Yeouido 'Park One' to Become New Financial Hub Replacing Hong Kong

Richard Rogers, a Globally Renowned Building Architect

Panorama of Park One.

[Asia Economy Reporter Seunggon Han] The opening ceremony of Parc.1 was successfully held on the 12th at the Fairmont Hotel Grand Ballroom (B1) in Yeouido, with the participation of over 300 leaders from various fields, including Moon Hyunjin, Chairman of UCI Group, Kim Jinpyo, Speaker of the National Assembly, Kim Dongyeon, Governor of Gyeonggi Province, former Prime Minister Chung Sye-kyun, as well as Kim Choonghwan, Secretary General of the Korea Constitutional Association, Lee Beomheon, Chairman of the Korea Federation of Arts and Culture Organizations, and Kim Yongin, Chairman of the Korea Veterans Association.

Parc.1, which began construction in 2007, experienced delays including a temporary halt due to the global financial crisis, postponing its opening ceremony. In that regard, this opening ceremony holds great significance.

Boasting a super-large scale equivalent to 88 soccer fields, Parc.1 is five times the size of the 63 Building. Secured by a project financing deal worth 2.1 trillion KRW backed by a promise for the future, and designed by the world-renowned high-tech architect Sir Richard Rogers, Parc.1 presents a future vision beyond just a building.

Kim Jinpyo, Speaker of the National Assembly, said in his congratulatory speech, "I hope it becomes a global financial hub surpassing London, Hong Kong, and New York as Korea’s financial center." Former Prime Minister Chung Sye-kyun said, "Seeing residents taking night views of Parc.1, the prestige of Seoul has been elevated." Kim Dongyeon, Governor of Gyeonggi Province, stated, "Parc.1 is a genuine landmark where a special place and sense of place harmonize from a comprehensive artistic perspective of architecture embracing humanities, engineering, and arts."

Chairman Moon expressed his thoughts on the vision embodied by Parc.1, saying, "In 1971, my late father, the late President Sun Myung Moon, acquired this site, intending it to be an important stimulus for Korea’s growth and prosperity and a symbol of Korea’s bright future to come." He added, "Finally, that vision has been realized. In 2006, my father entrusted me with completing this project, and today, I have kept the promise made to him here."