"Only in Pangyo" Giant Panorama Unfolding in the Air... "Will Become a World-Class Destination"

Pangyo New Town 'Alphadom City' Complex Development Project Nears Completion with Landmark Facility Finished
220m Circular Skywalk Extends Outside 3-Story Elevated Pedestrian Space
CEO Kim Sang-yeop: "A 13-Year Journey Ends for Alphadom Development... It Will Become a World-Class Destination"

Pangyo Station, known as the gateway to Pangyo New Town, has seen the completion of 'Culture Valley,' an aerial pedestrian walkway, along with office buildings as the final phase of the Alphadome City complex development project. Specially made film is applied to the glass windows of Culture Valley to display panoramic videos, providing visual attractions to passersby. Naver and Kakao are scheduled to move into the buildings on the left and right sides of the photo soon, and the long Culture Valley connecting the buildings has been completed.

[Asia Economy Reporter Han Seung-gon] "We wanted to make it a landmark complex development project like Roppongi Hills in Japan, Raffles City in Singapore, or La D?fense in Paris. We are confident that it is comparable to such projects."

Alphadome City in Pangyo New Town, the largest public-private joint investment complex development project in Korea, will mark the end of its 13-year journey by the end of the year. Kim Sang-yeop, CEO of Alphadome Asset Management, who has overseen the development project, said Alphadome City has become a place anyone can proudly boast about. Before joining the asset management company, he was involved in the Alphadome development project during his tenure at Korea Land & Housing Corporation (LH), one of the project's investors, meticulously focusing on everything from urban design and development methods to even the flooring materials.

CEO Kim said, "If you take a look around Alphadome City, which is entering its completion phase, anyone would recognize it as an attractive point that will further invigorate Pangyo New Town," adding, "Now, the 228-meter-long aerial pedestrian walkway called 'Culture Valley,' connecting buildings housing giant IT companies like Naver and Kakao, is completed, putting the finishing touch on the project. By the end of the year, you will be able to tour the completed Alphadome City."

Culture Valley is a public contribution project completed at the very end of the Alphadome City development. Using investors' project funds, a ring-shaped pedestrian space was created on the 3rd and 4th floors above ground. Citizens using Pangyo Station and occupants of buildings adjacent to Culture Valley, including Naver and Kakao, can freely come and go.

The aerial pedestrian walkway 'Culture Valley,' which will become a landmark of Pangyo Alphadom City, consists of indoor spaces and outdoor spaces on the upper floors. Media signage has been installed on the window exterior walls of the indoor floors, allowing panoramic videos to be viewed all around from the ground level of Pangyo Station. Kim Sang-yeop, CEO of Alphadom Asset Management, is inspecting the finishing work at the outdoor space of Culture Valley.

While the indoor and outdoor pedestrian spaces are unique, what draws the most attention is the video board installed outside Culture Valley. The video board, known by the technical term 'media signage,' is 220 meters long and 2.8 meters high, displaying artworks and various videos. When exiting Pangyo Station and ascending to the ground level, visitors can enjoy a massive panoramic video board wrapping around the station. It delivers superior scale and resolution compared to the video board at the Trade Center in Samseong-dong, Seoul. CEO Kim explained, "We performed special work to reproduce videos on 590㎡ of glass windows of the Culture Valley aerial public walkway," adding, "We invested 5 billion KRW, one-sixth of the total 30 billion KRW construction cost, expecting it to become a symbol of Alphadome City and a source of urban vitality."

As the Alphadome development project nears completion, CEO Kim said, "The completion of buildings in a complex development project technically means laying the foundation, but there is still much to be done for the true completion of the project." He emphasized the need for the area to be recognized as a popular destination where dynamism can be felt. "We need to breathe life and vitality into Alphadome City. Therefore, even for Culture Valley, the last facility to be completed within the project area, I hope the building owners will continuously seek ways to activate the facility as owners after taking over," he stressed. Only then can Alphadome City establish itself as a world-class complex comparable to global developments and become a place visited by international developers for study tours."

About Alphadome City

It is a large-scale complex development project initiated in 2008. Currently, Alpharium residential complex apartments (931 units) and Hyundai Department Store, which has achieved annual sales in the trillion KRW range, are located there. Office sites are occupied or will be occupied by Hewlett-Packard, Kakao, Naver, Krafton, and Hillstate officetels (577 units). The Chosun Hotel operates under the Gravity brand.

When the development project began in 2008, the financial crisis struck, and even the 'Dream Hub Project' around Yongsan Station in Seoul, known as the largest complex development project since the founding of Korea, collapsed, putting the project at risk of suspension. However, Kim Sang-yeop, CEO of Alphadome Asset Management, then LH's head of financial business, negotiated with organizations like the Local Government Officials Pension Service to change the development method and brought the project back on track.

After phases 1 and 2 of development, a total of 5 trillion KRW was invested to build residential and commercial facilities on a 137,527㎡ site, with a total building area of 1,312,400㎡. In terms of total floor area, it is 4.8 times larger than the Empire State Building in the United States (254,000㎡).

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