"Essential for Urban Development with Minimal Land Use" Yonsero Area Mixed-Use Development Project
Supporting Transparent and Accelerated Redevelopment Projects
"With the passage of the 'Special Act on the Undergrounding of Railroads and Integrated Development of Railroad Sites' through the National Assembly this year, we will work closely with the Ministry of Land, Infrastructure and Transport and Seoul City to prioritize the undergrounding of the Gyeongui Line and the three-dimensional integrated development of the upper space."
Lee Seong-heon, Mayor of Seodaemun District, stated in an interview on the 8th, "We will establish Seodaemun as the central city of Seoul where everyone wants to live through rapid regional development."
The mayor strongly expressed his determination to "create a full-scale transformation of Seodaemun at a speed faster than light" in 2024, which marks the midpoint of the 8th elected term.
This year, the district will focus on creating a new Daehak-ro through the undergrounding of the Gyeongui Line railroad in front of Yonsei University in Sinchon and three-dimensional integrated development. The site secured by the undergrounding of the Gyeongui Line will be concentrated with infrastructure such as industry-academia joint research complexes, youth startup research complexes, hotels, apartment complexes, performance halls, sports facilities, parks, and parking lots, creating a complex space where young people can fully demonstrate their capabilities. Mayor Lee emphasized, "Seodaemun is a city of nature with five mountains and two streams, and also a university city with nine universities. However, because of this, the developable land is relatively limited, so undergrounding the Gyeongui Line is essential for urban development."
Regarding this, Mayor Lee held two meetings last year with then Minister of Land, Infrastructure and Transport Won Hee-ryong and gained consensus on the necessity of undergrounding the Gyeongui Line. In fact, the Ministry of Land, Infrastructure and Transport announced this year that it will begin establishing plans for undergrounding above-ground railroads, and both ruling and opposition parties have been competing to announce pledges for railroad undergrounding, increasing the feasibility of this project.
Seodaemun District is also establishing a plan with high economic feasibility and potential for private investment attraction through the district-level 'Basic Plan Establishment Service for the Undergrounding of the Gyeongui Line and Three-Dimensional Integrated Development,' with results expected by March.
Additionally, the district is promoting the 'Yonsero Area Three-Dimensional Integrated Development Project' linked to the undergrounding of the Gyeongui Line, aiming to create a bio-industry hub, startup platform, and youth work and cultural spaces underground in the Yonsero area in connection with Severance Hospital. Mayor Lee said, "Since the KTX undergrounding project for the Susaek-Gwangmyeong section has passed the preliminary feasibility study, I am confident that if we negotiate with the Ministry of Land, Infrastructure and Transport and Seoul City to attract private investment along with concrete plans, the project can proceed quickly."
He also predicted, "If such three-dimensional urban development is linked with national strategic projects like Urban Air Mobility (UAM), the entire Seodaemun area, including Sinchon, will transform into an attractive city where people, businesses, and private investments gather."
As a result of Seodaemun District's all-out efforts for regional development last year, the number of redevelopment zones increased from 38 at the launch of the 8th elected term to 55. Also, with a 74.1% resident consent rate, the Inwang Market and Yujin Shopping Area were selected as candidates for the 'Seoul Metropolitan Area Station Area Revitalization Project.' Recently, the district published the nation's first redevelopment and reconstruction guidebook.
Through transparent and swift support for redevelopment projects like this, the district plans to drastically shorten the project period, which used to take as long as 15 to 20 years, to within 10 years. This will protect residents' property rights, transparently inform them of project information and progress, and reinvest development profits into living SOC facilities so that more residents can benefit and the urban value can be enhanced.
Furthermore, to revive the glory of Sinchon and Ewha, which were Korea's representative commercial districts, the district's full-scale efforts last year resulted in a 23.0% increase in sales per store in Sinchon in the first half of 2023 compared to 2022, three times the Seoul average of 8.2%.
A long-term master plan for revitalizing the Sinchon and Ewha areas is also scheduled to be established by October this year, aiming to develop Sinchon into a glocal (global + local) commercial district linked with the undergrounding of the Gyeongui Line and the three-dimensional integrated development of the Yonsero area. Mayor Lee Seong-heon said, "Although I have served as a Blue House secretary and a two-term National Assembly member, I am happiest now as the Mayor of Seodaemun District, directly implementing policies that develop the region and enhance residents' happiness."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
![[Interview] Lee Seongheon, Seodaemun-gu Mayor: "We Will Establish Seoul as a Central City through Projects like Gyeongui Line Undergrounding"](https://cphoto.asiae.co.kr/listimglink/1/2024021307233161113_1707776611.jpg)

