City Focuses on Swift Compensation for Gimpo Hangang 2 Compact City
About 6,000 Apartment Units for Sale in Pungmu Station Area
Application Submitted to Amend Hangang Cinepolis Industrial Complex Plan
Compensation for Geolpo 4 and Gamjeong 4 District Development Projects to Begin This Year
The transformation of Gimpo City's urban landscape toward becoming a major city with a population of 700,000 is set to enter full swing starting this year. Gimpo City in Gyeonggi Province has prioritized 'balanced development that highlights regional characteristics' and 'the promotion of public welfare centered on citizens,' and is accelerating large-scale urban development projects.
According to Gimpo City on January 16, the city is working to maximize synergy through the integrated development of the Gimpo Hangang 2 Compact City and the Gimpo Environmental Regeneration Innovation Complex projects. The Hangang Cinepolis project, which had been stalled for 14 years, and the Pungmu Station Area project, which has been four years since its urban development designation, will continue to offer units for sale this year, following last year’s efforts. In addition, the Geolpo 4 District and Gamjeong 4 District are also set to establish compensation plans this year and move forward in earnest, making it likely that these large-scale projects-expected to elevate Gimpo’s urban brand-will soon yield visible results.
The Gimpo Hangang 2 Compact City project was designated as a district in July 2024, and the application for district plan approval was completed in July last year. The city is currently preparing for consultations with relevant agencies to secure approval for the district plan. Since residents within the district are suffering direct and indirect losses due to current activity restrictions, the city has been actively working with the Korea Land and Housing Corporation (LH) to hold multiple meetings with affected residents and to recommend that LH promptly begin on-site investigations, in order to ensure swift compensation.
For the third-phase new towns, the city is focusing on prompt compensation in close cooperation with LH, aiming to minimize the social and economic losses of residents. This is based on the fact that, in the past, it took as little as two years and up to three and a half years from district designation to the start of negotiated compensation.
The 'Gimpo Hangang Cinepolis General Industrial Complex,' which began in 2011 and made rapid progress in 2024, will begin construction and sales of mixed-use residential complexes (2,432 units) in earnest in the first half of this year. As one of the key hubs leading future industries, the Hangang Cinepolis Industrial Complex started selling factory sites in 2024. At the same time, it secured approval for the construction plan of apartment complexes (1,029 units) and completed project financing of 27 billion KRW for the apartments. Furthermore, it successfully secured 77 billion KRW in project financing for the mixed-use residential complex scheduled for 2025, allowing the project to gain momentum. The Opus Hangang Switzen has already achieved successful sales, and the mixed-use residential complex to be offered in the first half of this year will further accelerate the creation of residential districts.
In December 2025, an application to amend the industrial complex plan-including a reduction in supply prices to boost the sales rate of industrial land in Hangang Cinepolis-was submitted to Gyeonggi Province. Accordingly, Gimpo City will hold a public viewing for residents from January 16 to February 5, and a joint briefing session on January 26. Notably, the plan includes the creation of a culture park specializing in broadcasting and video content, which is expected to enhance the competitiveness of the complex and provide a pleasant cultural and recreational space.
The 'Pungmu Station Area Urban Development Project,' which aims to systematically develop the Pungmu Station area and assign it a central role as a station district, also plans to offer two apartment complexes (a total of 1,327 units) and a mixed-use residential complex (961 units) for sale this year. The project completed land acquisition within the development site in September 2024 and began site development work. Starting with Hoban Summit in October 2025, three apartment complexes (a total of 3,551 units) have been successfully sold. The Pungmu Station Area Urban Development Project aims for completion in the second half of 2027, and the project area is planned to accommodate a total of 6,599 units across five apartment complexes, one mixed-use residential complex, and a site for detached houses.
Mayor Byungsoo Kim is presenting a region-customized development strategy for the compact city during a meeting with the Korea Land and Housing Corporation's National Land and Urban Headquarters in March last year. Provided by Gimpo City
The Geolpo 4 District, covering 835,944 square meters in the Geolpo-dong area of Gimpo, and the Gamjeong 4 District, covering 221,255 square meters in the area of 598-11 Gamjeong-dong, completed the district designation, development plan, and implementation plan approval procedures by last year. This year, the city plans to establish compensation plans and actively engage in consultations with landowners and stakeholders within the project districts to ensure smooth project progress.
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