Foundation for the Parkification of Sewoon Shopping Mall Group Established... 96.8 Billion Won Secured for Shopping Mall Group Acquisition

[Financial News] The creation of green space within the Sewoon Redevelopment Promotion Zone located in the center of Seoul is being promoted. 
Seoul City announced on the 22nd that it had modified and approved the amendment to the redevelopment promotion plan for Zone 4 of the Sewoon Redevelopment Promotion Zone at the 7th Urban Redevelopment Committee meeting held on the 21st.
Seoul City is pursuing the acquisition of effective green space in the city center by securing approximately 136,000㎡ of green space within the Sewoon Zone in stages, in accordance with the 'Sewoon Redevelopment Promotion Plan', which reflects the 'Green Ecological Urban Center Re-creation Strategy' announced in April 2022.
As part of this, the approved agenda plans to transform Zone 4 into an open green space for citizens by creating approximately 13,100㎡ of open green space on private land. Additionally, Seoul City has secured approximately 96.8 billion won for the acquisition of the shopping mall group to establish the foundation for the creation of an urban park.
Seoul City also plans to promote sustainable vitality in the urban economy by integrating various industries through the newly created public rental shopping mall (approximately 160 units) to support the resettlement of existing urban industry tenants.
Namjun Jo, head of the Seoul City Urban Space Headquarters, stated, "With this plan change, it is expected that a green space where people gather will be created in Sewoon Zone 4," adding, "We will do our best to implement a north-south green axis from Jongmyo to Cheonggyecheon to Namsan, which was previously blocked by the Sewoon Shopping Mall Group, through the complete creation of an urban park."




going@fnnews.com Choi Gayoung Reporter