Full-scale Construction of Gwangwoon University Station Complex Facility Begins... HDC Hyundai Development Company Headquarters Relocation Planned

Seoul City-Nowon-gu-HDC Hyundai Development, Business Agreement Signed
First Step in Mixed-Use Development with Office, Commercial, and Residential Facilities
Active Promotion of HDC Headquarters Relocation in 2028
Partial Direct Ownership and Operation of Commercial Facilities Planned

The Gwangwoon University Station area logistics site development project, which will build a mixed-use facility up to 49 floors high, will be actively promoted starting with the commercial and office facility site project. HDC Hyundai Development Company, the project implementer, has decided to relocate its headquarters by 2028. They will also directly own and manage part of the commercial facilities to revitalize the local economy.

On the 22nd, the Seoul Metropolitan Government announced that it will sign a business agreement with Nowon-gu and HDC Hyundai Development Company to create a new living and regional economic hub in the northeastern area of the Gwangwoon University Station logistics site. The signing ceremony will be attended by Seoul Mayor Oh Se-hoon, Nowon-gu Mayor Oh Seung-rok, and HDC Hyundai Development Company CEO Choi Ik-hoon.

The Gwangwoon University Station logistics site (located at 85-7 Wolgye-dong, Nowon-gu) was a facility responsible for cargo in the northeastern area but became an undesirable facility due to aging, dust, and noise. Since 2009, Seoul has been promoting redevelopment through preliminary negotiations. In September last year, a district unit plan decision was announced to develop a mixed-use facility combining office, commercial, and residential spaces up to 49 floors high.

The Gwangwoon University Station logistics site is planned to include commercial and office facilities (19,675㎡), apartments, public dormitories, and living SOC (Social Overhead Capital) facilities. The goal is to establish self-sufficient functions, expand infrastructure, and create open spaces. Starting with this business agreement, the city plans to actively proceed with the commercial and office facility site project.

HDC Hyundai Development Company, responsible for project implementation, will actively pursue relocating its headquarters by 2028. This is expected to contribute to revitalizing the economy of the Gangbuk area, which has weak job and industrial bases. They also plan to directly own and operate part of the commercial facilities to stimulate the local economy. Through this agreement, HDC Hyundai Development Company has pledged to faithfully fulfill its public contribution plans.

The mixed-use site within the Gwangwoon University Station logistics site will feature eight buildings with 3,072 apartment units ranging from four basement floors to a maximum of 49 floors, along with commercial facilities. The project completed architectural review in April and is aiming for sales in the second half of the year. The commercial office site (19,675㎡) where HDC Hyundai Development Company’s headquarters will relocate and the public site (10,916㎡) are also preparing for architectural review and design competitions, respectively.

Infrastructure improvements to resolve regional disconnection caused by railway facilities and connect the area into a single living zone are also underway. A new four-lane east-west connecting road will be constructed, and a north-south pedestrian street along the district’s central axis will be created. Regional accessibility will also improve with the opening of the Wolgye Station northeastern light rail (scheduled for 2026), the Gwangwoon University Station GTX (Capital Region Express Train) Line C, and the undergrounding of the Dongbu arterial road.

Seoul Mayor Oh Se-hoon said, "Through the relocation of HDC Hyundai Development Company’s headquarters within the Gwangwoon University logistics site and the creation of a new living and regional economic hub, we will transform the Gangbuk area, which has been neglected in urban development for the past 50 years, from a bedroom community into a new economic city centered on jobs." He added, "This agreement will be a signal to unlock the potential of Gangbuk."

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