[Yongsan International Business District Development] 100-Story Landmark Building to Be Constructed... Occupancy in 2030

Resumption of Redevelopment After 10 Years
100-Story Landmark Building in the Center
Sky Trail Connecting 45-Story Buildings
Infrastructure Construction and Land Sale in Second Half of 2025

The Yongsan International Business District development project is being relaunched after 10 years. A landmark building with up to 100 floors, featuring an observatory and sky garden, will be constructed at the center of the business district. In the surrounding area, a 1.1 km-long 'Sky Trail (pedestrian sky bridge)' connecting 45-floor buildings will be installed.

On the 5th, Seoul City announced the 'Yongsan International Business District Development Plan (Draft)' to construct a 100-story landmark international business district in Yongsan. Seoul Mayor Oh Se-hoon is listening to an explanation from officials at the Yongsan Maintenance Depot site, the planned location for the international business district. Photo by Heo Young-han younghan@

This development project is part of the 'Seoul Grand Renovation' effort to elevate Seoul to one of the world's top five cities by promoting a convergence and complex urban development project on the 500,000㎡ Yongsan Maintenance Depot site. To avoid repeating the failed experience of 2010 when the project was led by the private sector, KORAIL and Seoul Housing & Communities Corporation (SH Corporation) will take charge of implementing the project.

On the 5th, the Seoul Metropolitan Government announced the 'Yongsan International Business District Development Plan' at Yongsan Station. The city plans to designate the International Business District urban development zone in the first half of this year and proceed with the implementation plan approval in the first half of next year. Infrastructure construction will begin in the second half of next year, along with land sales. KORAIL and SH Corporation, responsible for implementation, will develop infrastructure such as roads, parks, cultural facilities, and parking lots, while private companies will develop individual plots. The goal is to complete the infrastructure by 2029. Occupancy is expected to begin in early 2030. The project budget exceeds 51 trillion won.

100-Floor Landmark in the International Business Zone, Up to 1700% High-Density Development Allowed

The International Business District will be divided into the central International Business Zone (A1~A4), the surrounding Business Complex Zone (B1~B10), and the Business Support Zone (C1~C5) adjacent to Seobu Ichon-dong.

The core area of this project, the International Business Zone (88,557㎡), will feature a landmark building approximately 100 floors high. The city has set a height limit of around 450 meters to allow for a landmark building of about 100 floors in this zone. If private developers propose 'creative and innovative designs,' the area can be designated as an urban innovation zone or special architectural zone, allowing development up to the maximum floor area ratio of 1700%. The top floors will include a complex recreational space such as an observatory and sky garden. The International Business Zone will also provide prime-grade offices, MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, hotels, and a metropolitan transit center to meet the demand of finance and ICT companies.

For the Business Complex and Business Support Zones, the city plans to upgrade the land use designation to 'General Commercial Area' or higher, aiming for an average floor area ratio of 900% across the entire project district. Through this, the Business Complex Zone (104,905㎡) will establish business and corporate support facilities related to artificial intelligence (AI), big data, and others, linked with Yongsan Electronics Market and Hyundai R&D Center. The Business Support Zone will build support facilities such as residential, educational, and cultural amenities.

Through this project, the overall skyline of the International Business District will feature buildings that gradually decrease in height from the International Business Zone to the Business Support Zone. Additionally, a 1.1 km-long Sky Trail will be introduced in the 45-floor Business Complex Zone.

Occupancy Targeted for Early 2030

To ensure the public interest of the project, public institutions KORAIL and SH Corporation have been selected as the project implementers to develop the infrastructure. The city will provide incentives to both public and private sectors by gradually upgrading land use designations to promote stable project progress and innovative development. Following the passage of the National Land Planning Act on the 9th of last month, the distribution of development profits between private and public sectors has been adjusted to be fair.

To systematically operate and manage the Yongsan International Business District, a 'Yongsan International Business District Town Management' (tentative name) will be established. It will serve as a gateway for attracting domestic and international companies and international organizations. The city expects that the development of the International Business District will generate 146,000 jobs and induce production worth 32.6 trillion won in the future.

Seoul Mayor Oh Se-hoon said, "Despite Yongsan being a land with unlimited potential in terms of location and possibilities, it has not had development opportunities until now. With the confirmation of this plan, it will signal the start of innovative development." He added, "We will concentrate all administrative capabilities and resources to make the 'Yongsan International Business District,' which embodies the future of an international business hub and sustainable city, a 'global standard' for large-scale convergence and high-density development in old urban areas."