20 Lots of International Business Zone, Business Complex Zone, and Business Support Zone
International Business Zone Upzoned to 'Central Commercial Area'
Traffic Improvement Measures Planned, Public Transport Share Targeted at 70%
Infrastructure Construction Scheduled After Next Year's Implementation Plan Approval
The development plan for the Yongsan International Business District has been finalized. The Seoul Metropolitan Government plans to establish detailed urban management plans, including traffic improvement measures, obtain implementation plan approval next year, and commence infrastructure construction.
On the 5th, the Seoul Metropolitan Government announced the "Yongsan International Business District Development Plan (Draft)" to construct a 100-story landmark international business district in Yongsan. A view of the Yongsan maintenance depot site, the planned location for the international business district. Photo by Heo Younghan younghan@
On the 6th, Seoul announced that at the 8th Urban Planning Committee meeting held the previous day, the designation of the Yongsan International Business District urban development zone and the development plan (draft) were approved with modifications. The Yongsan International Business District project site is located at 40-1 Hangangno 3-ga, Yongsan-gu, covering an area of 494,601㎡.
Seoul City and the project implementers, Korail and SH Corporation, have prepared the development plan through continuous consultations, discussions with the MP team and sector experts, and have proceeded with the development plan decision process including public inspection and consultations with related agencies. In the future, during the 'implementation plan approval' stage, which involves road and infrastructure design, the urban management plan such as district unit plans will be further detailed.
The Yongsan International Business District development plan was announced in February, and within four months, the necessary review for designation as an urban development zone was completed. To realize the development plan, specific district unit plans will be established, including land use and density plans, and the integration of public and cultural facilities. The introduction of renewable energy, creation of landmarks, and waterway plans will also be concretized through consultations with the implementers.
The Yongsan International Business District has been planned into a total of 20 blocks (with an average of 15,000㎡ per block), considering domestic and international development cases. A demand-tailored attraction strategy will be established to attract global companies and foreign capital. The block sizes will be flexibly adjusted to respond elastically to demand.
The Yongsan International Business District is divided into three zones according to the use of each area: International Business Zone (4 lots), Business Complex Zone (10 lots), and Business Support Zone (5 lots). The International Business Zone, located at the core, will have its land use designation upgraded from the third-class general residential area to a 'central commercial area.' If the private sector proposes creative and innovative designs, the International Business District will support designation as a special architectural zone or urban innovation zone, allowing the maximum floor area ratio to be increased up to 1700%. Landmark buildings up to 100 stories high can be constructed.
In preparation for the expected sharp increase in traffic volume after the establishment of the Yongsan International Business District, traffic improvement measures have also been prepared. This is to maintain the current level of traffic service through the supply of transportation facilities and proactive traffic demand management. The metropolitan traffic improvement measures, including improvements to roads around the project site and outer roads, and enhancements to public transportation functions, will be finalized after review by the Ministry of Land, Infrastructure and Transport's metropolitan traffic committee. Seoul aims to increase the public transportation mode share in the Yongsan International Business District to 70%.
Seoul plans to announce the designation of the International Business District urban development zone and the development plan in July, reflecting the modified district unit plan, special planning zone, and land use changes.
Lim Chang-su, Director of Future Space Planning at Seoul City, said, “With the designation of the Yongsan International Business District urban development zone and the decision on the development plan, the uncertainty surrounding the development of the Yongsan Maintenance Depot site, which has been neglected for over 10 years, has been removed, and the project is expected to gain more momentum. We will develop the Yongsan International Business District into an innovative global business hub and create an attractive urban space accessible to all citizens.”
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