Bokjeong Station Area Attracts Major Development, "Bokjeong Station Epitte" Emerges as the Next Pangyo

POSCO Global Center, Expected to Create 16 Trillion Won Economic Impact, Holds Groundbreaking Ceremony on the 17th
Construction to Begin in the First Half of Next Year
Major Projects Such as the 10 Trillion Won Bokjeong Station Area Development Set to Follow

The development of the Bokjeong Station area, which is rapidly transforming into a hub for advanced and future industries, is becoming increasingly tangible. On November 17, the groundbreaking ceremony for the "POSCO Global Center," expected to generate an economic ripple effect of 16 trillion won, took place, signaling that major development opportunities in the area are now on track.

The POSCO Global Center project is one of the key initiatives completing the Wirye Fourth Industrial Cluster. It will be built on land designated for urban support facilities in the Wirye district near Bokjeong Station, covering 49,308 square meters (equivalent to seven soccer fields), with five underground and twelve above-ground floors. POSCO Holdings and major group affiliates will move in, establishing the center as a core hub for the metropolitan area and as a research and development (R&D) center.

The POSCO Global Center aims to begin construction in the first half of next year, with completion targeted for 2030. Upon completion, it is expected to create approximately 3,300 permanent jobs and generate an economic ripple effect worth 16 trillion won. The center will emerge as a leading R&D hub for eco-friendly future materials, including artificial intelligence (AI), secondary battery materials, hydrogen, and low-carbon technologies.

In addition to this, several large-scale development projects are underway in the Bokjeong Station area. Of particular note is the Bokjeong Station Area Development Project, led by a Hyundai Engineering & Construction consortium, with a total project cost of about 10 trillion won. The project will be 2.2 times the size of COEX and will be developed as a smart city, featuring large corporate R&D centers, a complex shopping mall, a performance hall, a hotel, and a major hospital.

The Bokjeong Station Integrated Transfer Center project is also drawing attention. This project is being promoted in the Jangji-dong area of Songpa-gu, on a total land area of 36,398 square meters, and will include residential buildings (from four underground to fifteen above-ground floors), office facilities, retail spaces, and an integrated transfer center.

Expectations are rising that the Bokjeong Station area will become a new industrial cluster in Korea, following in the footsteps of Pangyo New Town. Construction of Pangyo Techno Valley began in 2006, about 20 years ago, and companies started moving in from 2012. Focused on next-generation industries such as IT and BT at the time, Pangyo Techno Valley attracted a large number of companies and emerged as Korea's Silicon Valley.

An industry expert commented, "After Pangyo's success, several regions claimed to be the next Pangyo, but most fell short in terms of development scale and location advantages, even at the planning stage. The Bokjeong Station area, however, is adjacent to Gangnam and Seoul, offering better transportation and location conditions than Pangyo. With multiple development plans worth tens of trillions of won, it is highly likely to earn the title of the true post-Pangyo."

As a result, market attention is focused on areas such as Bokjeong District 1, which is being developed around Bokjeong Station. The learning effect from Pangyo's success-where the area grew into a self-sufficient city and became a prime real estate location in the metropolitan area-is raising expectations even higher.

According to KB Real Estate, the average sale price of apartments in Sampyeong-dong, Pangyo New Town, was 728.25 million won in 2012. By September this year, this had risen by 179% to 2.03899 billion won, equivalent to 60.29 million won per 3.3 square meters.

This is why news of new apartment launches, seen as the biggest beneficiaries of the Bokjeong Station development, is attracting attention. Seongnam Bokjeong 1 PFV Co., Ltd. is opening a model home and starting the subscription process for "Bokjeong Station Epitte," a private apartment complex in Block B1 of Seongnam Bokjeong 1 Public Housing District (hereafter Bokjeong District 1).

This complex, the closest to Bokjeong Station within Bokjeong District 1, will be subject to price caps. It will consist of six buildings, each with two underground and up to twenty above-ground floors, totaling 315 units of the highly sought-after 84-square-meter exclusive type. HL D&I Halla is responsible for construction.

The subscription schedule begins with special supply on November 24 (Monday), followed by first-priority applications for the local area on November 25 (Tuesday), first-priority applications for other areas on November 26 (Wednesday), and second-priority applications on November 27 (Thursday). Winners will be announced on December 3 (Wednesday), and formal contracts will be signed over three days from December 15 (Monday) to December 17 (Wednesday).

As of the announcement date (November 14), first-priority subscription is available to heads of households aged 19 or older residing in the Seoul metropolitan area (Seoul, Gyeonggi, Incheon), who are not part of a household owning two or more homes, and who meet the 24-month subscription account requirement and the regional deposit requirement.

The area boasts excellent accessibility to Gangnam, often referred to as the "next to Gangnam" zone. Through Seoul Subway Line 8, it is one stop to Jangji Station in Songpa-gu and 11 minutes to Jamsil. Via the Suin-Bundang Line, it is one stop to Suseo Station in Gangnam-gu and about 10 minutes to Seolleung Station. The area is also well-connected by major roads such as the Dongbu Expressway, Seoul Metropolitan Area First Ring Expressway, Heonreung-ro, Seongnam-daero, and Songpa-daero.

The educational and living environment is also of a high standard. In front of the complex is Seoul International School, and nearby are Bokjeong Elementary School, Wirye Haesol Elementary School (scheduled to open in March 2026), Changseong Middle School, Seongnam Girls' Middle School, Taepyeong Middle School, and Bokjeong High School. As a gateway location adjacent to Gangnam and close to Wirye New Town, the area stands out for its access to the Gangnam and Wirye academy districts, as well as high-quality cultural and lifestyle infrastructure such as COEX, Samsung Seoul Hospital, and Starfield Wirye.

The Bokjeong Station Epitte model home is located on Sagimakgol-ro, Jungwon-gu, Seongnam-si, Gyeonggi-do. Move-in is scheduled for April 2028.