Osan City Completes Acquisition of Segyo Terminal Site... Plans to Establish Northern Osan Landmark

In-kind Contribution to Osan Urban Corporation for Public Development
Mixed-use Development Planned: Residential, Office, Commercial, and Public Infrastructure Functions

Osan City in Gyeonggi Province has completed the acquisition process for the public development of the Segyo Terminal site, which had long remained undeveloped.

On January 6, Osan City announced that it has finalized the purchase of the 22,897-square-meter Segyo Terminal site, located at 585 Segyo-dong within the Segyo 1 District, from the Korea Land and Housing Corporation (LH). Previously, in May of last year, the city signed a contract with LH to purchase the land for 51.5 billion won.

Development plan for the Segyo Terminal site, for which Osan City has completed land purchase from Korea Land and Housing Corporation (LH). Osan City

The site is adjacent to Sema Station on Seoul Metropolitan Subway Line 1 and National Route 1, making it a key hub connecting northern Osan and outlying areas.

However, after the completion of the Segyo 1 District development project in 2012, five attempts were made to sell the site between then and 2016, but all failed, leaving the land unsold for an extended period.

The city determined that the prolonged neglect of the site was hindering the expansion of urban functions and regional growth in northern Osan. As a result, the public sector decided to directly acquire the land and proceed with its development.

The city plans to contribute the land in kind to Osan Urban Corporation and pursue a mixed-use urban development project that combines residential, work, commercial, and public infrastructure functions. Through this initiative, the city aims to enhance residents' quality of life, revitalize the local commercial district, and establish a new landmark for the northern Osan area.

Osan Mayor Lee Gwonjae stated, "The acquisition of the Segyo Terminal site is a clear declaration that the public sector will take responsibility for designing the city's future direction. We will steadily transform this space into a new center for northern Osan and a hub where citizens' lives converge."