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News on the Extension of Subway Line 5 to Gimpo... 'Pungmu Station Prugio City' Getting Closer to Seoul

- Only 3 subway lines pass through Gimpo City? ... Following Gimpo Gold Line, Subway Line 5 and GTX-D Line added
- 'Pungmu Station Prugio City' near Gimpo Gold Line Pungmu Station benefits... Possibility of Subway Line 5 passing through also anticipated

News on the Extension of Subway Line 5 to Gimpo... 'Pungmu Station Prugio City' Getting Closer to Seoul

Despite being adjacent to Seoul, Gimpo City, which has been relatively undervalued in the real estate market due to a lack of public transportation infrastructure, is preparing to take off once again.


Until now, traveling from Gimpo City to Seoul by public transportation has relied solely on the Gimpo Gold Line (Gimpo Light Rail) and metropolitan buses (G-bus, M-bus).


Considering that Gimpo City's population is rapidly increasing every year, the public transportation options are severely insufficient. In particular, the Gimpo Gold Line has a very limited passenger capacity, resulting in a congestion rate of 241% during rush hours, earning it the notorious label of a "hell train," compared to Line 9 (185%), Line 4 (151%), Line 2 (149%), and Line 3 (141%).


However, Gimpo City's poor public transportation conditions are expected to improve significantly in the near future. The government is accelerating the project for the GTX-D line, which will quickly connect Seoul's Yongsan and Yeouido areas, and the long-awaited "Subway Line 5 Extension Project (Gimpo Hangang Line)"?one of the long-standing wishes of Gimpo citizens?is also coming to the surface.


On the 11th, Seoul City, Gangseo-gu, and Gimpo City signed an intergovernmental agreement to extend Subway Line 5 to Gimpo. This agreement has created an opportunity to advance the "Line 5 Gimpo Extension Project," which had been included as an "additional review project" in the 4th National Railroad Network Construction Plan. This line will extend from Banghwa Station, the current terminus of Subway Line 5, to Gimpo. Although the exact route and stations have not yet been finalized, it is highly likely to connect Gimpo Hangang New Town and Gimpo Old Town to Seoul's Banghwa Station.


Gimpo City's old town area, Pungmu-dong, is expected to benefit significantly from this. Once the GTX-D line and the Subway Line 5 extension open, traffic currently concentrated on the Gimpo Gold Line is expected to be dispersed, greatly reducing congestion on the trains.


There is also speculation that the Subway Line 5 extension may pass through Pungmu-dong, as it is located along the route from Gimpo Hangang New Town to Banghwa Station. Moreover, with large-scale development projects such as Pungmu 2 District and Pungmu Station Area underway, many believe that the Subway Line 5 extension will pass through this area to meet the increasing transportation demand.


Amid news of the Subway Line 5 extension project in Gimpo City, Daewoo E&C’s officetel "Pungmu Station Prugio City," currently being sold in the Pungmu 2 District area of Gimpo City, is attracting attention.


"Pungmu Station Prugio City" is a residential officetel building with one building ranging from four basement floors to ten above-ground floors, consisting of a total of 288 units (exclusive areas of 64㎡, 67㎡, and 82㎡). The complex also includes retail facilities with 32 units on the first floor.


"Pungmu Station Prugio City" is conveniently located within walking distance of Pungmu Station on the Gimpo Gold Line, making public transportation access easy. Gimpo Airport Station, where the Incheon Airport Railroad and Seoul Subway Lines 5 and 9 intersect with the Gimpo Gold Line, is only two stops away from Pungmu Station. Using this route, residents can travel to major business districts in Seoul such as Yeouido, Magok District, Gangnam area, and Seoul City Hall. Additionally, the benefits of the Line 5 extension can also be anticipated.


Right next to the complex is Seonsu Park, a rare green space even within the city. The park features an ecological trail with various flowers and trees, expansive lawns, various sports facilities, and a children's playground.


Nearby Sinpung Elementary School (including an attached kindergarten) allows children to commute safely without crossing busy roads. Additionally, students can attend Yangdo Middle School and Pungmu High School, which has a high university admission rate.


Convenience facilities are abundant. Large discount mart E-Mart Traders is within walking distance, and Homeplus Gimpo Pungmu Branch and CGV Gimpo are also nearby.


Development prospects in the surrounding area are also plentiful. Once the development project in Geolpo-dong, adjacent to Pungmu-dong, is completed, a richer and more diverse range of convenience facilities is expected. Last year, Gimpo City signed a business agreement with Shinsegae Property to build a complex shopping facility on the Geolpo 4 District urban development site.


Additionally, plans are underway to create the Hangang Cinepolis General Industrial Complex in Geolpo-dong as a video and cultural industry complex and a business-type mixed-use city, and the Gimpo Medical Campus project is also progressing rapidly. Through this, the Gimpo Inha University Hospital (tentative name), with over 700 beds, is planned to be built on a 90,000㎡ university site within the Pungmu Station Area urban development project.


© The Asia Business Daily(www.asiae.co.kr). All rights reserved.


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