Seoul City Actively Promotes SH Corporation Headquarters Relocation... Targeting Move in 2024

"Next Year's Architectural Design Competition, 2022 Building Permits and Groundbreaking, 2024 Completion and Relocation Target"

[Asia Economy Reporter Kim Yuri] The relocation of the Seoul Housing and Communities Corporation (SH Corporation) headquarters is set to accelerate.

On the 25th, Seoul held the 17th Urban and Architectural Joint Committee meeting and announced on the 26th that the Seoul Sinnae 2 District Unit Plan Decision (Amendment) was approved with modifications.

This district unit plan decision (amendment) is for the relocation and establishment of the SH Corporation and includes changes to land use zones and urban planning facilities. The land use zone will be changed from Type 2 General Residential Area to Semi-Residential Area. The urban planning facilities will abolish the school (high school) and change the location of the buffer green space.

The new SH Corporation headquarters, relocating from Gaepo-dong, Gangnam-gu to Sinnae-dong, Jungnang-gu, will consist of office facilities with a total floor area of over 40,000 square meters above ground, neighborhood living facilities, and other ancillary facilities. In addition to the SH Corporation building, a 600-seat performance hall will be constructed to expand the insufficient cultural facilities in the northeastern area and increase cultural benefits for local residents. The city stated that community spaces and parking lots within the building will be shared with the local community to create a space that harmonizes with the region. The existing SH Corporation Gaepo-dong building is planned to be sold, and the proceeds will be utilized accordingly.

Seoul City said, "With the modified approval of the district unit plan decision (amendment), smooth progress of the SH Corporation relocation project is expected," adding, "after an architectural design competition next year, construction is planned to start in 2022, with completion and relocation of the headquarters scheduled for 2024."

The city also expects momentum to build for other public institution relocation plans aimed at balanced development between the Gangnam and Gangbuk areas. Last August, Seoul announced plans to relocate the SH Corporation, the Human Resources Development Institute to the Suyu English Camp in Gangbuk-gu, and the Seoul Institute to the Seoul Innovation Park in Eunpyeong-gu. However, criticism remains within these institutions that the city is forcibly pushing the relocations.

Lee Jeong-hwa, Director of the Seoul City Urban Planning Bureau, said, "The Seoul Sinnae 2 District Unit Plan Decision (Amendment) clearly demonstrates Seoul City's commitment to balanced development between Gangnam and Gangbuk. We hope that the SH Corporation's relocation will proceed smoothly and serve as a driving force for regional development."