Yongsan Electronics Market Transformed into a Cutting-Edge Building Forest... Public Notice for District Unit Plan Amendment

by Kim Minjin

Published 08 Jul.2024 07:43(KST)

Site of Najin Shopping Center Buildings 12 and 13 Released from Distribution Business Facilities After 38 Years
Land Area of 5792.4㎡ at Hangangno 3-ga 2-8
Floor Area Ratio 800%, Planned Conversion to Mixed Urban Residential, Office, and Retail Facilities
14,8844.3㎡ Area of Electronics Shopping District Designated with 11 New Special Planning Zones

Elevation plan for Najin Shopping Center Buildings 12 and 13 special planning district site. Provided by Yongsan-gu.

The district unit plan for the site within Yongsan Electronics Market, which designated distribution business facilities in 1985, will be lifted for the first time in 38 years. Going forward, this area will be developed as a new industry innovation hub, creating synergy with the Yongsan International Business District.

Yongsan-gu, Seoul (Mayor Park Hee-young) announced on the 8th that it has posted a public notice for the district unit plan (draft) for the site of Najin Shopping Center Buildings 12 and 13, located at 2-8 Hangang-ro 3-ga within Yongsan Electronics Market.

Article 28 of the Framework Act on National Land Planning and Utilization requires hearing opinions from residents and local councils. The public inspection period is from the 8th to the 22nd of this month and can be checked on the Yongsan-gu Office website and the Urban Planning Division of the district office.

This district unit plan (draft) is the first case to designate a special planning zone within the Yongsan district unit planning area - Electronics Market district. A district official explained, “We reviewed the development plan proposed by the project implementer, Seobu TND Co., Ltd.,” adding, “It aligns with the strategy to link Yongsan International Business District and Yongsan Electronics Market to foster a new industry innovation hub, expand green spaces, and secure open pedestrian areas.”

The target site is located at 2-8 Hangang-ro 3-ga, with a site area of 5,792.4㎡. According to the project plan (draft), the building scale will be 7 basement floors and 26 above-ground floors, with a total floor area of 73,658.65㎡. The building coverage ratio is 57.42%, floor area ratio is 799.68%, and height is 143.10 meters.

ICT (Information and Communication Technology) new industry uses will be introduced to 46% of the total floor area, serving as a catalyst for transforming the area into a new industry innovation hub similar to Silicon Valley. Additionally, the plan includes greening the upper part of the Yongsan retention basin, which has low usage frequency, to enhance residents’ convenience.

Mayor Park Hee-young stated, “On the 3rd, the government and Seoul City announced a strategy for Yongsan International Business District to leap forward as one of the three major Asia-Pacific business hubs alongside Singapore and Hong Kong,” emphasizing, “The district will do its best to revitalize the outdated Yongsan Electronics Market into a new industry center that can create synergy with the Yongsan International Business District.”

The district is currently carrying out procedures to establish 11 special planning zones within the 148,844.3㎡ Electronics Market district area to materialize the ‘Yongsan International Business District - Electronics Market area linkage strategy’ announced by Seoul City.

Separately, a service project to designate approximately 315,000㎡ encompassing the Yongsan Electronics Market area as a specific development promotion district will be completed in the second half of this year, with plans to apply for selection as a specific development promotion district to Seoul City in the first half of next year.

Aerial view of the special planning zone site of Najin Shopping Center Buildings 12 and 13. Provided by Yongsan-gu.