The Seoul government said on Monday, 5 February 2024, that it has finalized the Yongsan International Business District plans to transform the 500,000-square-meter site into a vertical city featuring extensive green space from the basement and ground to the rooftops. The development plan will permit the construction of a landmark building with around 100 floors, as well as skybridges linking to other high-rises that will be built on the site.
Construction is scheduled to begin in the second half of 2025 with spaces expected to be ready for move-in in the early 2030s. This is a big announcement, as questions around the development moving forward had been up in the air for over a decade.The predecessor of the Yongsan international business district project was first announced in 2006 with renowned architects after a design competition but stumbled to progress further mainly due to the global financial crisis in 2008.
The unused train maintenance depot owned by the Korea Railroad Corp. and the land ministry has been dubbed the last remaining large section of undeveloped land in Seoul. It lies between the former USFK compound set to turn into a massive urban park and the Han River. It is also close to the Yongsan Presidential Office compound.
The city government said the Yongsan district will be reborn as a "compact city" where business, residence and leisure culture can be approached within walking distance. Depending on the intended purposes, the district will be divided into three zones -- international business, business complex and business support, it noted.
The international business zone will cover 88,557 square meters and be the location for the landmark skyscraper with around 100 floors, as the city government will ease its zoning and floor space regulations there. The zone will also host Class A office buildings, hotels, and a metropolitan transit center.
In the complex, 45-story office buildings are envisioned for the business complex zone that will be linked through skybridges. The lower level space will be dedicated to a concert hall, an art museum, and a cultural complex library.
In addition, the new business district will aim to further expand its green area ratio by connecting itself with the Han River and Yongsan Park areas.
Learn more at the Yonhap News Agency.