A project to build a mixed-use complex with up to 79 floors on the former Sampyo Ready-mixed Concrete site in Seongsu-dong, Seongdong District, Seoul is moving into full swing.
The Seoul Metropolitan Government said on the 3rd it will finalize and announce on the 5th the "Detailed Development Plan for the Seoul Forest District Unit Planning Area and the Sampyo Ready-mixed Concrete Special Planning District" at 683, Seongsu-dong 1-ga.
According to the district unit plan, the site will be developed into a mixed-use complex that integrates office, residential, and commercial functions. To strengthen Seongsu's office functions, a mandatory office facility ratio of 35% or more will apply. Residential facilities (up to 40%) to realize proximity between work and home, as well as commercial and cultural facilities, will also be included.
About 605.4 billion won in public contributions secured through prior negotiations will be invested in resolving traffic issues, expanding infrastructure, and building a 53,000-square-meter "Unicorn Startup Hub" to support startup growth. Through this, the plan is to make Seongsu-dong the "Silicon Valley of Korea."
The city plans to carry out land decontamination work within the year, then, after swift architectural deliberations and permitting procedures, break ground as early as the end of the year.
Oh Se-hoon, who inspected the site that day, said, "Push forward swiftly with the landmark project that will drive the competitiveness of Seoul's future."
Oh said, "The Sampyo Ready-mixed Concrete site, which had long drifted amid residents' hardships from noise, dust, and traffic congestion and repeatedly scrapped project plans, met a breakthrough in the 'prior negotiation system,' found a 'win-win-win' answer where corporations, the administration, and citizens all win, and has been reborn as a 'global future office district.' He added, "Not only in Seongsu-dong but by using the prior negotiation system as a 'game changer' that transforms outdated urban bases across the city into stages for future growth, we will carry this through to expand into citywide urban innovation across Seoul and fulfill our responsibility to the end."