LH to Resupply Yeouido Site Worth 402.4 Billion KRW

Yeongdeungpo-gu Yeouido-dong 61-2, Area 8,264㎡
Bidding Application and Opening on May 23
Contract Scheduled for August 23

Korea Land and Housing Corporation (LH) announced on the 28th that it will resupply the site at 61-2 Yeouido-dong, Yeongdeungpo-gu, Seoul, through a competitive bidding process targeting actual users. The land to be supplied is located near the Catholic University Yeouido St. Mary's Hospital. The area is 8,264㎡, and the expected supply price is approximately 402.4 billion KRW, the same as the initial supply price.

Unlike the initial supply last year, this resupply will be conducted with ample time for bid applications and payment schedules, so it is expected that more actual users will participate in the bidding. Starting with the bid announcement on the 26th, the successful bidder will be selected on May 23, and the contract will be signed on August 23. The full payment must be completed at the time of contract signing, and once the payment is completed, land use will be immediately possible.

Once the Yeouido Financial Center District Unit Plan announced by the Seoul Metropolitan Government in May last year is finalized, the "Urban Function Support District" where the supplied land is located will allow for various site utilizations.

An LH official stated, "Yeouido is one of the most notable areas, with various development benefits concentrated such as Seoul's 'Yeouido Financial Center District Unit Plan' and the full-scale promotion of old apartment reconstruction projects," adding, "We hope for great interest in the resupply of 61-2 Yeouido-dong this time."