[Seoul's Future] Director Park Jong-hyun: "Yongsan Development is Creating a City Within a City... Must Approach with Innovation"

Asia Economy Seoul Future Forum - Panel Discussion on Yongsan's Future
The Key is 'Connection'... Creating a City by Linking Hubs
"Without Open Innovation Exchange, New Industries Will Struggle"

"We must appeal the value that global companies and international organizations, the future demanders of Yongsan International Business District, can choose Seoul over Tokyo without having a hub there."

On the 26th, at the Press Center in Jung-gu, Seoul, Park Jong-hyun, Director of Nomura Research Institute Seoul, who participated in the panel discussion of the '2024 Seoul Future Forum' hosted by Asia Economy under the theme 'The Future of Yongsan,' said, "The unit of Yongsan International Business District is not a development project unit but creating a city within a city, and since it can be a flagship place for future Seoul, it should be approached with a concept close to innovation."

On the 26th, panelists are having a discussion at the '2024 Seoul Future Forum: The Future of Yongsan' held at the Press Center in Jung-gu, Seoul. From the left, Jahoon Koo, Professor at Hanyang University Graduate School of Urban Studies; Jonghyun Park, Director at Nomura Research Institute Seoul; Seona Kim, Vice President of the Korean Urban Planners Association; Sehoon Kim, Professor at Seoul National University Graduate School of Environmental Studies. Photo by Jinhyung Kang aymsdream@

Having past experience working at Mori Building Urban Design, Park mentioned various development and urban regeneration cases in Japan and emphasized the development direction of Yongsan, saying, "It should be considered as a model combining several cities that encompass downtown residential, business centers, and entertainment."

The key is connectivity. Park pointed to 'Azabudai Hills,' which completed the city by creating a compact city at the pedestrian living zone unit and linking hubs, advising, "We also need to reflect on the present and future perspectives to project the future of Seoul, the future of Yongsan, and the Yongsan International Business District."

Referring to Tokyo's metropolitan development projects such as 'Greater Shibuya,' he mentioned that it is important not only to have individual complex developments but also to connect major hubs. He explained Japan's development method, divided into stages such as urban environment maintenance, regional management, and regional connection work, saying, "Japan has grown based on pedestrian living zone units and then connected regions at the Tokyo metropolitan level."

In particular, he argued, "It is difficult to create new industries unless open innovation exchanges occur between Tokyo and Seoul." He added, "We should connect and expand the Yongsan International Business District with Namsan, the Han River, and Yongsan Park, and appeal the future image of the international business district as the 'future of Seoul' to global companies and international organizations," emphasizing, "International city Seoul must start by placing global players who will lead future industries at the center."

He continued, "When creating the future image of Seoul, more support can be gained when the linkage at the regional level, including the regeneration of the Han River, Namsan, and Yongsan Park connected with the international business district, is concretized," and said, "New values must be set at a higher vision level and overcome through collaboration with experts."

Jonghyun Park, Director of Nomura Research Institute Seoul, is attending and discussing at the '2024 Seoul Future Forum: The Future of Yongsan' held at the Press Center in Jung-gu, Seoul on the 26th. Photo by Jinhyung Kang aymsdream@