Dong Seoul Terminal to Become Up to 40-Story Mixed-Use Space for Sales and Offices... Seoul City Begins Preliminary Negotiations

Seoul City Begins Preliminary Negotiations on 6th with Private 'Shinsegae Dongseoul PFV' for
Mixed-Use Development
Modernizing Terminal and Building Up to 40 Floors
Using Public Contributions to Improve Transportation System
Preliminary Negotiations to Conclude by First Half of Next Year
Aiming to Start Construction in 2024 After Administrative Procedures

Aerial view of the Dongseoul Terminal business proposal. The city explained, "This business proposal may be subject to change during the preliminary negotiation process." Photo by Seoul City Hall

[Asia Economy Reporter Hwang Seoyul] The 'Dongseoul Terminal' in Gwangjin-gu, which has been in operation for 35 years since 1987 and is facing issues such as aging facilities and surrounding traffic congestion, will be transformed into a high-rise, mixed-use complex serving as a metropolitan transportation hub with a maximum height of 40 floors.

The Seoul Metropolitan Government announced on the 4th that it will begin preliminary negotiations on the 6th with the private developer 'Shinsegae Dongseoul PFV (including Shinsegae Property)' to establish a specific and rational development plan for 'Dongseoul Terminal.' The city aims to complete the preliminary negotiations by the first half of next year and start construction in 2024.

The preliminary negotiation system is a process where public authorities, as permit issuers, and private developers establish detailed development plans and amend urban plans through prior negotiations for large-scale development sites of 5,000㎡ or more. By securing a portion of the planning gains generated from zoning upgrades as public contributions, this development method promotes both efficient land use and the public nature of urban development projects.

The city selected Dongseoul Terminal as a preliminary negotiation target site in 2009 to modernize the terminal, and a proposal was submitted in 2011. However, due to a change in the developer (from Hanjin Heavy Industries to Shinsegae Dongseoul PFV), a fully revised proposal was submitted in June last year, and consultations with related departments and agencies were conducted. After reviewing the plan supplements and action plans, Shinsegae Dongseoul PFV submitted a revised proposal to the city in August this year.

Before development 'Dongseoul Terminal'/Photo by Seoul City Hall

The advanced complex development of 'Dongseoul Terminal' is a campaign pledge of Mayor Oh Se-hoon. Due to aging facilities, 'Dongseoul Terminal' not only causes inconvenience to terminal users but also creates habitual traffic congestion in the area as surrounding vehicles attempting to enter and exit the terminal become entangled due to inefficient vehicle circulation routes.

The project implementer, 'Shinsegae Dongseoul PFV,' proposed a mixed-use development plan through the preliminary negotiation proposal to strengthen the status of 'Dongseoul Terminal' as a metropolitan transportation hub in the northeastern part of Seoul and as a Han River landmark leading regional development.

The plan includes a total floor area of 357,000㎡ (land area 36,704㎡), a maximum height of 40 floors (197.5m, building coverage ratio 59.03%, floor area ratio 374.46%), and a mixed-use complex comprising the terminal (from basement level 3 to ground level 1, accounting for 30% of the total facilities), office facilities, and retail facilities.

First, the terminal, which currently causes inconvenience to users due to severe aging, will be modernized by relocating the boarding and alighting areas and parking lots, currently on the ground floor, underground (from ground level 1 to basement level 3). The terminal size will also be secured at more than 120% of the current scale to significantly reduce congestion.

Through a mixed-use development with retail and office facilities reaching up to 40 floors, the total area will expand to seven times the current size (47,907㎡) to a total floor area of 357,000㎡ and a land area of 36,704㎡. An observatory will be installed on the top floor, offering panoramic views of the Han River, and a pedestrian deck connecting to the Han River waterfront will also be newly constructed.

After development, 'Dongseoul Terminal' (expected) / Photo by Seoul City Hall

The installation of a bus-only road for entry and exit to Gangbyeonbuk-ro and a connecting deck to Gangbyeon Station will be secured through public contributions. This will improve the local transportation system and strengthen connections with public transit.

The city plans to review the appropriateness and alternatives of the preliminary negotiation proposal through discussions by the 'Negotiation Coordination Council,' composed of public officials, private developers, and external experts, as well as consultations with relevant departments. Discussions will focus on terminal function improvements, regional integrated connectivity, Han River central space reorganization, and public contributions.

Additionally, the city will discuss changes to the urban management plan to allow the currently single-use bus terminal urban planning facility site to be utilized for various purposes.

Hong Seon-gi, Director of Future Space Planning at Seoul City, said, "The modernization of Dongseoul Terminal and the mixed-use development of retail and office facilities will strengthen its status as a metropolitan transportation hub in the northeastern region, driving regional development. The top-floor observatory and Han River pedestrian deck are expected to become key points of the 'Great Sunset Han River Project.' We will proceed without delay through close cooperation with the preliminary negotiator to swiftly advance the project."

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