79-Story Landmark to Rise on Seongsu Sampyo Remicon Site... Groundbreaking Targeted for End of Next Year [Real Estate AtoZ]

Detailed Development Plan Approved with Amendments
79-Story Mixed-Use Complex to Be Built
Startup Hub to Be Established Through Public Contribution

A 79-story mixed-use complex will be built on the Seongsu Sampyo Remicon site in Seongdong-gu, Seongsu-dong, where a ready-mixed concrete factory had stood for 45 years. Centered around the Sampyo site, the Seoul Forest Grand Remodeling Project aims to transform the Seongsu-dong area into a hub for work, culture, and tourism, with groundbreaking expected as early as the end of next year.

On the 27th, the Seoul Metropolitan Government announced that it had approved with amendments the "Decision (Draft) on the District Unit Plan Area, District Unit Plan, and Detailed Development Plan for the Sampyo Remicon Special Planning Area in the Seoul Forest Area" at the 19th Urban Architecture Joint Committee meeting.

Aerial view of Seongsu Sampyo Remicon site. Provided by Seoul City

According to the plan, the Sampyo Remicon site will be redeveloped into a facility combining work, residential, and commercial functions, with a maximum height of 79 stories. To equip the site with future-oriented work functions, at least 35% of the space will be allocated for work facilities, while residential facilities will be introduced within a limit of 40% to promote proximity between home and work. The plan also incorporates the building coverage ratio and floor area ratio incentives previously granted when the site was selected last year as a target for the Architectural Innovation Preliminary Negotiation Program.

The total public contribution of 605.4 billion won secured through preliminary negotiations will be used to build infrastructure aimed at alleviating traffic congestion in the Seoul Forest area. Plans include constructing new ramps at Yongbi Bridge on the Dongbu Expressway and at the northern end of Seongsu Bridge, as well as building a pedestrian bridge at Eungbonggyo to improve the walking environment between Eungbong Station and the area.

Cross-section of Seongsu Sampyo Remicon Site. Provided by Seoul City

Through public contributions, Seoul City's "Unicorn Startup Hub" for nurturing promising startups will also be established with a total floor area of 53,000 square meters. In addition, Seongdong-gu and the city will secure 48.8 billion won and approximately 114 billion won, respectively, in cash for the installation of public facilities, to be widely used for improving local conditions.

Green spaces for citizens will also be expanded. A three-dimensional pedestrian park connecting the Sampyo Remicon site and Seoul Forest will be created, significantly increasing the green space linked to Seoul Forest. Shared spaces within the site will also be open at all times, providing external green areas accessible to the public.

The Sampyo Remicon site had operated as a ready-mixed concrete factory for 45 years since 1977. In 2017, the city, Seongdong-gu, Sampyo Industries, and Hyundai Steel signed a business agreement to demolish the factory, and since then, Seongdong-gu has temporarily used the site as a cultural performance venue. After more than a year of negotiations, the city officially notified SP Seongsu PFV, the private developer for the Sampyo site development project, of the completion of negotiations in February this year.

Once development is complete, the site is expected to emerge as a new landmark along the Han River. The city plans to finalize and announce the district unit plan in January next year after a re-public inspection, aiming to begin construction as early as the end of next year.

A Seoul Metropolitan Government official stated, "With the approval of the district unit plan for the Seoul Forest area, the Sampyo Remicon site will be developed into a future-oriented mixed-use work complex that can lead the Seongsu region, and the use of public contributions is expected to improve connectivity and other conditions in the Seoul Forest area."