HDC Hyundai Development Company noted on the 28th that it proposed a "consolidation integrated development strategy" that complies with the Seoul Metropolitan Government's "linkage" guidelines in the bidding for the full first zone at the Yongsan maintenance depot.
This aims to promote development that integrates residential, office, commercial facilities, history, parks, and underground infrastructure around Yongsan Station. Currently, the area around Yongsan Station is densely populated with residential, office, and commercial facilities, but faces challenges in activating business facilities and shopping due to its separation from the station.
HDC Hyundai Development Company is the only private operator mobilizing development rights and operational assets, such as ▲ Yongsan Station I-Park Mall ▲ underground development of the park in front of Yongsan Station ▲ development of the Yongsan Railroad Hospital site, to connect the full first zone of the Yongsan maintenance depot and Yongsan Station. Recently, it has also been in discussions with the Seoul Metropolitan Government regarding the development of the Yongsan International Business District.
This integrated implementation plan complies with the explanation that the Seoul Metropolitan Government specified in the "basic plan for the Yongsan maintenance depot urban development zone" and the submission guidelines, requiring an "organic linkage plan with Yongsan Station Square, Shinyongsan Station, Hangangro, railroad sites, and public pedestrian axes."
The development project for the "underground space of the park in front of Yongsan Station" being pursued by HDC Hyundai Development Company is also a positive factor as its scope expands according to the transfer plan for the GTX-B station.
HDC Hyundai Development Company plans to connect the two stations with an underground passage to alleviate the inconvenience for commuters caused by the separation between Yongsan Station and Shinyongsan Station (Line 4).
The company has secured an additional sale area of 5651 pyeong for residential and non-residential facilities, taking this into account. This increased the sale revenue by about 375.5 billion won compared to the union plan and reduced the burden on union members. It also offered a striking condition of substitutive repayment in case of unsold units.
HDC Hyundai Development Company has benchmarked overseas cases that connect infrastructure severed by railways to public spaces and commercial office facilities, such as the Hudson Yards in New York and Roppongi Hills in Tokyo, enhancing the potential for actual application.
In particular, Roppongi Hills is a mixed-use facility directly linked to Roppongi Station on the Hibiya Line, representing a case that maximizes connectivity and attraction. By attracting the "Grand Hyatt Tokyo" within the complex, it absorbed global demand for MICE, luxury accommodation, and global finance, thereby increasing the sales potential and asset value of high-end office and commercial facilities. HDC Hyundai Development Company proposed attracting the Park Hyatt Hotel to the Yongsan maintenance depot.
The redevelopment of the full first zone of the Yongsan maintenance depot is a large-scale urban renewal project estimated at about 1 trillion won, being promoted in the area of Hangangro 3-ga in Yongsan-gu, Seoul, which includes 12 high-rise buildings ranging from underground six floors to 38 floors, 777 apartments, 894 officetels, and commercial and neighborhood facilities.