Full-scale Corporate Move-in... 10 Companies This Year, IKEA Shopping Mall Scheduled for 2025
Establishing a Foundation for Growth with the Local Community... Emerging as a Hub in the Eastern Metropolitan Area
Godeok Biz Valley, being developed on a 234,523㎡ site in the 345 area of Godeok-dong, Gangdong-gu (Mayor Lee Soo-hee), will take shape as a large-scale business complex this year.
Starting with the KX Group moving in July 2022, nine companies had settled in by last year, and ten companies are waiting to move in this year. Most companies are expected to be in place by 2025, drawing attention for bringing new vitality to the local economy, including job creation.
A place to enjoy shopping and culture while overlooking the Han River... Adjacent to Godeok Bridge, a ‘view hotspot’
In particular, ‘Godeok I-Park Dearban,’ which will include Seoul’s first IKEA shopping mall, E-Mart, CGV, and office facilities, is scheduled to be completed by the end of 2024. As a large-scale retail complex, it will be the only place in Seoul where visitors can fully enjoy shopping, culture, and healing while overlooking the Han River. Being adjacent to Godeok Bridge, a cable-stayed bridge, it is expected to attract many external visitors as a ‘view hotspot.’ A cable-stayed bridge is a type of bridge where girders are hung from cables slanting down from towers, commonly used for road bridges with spans of about 150 to 400 meters. It is economical and allows for aesthetically pleasing designs. Examples in Korea include Olympic Bridge, Seohae Bridge, and Incheon Bridge.
Also, in October last year, JYP Entertainment formed a consortium with Bando Construction and Jeongsan Company to win the bid for two blocks of retail sales land and plans to build an integrated headquarters. Given that JYP Entertainment manages many globally popular groups, it is expected to attract significant demand from overseas visitors.
The district expects Godeok Biz Valley to generate an economic effect worth 9 trillion won and create about 38,000 jobs. Along with the advanced business complex housing Samsung Engineering, Godeok Biz Valley will serve as the foundation for Gangdong-gu’s leap to becoming the economic center of the eastern metropolitan area.
Godeok Biz Valley tenant companies and the local community are growing together... Enhancing Gangdong’s brand value
Tenant companies in Godeok Biz Valley are actively contributing to the Gangdong-gu community. Starting with a business agreement with Gangdong-gu in 2021, 130 local residents, including about 70 from Dongmyeong Technical Complex, have been hired, marking the full-scale creation of private-sector jobs.
KX Group, RF Tech, Donghae General Technology Corporation, and others provide startup support spaces for youth startups and social enterprises. Currently, nine youth startup companies and four social economy companies are operating there. Additionally, Ace Medical, Ilhwa, and KS Korea Employment Information are planning to create and operate startup support spaces, and the district plans to recruit more tenant companies for shared offices and other office spaces.
The Kyobo Securities consortium is donating public spaces within the knowledge industry center (Gangdong U1 Center) and is also creating convenience facilities for residents such as a kids caf?, open library, and startup mentoring center.
Moreover, tenant companies are practicing community donations in various ways. Many companies, including KX Group, Shilla Trading, RF Tech, and Donghae General Technology Corporation, are promoting scholarships, Hope Stepping Stone fund support, and childcare support for families with multiple children. In particular, since March this year, KX Group has been providing lunchboxes twice a week for three years to 62 low-income vulnerable households, contributing to alleviating welfare blind spots.
Since last year, several companies such as Ilhwa, KS Korea Employment Information, Green Store, Cuckoo Electronics, and RSUPPORT have participated in the ‘Warm Winter with Hope Ondol’ project, practicing coexistence with the local community. In addition to donating rice, groceries, and daily necessities worth about 150 million won, Dodram Pig Farming Cooperative’s employees have conducted plogging along the Godeokcheon area, donating goods worth about 12 million won based on accumulated steps. Through various donations and sponsorships, they are delivering hope to neighbors in need.
Lee Soo-hee, Mayor of Gangdong-gu, said, “Godeok Biz Valley will be a landmark of Gangdong and enhance the district’s brand value,” adding, “We will carefully manage all aspects, including infrastructure development, so that tenant companies will say, ‘It was a good decision to come to Gangdong.’”
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