Strategic Environmental Impact Assessment Released... Ministry of Environment Collecting Opinions
Separate Resident Briefings Held... Confirming Land Use Plans
Project Operator Selection Begins After Private Investment Feasibility Study Completion
A session to hear residents' opinions on 'Seoulling,' the world's largest ring-shaped Ferris wheel to be built in World Cup Park, Sangam-dong, Mapo-gu, Seoul, will be held. Although a concrete business plan has not been established, the basic project outline and land use concept are being revealed for the first time, drawing high interest not only from residents but also from the industry.
According to the maintenance industry on the 5th, Seoul City will disclose the draft results of the 'Seoul Ferris Wheel and Complex Cultural Facility Strategic Environmental Impact Assessment' to residents from the 8th of this month to the 5th of next month. This follows the completion of the strategic environmental impact assessment work initiated in July, and opinions will also be gathered from the Ministry of Environment and other approval and administrative agencies.
'Seoulling' is based on a Ferris wheel design featuring a 'spokeless ring shape.' It is one of the 'Great Hangang Project' initiatives announced by Seoul Mayor Oh Se-hoon last year, and during discussions, both the design and project site were changed. According to the current plan, two rings with a diameter of 180m will intersect in an 'X' shape, making it the world's largest spokeless ring-shaped Ferris wheel structure.
The content disclosed to residents this time is the draft of the strategic environmental impact assessment. While the assessment focuses on the items and scope of environmental impact evaluation, it will also include the project area and land use concept, allowing confirmation of the basic outline of the Ferris wheel project.
Seoul City has also decided to hold a residents' briefing session separately from the public inspection. It is scheduled to take place near Seoul World Cup Stadium on the 21st, including a session explaining the private investment project process. A Q&A session involving Seoul City and the contractors will also be provided for residents.
After the public inspection and related procedures are completed, consultations on the main strategic environmental impact assessment will begin. Once the Korea Development Institute (KDI)'s private investment feasibility study, initiated earlier this year, is released early next year, a report will be made to the city council, followed by the selection of a business operator through a third-party announcement. Seoul City aims to start construction in 2026.
There is expected to be controversy over the project cost soaring to nearly 1 trillion won, more than double the initial estimate, as Seoul Housing and Communities Corporation (SH Corporation) is participating as an investor to encourage private sector involvement. However, Seoul City maintains that the project’s viability is high, having secured benefits such as fast-track approval after passing the government's private investment project review committee. A maintenance industry official said, "Although many steps remain, including consultations with approval agencies and selecting a business operator, the residents' briefing session is a good opportunity to directly confirm Seoul City's plans," adding, "Given that this is a super-large specialized construction field, interest from related agencies and companies will continue."
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