Yongsan Electronics Market to Become a New Landmark... Reborn as an Innovation Hub for New Industries

Provided by Seoul Metropolitan Government. Location map of the Yongsan Electronics Market area.
Provided by Seoul Metropolitan Government. Location map of the Yongsan Electronics Market area.On the 30th, Seoul Metropolitan Government announced that at the 5th Subcommittee of the Seoul City Urban and Architecture Joint Committee held on the 29th, the proposals for the designation and planning of the Najin Mall 19 and 20 site district and the detailed development plan for Special Planning District 10 within Yongsan Electronics Market were approved with modifications. The project site is located on the eastern side of Yongsan Electronics Market.
Selected as part of the Urban and Architectural Design Innovation Project, the new landmark will be based on an architectural design themed around the 'symbiosis' of humans and nature. According to the newly approved plan, the site will feature a 28-story building above ground (total floor area of 96,708 square meters, floor area ratio 1000%) for new industries such as Artificial Intelligence (AI) and Information and Communication Technology (ICT), as well as cultural and assembly facilities like galleries.
The development will include a multi-level sky park from the first floor to the rooftop, open spaces and green areas at the lower levels, providing residents with places for relaxation and leisure. 4 billion KRW in public facility installation costs contributed by the project developer will be allocated to Seoul Metropolitan Government’s balanced development and policy initiatives.
The city expects to proceed with building permits in the first half of next year. Meanwhile, with the inclusion of Najin Mall Buildings 19 and 20 (Special Planning District 10), concrete development plans have now been established for six out of the eleven project districts in the Yongsan Electronics Market area, including Najin Mall Buildings 10 and 11 (Special Planning District 4), 12 and 13 (Special Planning District 5), 14 (Special Planning District 6), 15 (Special Planning District 7), and 17 and 18 (Special Planning District 8).
Including two additional districts currently preparing development plans, eight out of eleven project districts are now moving forward with development. The six districts with finalized plans will accommodate seven office buildings and one officetel, totaling 440,000 square meters of floor space.
This transformation is expected to strengthen the area’s status as a future urban center of Seoul, in connection with the Yongsan International Business District (YIBD). Furthermore, the project will enhance public value through various contributions, such as the installation of Veterans Hall, Public Parking Lot, and other public facilities.
Six indoor open spaces (about 3,900 square meters) and nine outdoor public plazas (about 5,600 square meters) will be created, providing year-round urban rest areas. Jo Namjun, Director-General of Urban Space at Seoul Metropolitan Government, stated, "With the approval of this detailed development plan, the blueprint for the redevelopment of the Yongsan Electronics Market area is steadily taking shape.
We expect this area to emerge as an innovation hub for new industries, further enhancing Seoul’s urban competitiveness.
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Provided by Seoul Metropolitan Government. Location map of the Yongsan Electronics Market area.
ming@fnnews.com Jeon Min-kyung Reporter