How Is Oh Se-hoon's Promise 'SH Headquarters Relocation to Jungnang-gu' Progressing?

Jungnang-gu Urges Seoul Housing and Communities Corporation (SH) to Relocate Quickly

Implementation of Seoul Mayor’s Customized Promise for Jungnang-gu, Anticipation for Seoul’s Gangnam-Gangbuk Balanced Development Policy

Seoul Mayor Oh Se-hoon also promised the relocation of the Seoul Housing and Communities Corporation (SH) headquarters to Sinnae-dong, Jungnang-gu, but the issue is still delayed, highlighting the urgent need for measures to regain momentum.

The relocation of the SH headquarters to Jungnang-gu was an agreement made in 2020 among Seoul City, Jungnang-gu, and SH.

In particular, Seoul City promoted this project as part of balanced development between Gangnam and Gangbuk areas. It was expected that if the SH headquarters moved to Sinnae-dong, an annual floating population of about 100,000 people would be generated, greatly benefiting Jungnang-gu, which previously lacked proper regional economic revitalization factors.

Accordingly, Jungnang-gu (Mayor Ryu Gyeong-gi) has expressed a strong will for the swift relocation of the SH headquarters.

Subsequently, Jungnang-gu abolished the school use designation of the site and completed the zoning change from general residential area to quasi-residential area. Also, in July 2021, SH completed a feasibility review by the Local Public Enterprise Evaluation Institute.

The problem is that the Local Public Enterprise Evaluation Institute’s feasibility assessment revealed that financial and economic feasibility had not been secured.

Therefore, after the inauguration of SH President Kim Heon-dong in December 2021, he ordered improvements in business viability by upgrading the quasi-residential area to a higher zoning classification and reviewing landmark buildings, leading to the commissioning of a high-density mixed-use development feasibility study for the site.

An SH official said, "We understand that efforts are being made to secure financial feasibility based on the study results."

However, Jungnang-gu anticipates that even with mixed-use development, the effect on improving business viability will be minimal. Jungnang-gu analyzes that the delay in finalizing the high-density mixed-use development plan has also delayed the relocation of the SH headquarters.

A Jungnang-gu official urged, “Due to the delay in the SH relocation project, residents of Jungnang-gu, who had high expectations for balanced development between Gangnam and Gangbuk and economic effects, are anxious. SH must promptly complete the high-density mixed-use development study and accelerate the swift relocation of the SH headquarters, aiming for construction to start in 2025 and completion in 2027.” He added, “Jungnang-gu will also spare no support for the long-awaited SH headquarters relocation project, and close cooperation with Seoul City and SH is necessary for this.”

Notably, during the last local election, Mayor Oh Se-hoon pledged through on-site campaigns that he would definitely keep the promise of relocating the SH headquarters to Jungnang-gu.

For this reason, it is reported that Jungnang-gu residents are eagerly hoping for the SH headquarters relocation as soon as possible, drawing attention.

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