8-Year-Long 'Sangam Lotte Mall' Construction Accelerates... Passes Seoul City Review

Seoul City Holds Urban Architecture Joint Committee and Approves Revision of 'Detailed Development Plan'

Sangam Lotte Mall Bird's-eye View (Provided by Seoul City)

[Asia Economy Reporter Kim Hyemin] Lotte Group's complex shopping mall development project in Sangam Digital Media City (DMC), Mapo-gu, Seoul, has crossed the threshold of Seoul City after 8 years.

On the 27th, Seoul City held the Urban Architecture Joint Committee and approved with modifications the "Sangam DMC Special Planning Zone Detailed Development Plan Decision" containing specific plans for Sangam Lotte Mall.

The area of Sangam Lotte Mall near DMC Station is 20,644㎡ (approximately 6,250 pyeong). Seoul City designated it as a special planning zone in 2011 to attract a complex shopping mall and sold it to Lotte Shopping in 2013 for 197.2 billion KRW. However, development was delayed as Seoul City demanded a "win-win agreement with nearby traditional markets."

In accordance with Seoul City's demands, Lotte Group proposed a win-win cooperation plan in 2017, including reducing sales facilities and prioritizing hiring local residents. Among the 17 nearby traditional markets, 16 agreed, but Seoul City withheld approval of the development plan citing opposition from one market.

However, after Lotte Group filed a lawsuit for illegality and the Board of Audit and Inspection raised concerns, Seoul City eventually proceeded with full review and gave final approval.

The detailed development plan approved by the Urban Architecture Joint Committee on this day includes installing a three-dimensional pedestrian connection passage to activate exchanges between Sangam and Susaek areas, and integrating two blocks, I3 and I4, to enable large-scale complex development. With the plan approved, construction of Sangam Lotte Mall is expected to begin as early as the first half of this year.

A Seoul City official stated, "While supporting the business demand generated mainly in the DMC area, it is expected to revitalize the local economy by expanding the insufficient central commercial and living convenience facilities and creating local jobs through attracting commercial and customer-attracting functions."