DK Asia 'Wanggil Station Royal Park City Prugio', Benefiting from Incheon Administrative System Reform

- Incheon Seo-gu Surpasses 600,000 Population with 130,000 Increase in 10 Years
- Large-Scale Urban Development Starting from Cheongna International City, Creation of Geomdan New Town

Incheon Seo-gu, which has seen a remarkable increase in population over the past decade due to new towns, large-scale urban development, and corporate relocations, is moving forward with the separation of Geomdan-gu to provide more efficient administrative services. The plan recently passed the State Council, and if the review proceeds smoothly, it is expected to pass the National Assembly soon.

Accordingly, Incheon City will reorganize its existing system of 2 districts and 8 gu (wards), maintained since 1995, into 2 districts and 9 gu. Incheon Seo-gu will be divided by the Gyeongin Ara Waterway, with the northern part becoming 'Geomdan-gu' and the southern part remaining 'Seo-gu.' Additionally, the Yeongjongdo area, previously part of Jung-gu, will be separated as 'Yeongjong-gu,' and the inland areas of Jung-gu and Dong-gu will be merged into 'Jemulpo-gu.'

According to the Ministry of the Interior and Safety, the population of Incheon Seo-gu, which was 490,350 in 2013, increased by 131,117 to 621,152 as of the end of October this year.

During this period, the area saw the final move-ins to Cheongna International City and continued apartment move-ins in Geomdan New Town. This year, the population growth accelerated further with the move-in of DK Asia’s 'Geomam Station Royal Park City (4,805 households)' in the Handeul district.

[Wanggil Station Royal Park City Prugio Housing Exhibition Hall Exterior]

Currently, south of the Gyeongin Ara Waterway in Incheon Seo-gu are Cheongna International City and the Lu-Won City area near Gajeong Five-way Intersection, while to the north lie Geomdan New Town and large-scale urban development sites.

Once the development of Geomdan New Town is completed, the planned population will reach approximately 187,000. The ongoing large-scale urban development projects are expected to increase the population by tens of thousands, strengthening the case for the separation of Geomdan-gu from Incheon Seo-gu to provide more efficient administrative services.

Moreover, the Incheon Seo-gu area is seeing an increase in jobs through corporate relocations and investment attraction, further enhancing its self-sufficiency. In June last year, Incheon Seo-gu was designated by the government as a 'Small and Medium Research and Development Special Zone' specialized in the environmental sector. After one year of designation, visible achievements have been made in technology transfer, research institute establishment, startups, and investment.

Corporate relocations continue as well. By the first half of 2025, Hana Bank’s headquarters relocation will be completed, marking the full relocation of Hana Financial Group to Cheongna International City, with related companies expected to follow. In 2021, LG Magna e-Powertrain, an electric vehicle parts company headquartered in Seo-gu’s Western Industrial Complex, signed a business agreement to promote the electric vehicle parts business and revitalize the local economy. As a result, related businesses such as electric vehicle parts are forming a cluster in Seo-gu, which is expected to further invigorate the regional economy.

Amid these changes, housing prices are also on the rise. Apartment prices in Incheon Seo-gu have been increasing since early May.

[Wanggil Station Royal Park City Prugio Housing Exhibition Hall Exterior]

In particular, additional apartment supply led mainly by the private sector is expected to further increase the value of Geomdan-gu in the future. A representative example is DK Asia’s 'Wanggil Station Royal Park City Prugio (Wangropu).' The complex will consist of 15 buildings ranging from 2 basement floors to 29 floors above ground, with 1,500 units of various sizes (59, 74, 84, and 99 square meters). The construction will be carried out by Daewoo Engineering & Construction, a renowned housing company, and landscaping will be handled by Samsung C&T Resort Division, ranked number one in Korea’s landscaping sector. The resale restriction period is six months, and there is no obligation for actual residence. Financial benefits include a 10% down payment with full interest-free benefits on intermediate payments, significantly reducing the purchasing burden. The housing exhibition center is located in Wanggil-dong, Seo-gu, Incheon Metropolitan City.