Booyoung to Build Apartments and General Hospital on Former Daehan Jeonseon Site

[Asia Economy Reporter Onyu Lim] On the former site of Daehan Cable in Siheung-dong, Geumcheon-gu, Seoul, purchased by Booyoung Group in 2012, an apartment complex with 990 households and a general hospital with 800 beds will be built.

On the 23rd, Seoul City held an Urban and Architectural Joint Committee meeting and announced on the 24th that it had approved with modifications the detailed development plan amendment for the Geumcheon-gu Core District Unit Plan and the Daehan Cable Site Special Planning Zone.

The Daehan Cable Site Special Planning Zone covers an area of 80,985㎡ around 113-121 Siheung-dong. Booyoung Group purchased this land from Daehan Cable for 125 billion KRW in 2012. Booyoung Group has been promoting development on the premise of building a general hospital at the request of Geumcheon-gu. Subsequently, in 2017, the group established the Woojeong Medical Foundation through its affiliates Booyoung Housing and Donggwang Housing, donating land and funds for the hospital, thereby securing project qualifications.

Currently, this site has been left as vacant land after the Daehan Cable factory relocated. A Seoul City official explained, "The detailed development plan for the area was decided based on residents' proposals."

The site is divided into residential and industrial zones. Approximately 990 apartment units, including public rental housing near the station with 2 basement floors and 35 above-ground floors, will be built in the residential zone. In the industrial zone, a general medical facility with about 800 beds, consisting of 5 basement floors and 18 above-ground floors, will be constructed.

A Seoul City official expressed expectations that "the detailed development plan decision for the Daehan Cable Site Special Planning Zone will contribute to strengthening medical services and creating jobs in the southwestern area and Geumcheon-gu, enhancing public interest, revitalizing the station area, and developing the surrounding residential complex."