Daishin Securities affiliate Daishin Asset Trust said on the 24th that it signed a memorandum of understanding (MOU) with the promotion preparation committee to push forward the "Changsin District 9 redevelopment project."
The project site, centered on 23-606 Changsin-dong in Jongno District, is clustered with the Blue House, government complexes, the headquarters of major corporations, and numerous financial institutions.
The redevelopment area totals 143,148 square meters and is expected to be reborn as a large-scale residential complex with about 2,700 households in five basement levels to 29 above-ground floors. With Changsin Station, Dongmyo Station, and Dongdaemun Station nearby, the transportation infrastructure is strong, and green space access is in place with Naksan Park, Heunginjimun Park, and Sungin Neighborhood Park.
Daishin Asset Trust plans to support stable and swift project progress from the early stages of implementing the Changsin District 9 project, leveraging its professional management capabilities.
Executive Director Lee Hong-hun of Daishin Asset Trust said, "With large-scale redevelopment projects underway across the Changsin and Sungin area, including Changsin District 9, the future value of Jongno District is expected to rise further," adding, "With the locational advantage of being in central Seoul and excellent transportation, education, and daily-life infrastructure, it will be possible to form a large residential belt in the future."