SH Corporation and Mapo-gu to Establish Smart Anchor Facilities for Publishing and Printing

Perspective rendering of the publishing and printing smart anchor facility planned by SH Corporation on the site of the 3rd annex building of Mapo-gu Office located in Seongsan-dong, Mapo-gu, Seoul.

[Asia Economy Reporter Donghyun Choi] Seoul Housing and Communities Corporation (SH Corporation) is building a publishing and printing smart anchor facility together with Mapo-gu.

SH Corporation announced on the 10th that it will construct a publishing and printing smart anchor facility with a total floor area of approximately 7,638㎡, spanning from four basement floors to five above-ground floors, on the site of the 3rd annex building of Mapo-gu Office located in Seongsan-dong, Mapo-gu, Seoul. The total project cost, including land expenses, is about 19 billion KRW, and it is scheduled to be completed and operational by 2022.

SH Corporation was finally selected as the entrusted negotiation candidate for the publishing and printing smart anchor construction project by Mapo-gu on December 23 last year. After approval by the Mapo-gu Council and signing the main contract with Mapo-gu, the facility construction will begin in earnest. Even after the facility is completed, SH Corporation will be responsible for supporting small business tenants and managing the facilities.

The entrusted development project method adopted by Mapo-gu Office is a system where public project entities such as SH Corporation invest funds upfront to develop national and public land, then manage and operate the facility for a certain period, repaying the project costs through rental income. The advantage of this project method is that it can supply necessary local facilities without financial burden by utilizing land owned by local governments.

Kim Seyong, President of SH Corporation, stated, "We will continue to expand the smart anchor construction projects in urban manufacturing clusters within Seoul," adding, "At the same time, we will take the lead in creating a foundation for youth employment through the establishment of startup clusters and industrial hub facilities."

Meanwhile, SH Corporation is investing about 16 billion KRW to build a fashion sewing smart anchor on the site of the public parking lot in Sangbong 2-dong, Jungnang-gu, with a total floor area of approximately 8,600㎡, spanning from four basement floors to seven above-ground floors.

This content was produced with the assistance of AI translation services.