[Yeouido Renaissance] The Skyscrapers Around the National Assembly Building, Once Suppressed by Power, Come Alive

Relaxation of Height Restrictions in West Yeouido... Up to 50 Floors Allowed
Buildings Can Be Taller Closer to Yeouido Park
Achieving East-West Balance Will Help Yeouido Financial Hub Leap Forward

The skyscrapers around the National Assembly building, which have been suppressed by power for half a century, are coming back to life. With Seoul Mayor Oh Se-hoon's 'New Height District Plan,' height restrictions in West Yeouido will be eased for the first time in 47 years. Yeouido is divided into West Yeouido and East Yeouido, centered around Yeouido Park. West Yeouido, which includes KBS and the Korea Development Bank, has remained outdated due to being designated as a height-restricted zone because it is located in front of the National Assembly building. In contrast, East Yeouido is lined with supertall buildings such as Parc1 (333m), IFC (283m), and the 63 Building (249m), resulting in severe imbalance between the west and east. Going forward, if the buildings around West Yeouido, currently about 10 stories tall, are transformed into up to 50 stories thanks to deregulation, it is expected to help balance East Yeouido and contribute to Yeouido's leap as an international financial hub.

A view of an aging building in West Yeouido. It contrasts with the high-rise buildings in East Yeouido in the background. Photo by Hyunmin Kim kimhyun81@

West Yeouido, once clustered with 10-story buildings, changes... Height restrictions lifted for development up to 50 stories

According to Seoul City on the 4th, the city has completed the public inspection announcement of the new height district plan, which eases height restrictions around the National Assembly building from 41m and 51m limits to 75m, 120m, and 170m limits, and is currently reviewing residents' opinions. A Seoul city official said, "We plan to complete the reorganization of the height district by the end of the year after hearing opinions from the Seoul Metropolitan Council and undergoing review by the Seoul Urban Planning Committee."

As a result, a turning point is being created in the West Yeouido area around the National Assembly building, which has been designated as a height-restricted zone and aging for 47 years since 1976. Typically, one floor is calculated as 3 meters, so in areas with a 170m height limit, buildings of 50 stories or more can be constructed. The farther from the National Assembly building and closer to Yeouido Park, the taller the buildings can be.

Regulation effectiveness fades as National Assembly moves to Sejong... Severe east-west imbalance

The National Assembly building is one of the nation's critical facilities that affect national security if occupied or destroyed by enemies, causing its functions to be paralyzed. Therefore, development around West Yeouido has been suppressed to preserve the view of the National Assembly building. As a result, there is a severe height imbalance between the west and east sides centered on Yeouido Park. Most of West Yeouido consists of clustered, aging buildings around 10 stories tall, while East Yeouido is densely packed with supertall buildings such as Parc1, which houses The Hyundai Seoul, IFC Mall, and the 63 Building. This gap has been an obstacle to Yeouido's rise as a global financial hub like Singapore.

A Seoul city official explained, "The height district around the National Assembly building is located in Yeouido, which is the city center and digital financial hub according to the 2040 Seoul Urban Basic Plan, but uniform height restrictions to protect the National Assembly building have limited urban development. Therefore, we plan to relax the uniform height limits so that the height gradually increases from the National Assembly building toward Yeouido Park to revitalize urban functions."

Coincidentally, the planned relocation of the National Assembly building to Sejong has weakened the effectiveness of these regulations, which became a driving force for Mayor Oh to actively push for lifting height restrictions in West Yeouido. Last year, the National Balanced Development and Administrative Capital Completion Task Force announced plans to complete the Sejong National Assembly building by 2027. In preparation, Seoul City is also establishing a district unit plan for West Yeouido. The plan includes fostering public and office spaces to support the financial hub in West Yeouido and creating a fintech startup lab in the vacant facilities left by the National Assembly's relocation.

Mayor Oh said, "Many international financial companies leaving Hong Kong are moving to Singapore, but they should also come to Yeouido. For that, many new buildings are needed, and if the National Assembly building relocates to Sejong, it will have a very positive impact on the transformation of buildings in Yeouido."

Job creation and harmonious east-west skyline... Increasing Yeouido's value as a financial hub

Experts also see significant economic and aesthetic effects of easing height restrictions in West Yeouido on the entire Yeouido area. Song Seung-hyun, CEO of Cities and Economy, predicted, "If a 5-story building becomes 50 stories, efficient land use will be possible, creating jobs, and the east-west Yeouido skyline will harmonize, increasing the overall value of Yeouido as an international financial center."

Some argue that even if height restrictions are eased, the limited available development sites make it difficult to see visible changes immediately. Park Hap-soo, adjunct professor at Konkuk University Graduate School of Real Estate, said, "KBS, Korea Development Bank, and the Korea Federation of SMEs are located in West Yeouido, but there is no site ready for immediate demolition and reconstruction of existing buildings. While mid-sized buildings in between can be developed, it is difficult to build very tall due to limited floor area ratio."

However, there is also an opinion that small plots can be integrated for development, and as Yeouido's future value rises, demand for large-scale site redevelopment may emerge. CEO Song said, "Developing small individual plots could lead to indiscriminate development. If multiple plots are combined and developed integrally, like in Roppongi, Japan, high-rise redevelopment will be possible."