The area around Najin 12 and 13, a gateway and key location of Yongsan Electronics Market, will transform into a new industrial innovation hub.
On the 9th, the Seoul Metropolitan Government held the 10th Urban and Architectural Joint Committee meeting and on the 10th announced the amendment and approval of the 'Designation and Planning Decision of the Yongsan Electronics Market District Najin 12 and 13 Project Area, and Special Planning Area 5 Detailed Development Plan.'
The Najin 12 and 13 site, located at the gateway of Yongsan Electronics Market and directly linked to Yongsan Station, has excellent access to metropolitan transportation and is also adjacent to the Yongsan International Business District.
However, due to changes in the industrial structure, the vacancy rate in the Yongsan Electronics Market area has increased, and the facilities have generally aged, leading to a gradual decline in vitality across the region.
To address these issues and foster this area as Seoul's future urban center, the Seoul Metropolitan Government announced the 'Yongsan International Business District - Yongsan Electronics Market Area Linked Strategy' in June 2023.
The target site is the first area in the Yongsan Electronics Market District to have a detailed development plan approved. According to the plan, this area will feature new industrial-purpose-centered business facilities, retail spaces, and officetels ranging from 8 basement floors to 27 above-ground floors. The floor area ratio is set at 800%, with a planned height of 144 meters.
The Seoul Metropolitan Government plans to convert the upper part of the water retention facility, which has seen low usage rates, into a park and create open green spaces within the project site, thereby securing cultural and rest areas that have been lacking in the region.
The project implementer is expected to contribute approximately 51 billion won for the installation costs of public facilities, which will be invested in Seoul's balanced development and policy projects in the future. The city anticipates that the building permit process will be advanced in the second half of the year.