Najin Buildings 19 and 20 in Yongsan to Be Reborn as 28-Story Office Facility [Real Estate AtoZ]

A new industrial office facility with a maximum height of 28 stories will be constructed on the site of Najin Buildings 19 and 20 within Yongsan Electronics Market. With this, development plans have now been finalized for half of the 11 project zones in the Yongsan Electronics Market area.

Location map of Najin Buildings 19 and 20 (Special Planning Zone 10) within Yongsan Electronics Market. Provided by Seoul City.

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The Seoul Metropolitan Government announced that the 5th Urban and Architectural Joint Committee’s delegated subcommittee has approved, with modifications, the “Designation and Planning Decision (Draft) for the Unit Planning Zone for Najin Buildings 19 and 20 in the Yongsan Electronics Market District, and the Detailed Development Plan (Draft) for Special Planning Zone 10.”

With this planning decision, a new industrial-use (AI, ICT, etc.) office facility and cultural and assembly facilities (such as a gallery) will be established, with a total floor area of 96,708 square meters across 7 basement levels and 28 above-ground floors.

An aerial public park will be created, spanning from the first floor to the rooftop, while open spaces and green areas on the lower levels will be utilized as rest areas for local residents.

Additionally, the project was selected through the Urban and Architectural Design Innovation Project competition, and an architectural design themed on “Symbiosis” between humans and nature will be applied. The city expects that the building permit process will proceed in the first half of next year.

A bird's-eye view of Najin Buildings 19 and 20 (Special Planning Zone 10) within Yongsan Electronics Market. Provided by Seoul City

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The installation cost of public facilities, approximately 72.4 billion won, which will be contributed by the project developer, will be allocated to Seoul’s balanced development and policy projects in the future.

Including Najin Buildings 19 and 20, development plans have been specified for 6 out of the 11 zones in the Yongsan Electronics Market area: Najin Buildings 10 and 11 (Special Planning Zone 4), 12 and 13 (Special Planning Zone 5), 14 (Special Planning Zone 6), 15 (Special Planning Zone 7), and 17 and 18 (Special Planning Zone 8). Including two additional zones where development plans are being prepared, a total of 8 zones are currently undergoing development projects.

In the 6 zones where development plans have been finalized, seven office buildings and one officetel building will be constructed, with a total floor area of 440,000 square meters. In the future, the area will be transformed into a new industrial office complex linked to the Yongsan International Business District. The city has ensured public value through various contributions, including the installation costs for facilities such as the Veterans Hall, public parking lots, and other public amenities, and also plans to create urban rest spaces.

Cho Namjoon, Director-General of the Urban Space Headquarters at the Seoul Metropolitan Government, stated, “With the decision on this detailed development plan, the blueprint for the development of the Yongsan Electronics Market area is gradually being completed. We expect this area to be reborn as a new industrial innovation hub that will strengthen Seoul’s urban competitiveness.”

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