Under new ownership, the club seldom challenged for the title finishing mid-table or toward the bottom of the league in the s.
Aside from winning the FA Cup for the first time in the club's history in under the guidance of Scottish manager Ian Porterfield defeating Bucheon SK in a penalty shootout , the trophy cabinet remained largely empty.
After winning the first round, Porterfield's Busan side reached the K-League Championship play-offs, but lost to a traditionally lightweight, but then-inspired Incheon United side led by Chang Woe-ryong.
For the season, Hwang Sun-hong took over as manager. Although Busan did not win any silverware during his tenure, he did manage to bring in players such as Kim Chang-soo , Jeong Shung-hoon , Yang Dong-hyun and Kim Geun-chul while injecting the team with much needed youth by giving prospects such as Han Sang-woon , Park Hee-do , and Park Jong-woo first team opportunities.
For the season, the board appointed An Ik-soo to take over from Hwang Sun-Hong who had left to manage his former club, Pohang Steelers.
Under An, Busan managed to reach the playoffs for the first time since after finishing fifth on the league table in the regular season. An's Busan side was knocked out in the first round of the play-offs by Suwon Samsung Bluewings by a familiar scoreline of 1—0.
In February , an adjustment was made to the club's name by dropping an apostrophe making the official name read Busan IPark. In , after 9 successive bottom-half finishes, Busan IPark were relegated to the K League Challenge for the first time in their history.
Towards the end of the season, with an immediate return to the K League Classic looking unlikely, IPark moved back to their smaller, previous home ground, the Gudeok Stadium.
Busan Ipark had an impressive season, although this was overshadowed by the death of then-manager Cho Jin-ho with only two weeks remaining in the season.
With caretaker manager, Lee Seung-yub in charge, Busan defeated Asan Mugunghaw FC , in the playoff semi-final, but lost on penalties after a two-legged final to Sangju Sangmu FC , who became the first K League Classic team to retain their league status via the playoffs.
For the season in the newly re-branded K League 2 , Choi Yun-kyum was appointed manager after previously gaining promotion with Gangwon FC.
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Love to have people like… Michael Welch: So I really like what I'm seeing from Hwang lately. I think he's still so raw. He's still a U23… Michael Welch: I haven't heard of any KNT players commenting.
Bento also says he respects the KFA's decision.