Up to 79 Floors: Seoul’s Second Tallest Skyscraper
At Least 35% Office Space, No More Than 40% Residential
Sampyo Group is moving forward with the "Sungsoo Project," which will develop a future-oriented mixed-use complex with a maximum of 79 floors on the site of the former Sampyo Remicon plant in Seongsu-dong, Seongdong-gu, Seoul. Upon completion, it is expected to become the second tallest skyscraper in Seoul after Lotte World Tower.
According to Sampyo Group on December 22, the Sungsoo Project is a large-scale mixed-use development combining office, residential, and commercial functions. It is a core business initiative aimed at transforming the company from a construction base materials firm centered on ready-mix concrete and cement into a comprehensive developer.
The Seoul Metropolitan Government recently held its 19th Urban Architecture Joint Committee meeting and approved, with modifications, the "Detailed Development Plan for the Seoul Forest District Unit Planning Area and the Sampyo Remicon Special Planning Zone." As a result, the Seongsu plant site, which began operations in 1977 and was demolished in 2022, now has the institutional foundation needed for redevelopment as a super high-rise mixed-use facility.
Sampyo Group plans to utilize Seoul’s pre-negotiation system to develop the site as a complex with at least 35% allocated to office facilities and no more than 40% to residential facilities. This plan aligns with the city’s policy direction to foster Seongsu-dong as a hub for future-oriented offices and innovative enterprises.
Infrastructure improvements to alleviate traffic congestion around the Seoul Forest area will also be pursued. The "Unicorn Startup Hub," a support space for startups, will be established, and a multi-level pedestrian park connecting the Seongsu site to Seoul Forest is also planned.
This project was selected last year as a target for the "Architectural Innovation Pre-Negotiation" initiative and was also recognized for "Urban Architecture Creative Innovation Design." As a result, incentives such as a maximum 90% relaxation of the building coverage ratio and an additional 104 percentage points for the floor area ratio will be applied to the multi-level pedestrian deck area.
Sampyo Group aims to directly develop and operate a global, future-oriented mixed-use complex through the Sungsoo Project, encompassing office, residential, commercial, and hotel accommodations. To achieve this, the company has established a dedicated organization and is recruiting specialized personnel. In February, Rodrigo Bilbao, who has global real estate development experience, was brought on board as president. In addition, former Lotte Construction president Seok Heecheol, who oversaw the construction of Lotte World Tower, was appointed as head of construction for the Sungsoo Project.
Prior to the Sungsoo Project, Sampyo Group is also accelerating the Susaek Project in Seoul’s Digital Media City (DMC). This project involves constructing a mixed-use residential and commercial complex with three buildings ranging from five basement levels to 36 above-ground floors in the Jeungsan-dong area of Eunpyeong-gu, Seoul, with completion scheduled for 2027. The new Sampyo Group headquarters, "SP Tower," will be located here, and major affiliates will move in sequentially. Both projects will utilize Sampyo Group’s proprietary low-carbon special cement "BLUEMENT" and special concrete "VAP."
Industry observers view Sampyo Group’s successive large-scale mixed-use developments as a strategic shift aimed at securing new growth engines, moving beyond its traditional focus on construction base materials.
President Rodrigo Bilbao stated, "The Sungsoo Project is an important milestone that will enhance the future value of Seoul’s urban core while driving the expansion of our business group," adding, "We will create a landmark that both the city and its citizens can enjoy together."
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