Oh Se-hoon: "Changdong Vehicle Base Public Contribution Reduced by 50%... Supplied at Development Cost"

Introduction of 'White Site' in Mixed-Use Land
Public Contribution Halved When Commercial Area Upgraded
Corporate Land to Be Supplied at Development Cost Level
50-Year Long-Term Lease Complex Also to Be Provided for SMEs

Seoul Mayor Oh Se-hoon proposed unprecedented support measures to attract future advanced companies to the Changdong Vehicle Depot. Corporate land will be supplied at development cost, and companies moving into mixed-use land will receive a 50% reduction in public contributions.

Seoul Mayor Oh Se-hoon is explaining the development method and support details to companies wishing to move in at the 'Changdong Vehicle Base Area S-DBC Corporate Briefing Session' held on the 27th at the Seoul City Hall main conference room. (Photo by Seoul City)

At the 'Changdong Vehicle Depot Area S-DBC (Seoul-Digital Bio City) Corporate Briefing Session' held at Seoul City Hall on the 27th, Mayor Oh said, "After relocating the Changdong Vehicle Depot, we will design the idle land from scratch according to the directions companies want," adding, "This is the first time Seoul City has prepared such a groundbreaking plan among its development projects." A total of 130 people from 81 companies, including mid-sized firms in future industries such as digital bio and healthcare, attended the briefing.

Mayor Oh personally presented the S-DBC development method and support measures. S-DBC is characterized by establishing development plans based on corporate needs and reinvesting development profits back into companies. The city will fully support sharing development profits with tenant companies that create jobs.

Mayor Oh emphasized, "Previously, Seoul City used a top-down approach by designating land use and then selling it, but now, starting from the corporate briefing, we will identify corporate demands and discuss specific needs to prepare and supply customized solutions tailored to companies' requirements."

Mayor Oh also announced plans to reduce public contributions by half if the Changdong Vehicle Depot mixed-use land is upgraded to commercial land through the White Site system. The mixed-use land will allow flexible use, height, and density, with a 1.2 times increase in floor area ratio. For commercial areas, the floor area ratio will increase from 800% to 960%.

Mayor Oh stated, "When upgraded to commercial land, Seoul City usually demands substantial public contributions, but we will not do so here. We will practically return the benefits to tenant companies," adding, "By introducing the White Site system, we will negotiate with companies to fully accommodate their needs regarding height, floor area ratio, and land use."

Seoul Mayor Oh Se-hoon is explaining the development method and support details to companies wishing to move in at the 'Changdong Vehicle Base Area S-DBC Corporate Briefing Session' held on the 27th at the Seoul City Hall main conference room. (Photo by Seoul City)

Public contributions from private development will be invested in building the 'Seoul-type Lab Central,' which supports companies and research. The Seoul-type Lab Central will consist of a corporate support center, joint research center, community and business spaces, and administrative support facilities. It will nurture small and medium-sized enterprises and startups by providing support for general-purpose high-end equipment.

Mayor Oh explained, "We will build the Seoul-type Lab Central with half of the public contributions received and return it through equipment and various tangible and intangible support."

Corporate land will be supplied to tenant companies at development cost, planned at around 20 million KRW per 3.3㎡. Various tax benefits will also be provided, including reductions of 75% in acquisition and registration tax and 35% in property tax. Corporate land will be supplied through private contracts based on prior tenant agreements.

For small and medium-sized enterprises and startups, a 50-year long-term lease complex with significantly reduced rent will also be provided. Rent will be set at a level similar to Hongneung (around 100,000 KRW per 3.3㎡ per month). This measure aims to encourage the formation of diverse corporate ecosystems.

The transportation infrastructure around the Sanggye area is greatly improving. Using the Seoul Metropolitan Area 1st Outer Ring Road, access from Incheon International Airport to Changdong and Sanggye is possible within an hour. Construction of the GTX-C line has begun, and once the GTX-B, C, and E lines open in the future, travel time to Gangnam will be within 20 minutes and to Incheon within an hour.

Mayor Oh explained, "Connecting the Hongneung Bio R&D Complex, Changdong Vehicle Depot, Kwangwoon University station area strategic hub, and KEPCO training center site will create synergistic effects."

Seoul City plans to designate the Changdong Vehicle Depot area as an urban development zone by the end of 2025 for the S-DBC project. Following this, tenant agreements will be made in 2026, implementation plans announced in 2027, and land supply will begin in 2028.