HDC Hyundai Development Company to Bring Six-Star Park Hyatt Hotel to Yongsan Front Zone 1

Aiming for a Triangular Synergy of Hotel, Office, and Accommodation
Mixed-Use Development Following COEX and Yeouido IFC

On June 4, HDC Hyundai Development Company announced its plan to bring the top-tier brand 'Park Hyatt'?part of the global top five hotel chains, Hyatt?to Yongsan Maintenance Depot Front Zone 1.

A panoramic view of 'The Line 330' proposed by HDC Hyundai Development Company for Yongsan Maintenance Depot Front Zone 1. Provided by HDC Hyundai Development Company

The company aims to establish a premium mixed-use complex that will serve as a symbol of Yongsan Front Zone 1 as a 'global business city,' organically connecting international business, commercial, and accommodation functions.

Attracting the Park Hyatt hotel is expected to draw high-end business demand. The venue could host international conferences and forums, VIP receptions for global corporations, high-end guest accommodations, and cultural and artistic events. It would also enable the creation of a business environment equipped with advanced infrastructure, including security, transportation, and telecommunications.

In the commercial sector, the proximity to a 'six-star hotel' would provide a location premium. This would help attract luxury retail, fine dining, and global beauty and lifestyle brands, while also securing demand from hotel guests as well as business and residential users, thereby significantly enhancing the stability and value of the commercial facilities.

In Tokyo, Roppongi Hills attracted 'Grand Hyatt Tokyo' within its complex, absorbing MICE, high-end accommodation, and global corporate demand, and boosting the sales performance and asset value of its premium office and commercial facilities.

Exterior view of Park Hyatt in Samseong-dong, Gangnam-gu, Seoul. Provided by HDC Hyundai Development Company

There have also been cases of high-end mixed-use development strategies in Seoul. The InterContinental and Parnas Hotels at COEX in Samseong-dong, Gangnam-gu, reinforced business and tourism functions through synergies with large-scale offices, retail, and exhibition spaces. Conrad Hotel at IFC Mall in Yeouido is also credited with attracting global financial firms and revitalizing commercial facilities.

A representative from HDC Hyundai Development Company stated, "We plan to realize the triangular synergy of 'hotel + office + commercial facilities,' centered around the attraction of the Park Hyatt hotel, at Yongsan Maintenance Depot. If this is combined with the distinctive skyline and landscaping of THE LINE 330, as well as the creation of a global luxury street, Yongsan's value and status as Seoul's premium gateway will be further elevated."