[The Editors' Verdict] Yongsan Development: Start with a Proper Blueprint

[Asia Economy Jung Doohwan, Trend Managing Editor] The news that President Yoon Suk-yeol began his first term not at the Blue House but in the underground bunker of the Ministry of National Defense with a report from the Joint Chiefs of Staff still feels unfamiliar. One still wonders if there was really such urgency. In any case, the 'Yongsan era' of the presidential office, which went through many twists and turns, has begun.

The new government imbued the relocation of the presidential office to Yongsan with much significance. It aimed to shed the label of an isolated, imperial president cut off from the outside and to symbolize a government that 'communicates' with the people.

Yongsan has been a 'sore spot' in the growth process of Seoul, the capital. Despite its geographical advantage as the city center, it has been neglected, overshadowed by the two central axes of downtown and Gangnam, failing to fulfill its proper function. Therefore, the relocation of the presidential office is expected to serve as an opportunity for Yongsan to establish itself as a new central axis of the city.

However, the reaction of local residents to the presidential office moving closer to the people is complex. Alongside expectations that it will become a landmark befitting the central axis of Seoul, concerns about security and protection causing inconvenience to residents’ lives are also growing. This contrasts with the residents of surrounding areas such as Seochon and Bukchon, who, as the 74-year era of the Blue House ends, seem more excited about new development than feeling regret.

What is important is that the relocation of the presidential office must be connected to urban growth to overcome criticism that it is merely a political event. Among experts, voices are rising to revive the Yongsan International Business District development project, which was previously abandoned, using the relocation as a catalyst. This project, initiated in 2006, was a large-scale mixed-use development plan covering 520,000㎡ in the Yongsan district, including office, residential, and commercial spaces, but was halted in 2008 due to the global financial crisis.

Fortunately, Yongsan holds various unfinished infrastructures that can boost Seoul’s urban competitiveness. It houses the US Forces Korea base, spanning 8.95 million㎡. It is also a transportation hub where various railways and subway lines converge. There are numerous large and small idle sites, including the former planned Yongsan International Business District site. The need for redevelopment in aging residential areas is also high. Because development has been slow, there is actually ample room to draw a new vision.

Ultimately, the new government’s task is to properly draft the blueprint on this blank canvas. This means designing a new city called 'Yongsan' within Seoul with a bigger picture in mind. It is necessary to analyze the physical and functional limitations of existing centers such as downtown, Gangnam, and Yeouido, and create a future-oriented city that elevates Seoul’s status to the next level. This requires borrowing wisdom from experts across various fields and pooling national capabilities.

What must be guarded against in this process is sending the wrong signals to the market. The real estate market around Yongsan is already fluctuating due to vague expectations of development. If this speculative sentiment is left unchecked, Yongsan will become a target of speculation before proper development occurs. Therefore, hasty policy decisions to use the area as a source of housing supply by building a few houses immediately should be avoided.

We must not make the mistake of rushing and drawing the wrong blueprint for Yongsan. This is a matter of a different dimension from the presidential office relocation. Even if it takes the full five years of the new government’s term, it is worth it as long as a proper blueprint for the 'Yongsan era' can be drawn.

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