Seongdong-gu Majang Station and Geumnam Market Station Area Opened for High-Density Development

Seongdong-gu Announces January Approval of District Unit Plan for Majang Station Area and Geumnam Market District... Achieving Results After 4 Years of Continuous Consultation and Efforts Since 2017 Plan Initiation... Enhancing Development Feasibility with Increased Floor Area Ratio, Upzoning to Semi-Residential Area, and District Expansion

Majang Station Area Basic Concept Example Diagram

[Asia Economy Reporter Park Jong-il] A green light has been turned on for the regional development of Majang Station area and Geumnam Market in Seongdong-gu.

Seongdong-gu (Mayor Jeong Wono) announced that on the 9th of last month, the 'Majang Station Area District Unit Plan' and the 'Geumho District Center District Unit Plan' passed the Seoul City 'Urban and Architectural Joint Committee Review.'

This is the result after four years since the commencement of the planning project in 2017.

In 2017, the district drafted a new blueprint for comprehensive urban planning in the somewhat underdeveloped Majang Station area and Geumnam Market vicinity within Seongdong-gu.

First, Majang Station area is one of the most underdeveloped among station areas, and the strategy was designed with goals such as strengthening the core functions of the station area, introducing region-specific functions, improving the pedestrian environment, and preventing the spread of facilities that deteriorate the residential environment.

Accordingly, the special planning zone for the station area was made the first in the nation to allow development on a parcel-by-parcel basis rather than joint development of the entire zone. When establishing detailed development plans, the floor area ratio (FAR) is applied differentially according to the degree of compliance with guidelines such as recommending joint development, allowing for an upgrade to quasi-residential zones. This enhances the feasibility of development.

For example, if the owners of three parcels, where joint development is recommended, build a building together, they can be guaranteed a floor area ratio of up to 400%, allowing buildings up to 80 meters high. This will transform the entire Majang Station area, which currently mostly consists of 4-5 story buildings.

Also, on the 39,567㎡ KEPCO Logistics Center site included in the Majang Station area district unit plan zone, a land use plan has been prepared to allow mixed development of residential, retail, and public facilities, enabling the establishment of educational research facilities, cultural facilities, and public offices.

The old Geumnam Market will also be transformed. Since almost no development has taken place since the district unit plan was established in 2001, the district revised the district unit plan to reflect local conditions by easing excessive regulations of the existing plan and creating conditions for voluntary maintenance.

The special planning zone, which previously included only part of the registered market of Geumnam Market, was expanded to cover the entire registered market, and a special planning possible zone was newly established in the western block of the Geumnam Market area. Reflecting the characteristics of the area composed of small parcels, appropriate scale integrated development is encouraged, excessive public contribution standards are eased, and a plan to increase the floor area ratio in the quasi-residential area back streets composed of small general parcels was prepared.

A district official said, "If Geumnam Market sheds its old and worn image and is transformed into modern buildings and high-rise buildings, it is expected to serve as a distribution and commercial function hub for about 85,000 residents of apartment complexes in the Geumho and Oksu areas formed through redevelopment."

Example Diagram of Kumho District Core Basic Plan

The district unit plans for these two areas will complete the resident re-review period by January 14 and are expected to be officially decided and announced around the end of January.

Jeong Wono, Mayor of Seongdong-gu, said, "It is the first time in four years that the urban management plan has been decided. It is an achievement obtained through difficult and strenuous consultations and deliberations with Seoul City." He added, "In recent years, Seongdong-gu as a whole has greatly transformed into an image of refined culture, upscale residential complexes, and a transportation hub. The confirmation of this urban management plan is expected to be a milestone for Seongdong-gu's leap as the central city of Seoul."

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