A former concrete plant site adjacent to Seoul Forest (Image courtesy of Seongdong District)
SEOUL, Feb. 26 (Korea Bizwire) — Seongdong District in Seoul announced on February 25 that preliminary negotiations have concluded for the transformation of a former concrete plant site adjacent to Seoul Forest into what officials envision as a new cultural hub for the city.
The development marks the first case of “architectural innovation pre-negotiation” in the private sector, an initiative launched by the Seoul Metropolitan Government in December 2023. The final agreement was reached on February 19.
The site, which housed a Sampyo Remicon concrete factory for approximately 45 years, has long been targeted for redevelopment. The transformation gained momentum in 2015 when a factory relocation committee was formed, and more than 150,000 residents — over half of Seongdong’s population — signed a petition supporting the move.
Following a 2017 agreement between Seongdong District, the Seoul Metropolitan Government, Sampyo Industry, and Hyundai Steel, the factory was finally demolished in August 2022.
Under the new agreement, the site’s zoning will be changed from a Type 1 general residential area to a commercial district. The planned development features a 77-story mixed-use complex with a total floor area of 447,913 square meters, incorporating office space, hotels, cultural facilities, and retail establishments.
The project includes plans to better integrate the development with Seoul Forest through an elevated pedestrian park and underground walkways. The building’s observation deck will be open to the public.
Of the 604.5 billion won in public contribution funds generated by the increased floor area ratio, approximately 442.4 billion won will be allocated to infrastructure improvements to alleviate traffic congestion around Seoul Forest and to establish what officials describe as the world’s largest “unicorn startup hub.”
The remaining 162.9 billion won will be split between Seongdong District (48.9 billion won) and the Seoul Metropolitan Government (114 billion won) for the renovation of the Seoul Forest area into a waterfront green space. The city government plans to launch a design competition for the Seoul Forest Area Renewal Master Plan.
The district has been conducting feasibility studies since September 2024 for the development of a large-scale multipurpose performance venue, dubbed the Culture Hub, aimed at expanding cultural facilities in Seoul’s northeastern region.
“Seongsu-dong is recognized as one of Seoul’s most attractive districts, with unlimited potential and global competitiveness,” said district head Chong Won-O. “Leveraging our waterfront and green resources, it will evolve into a culture hub that will elevate Seongsu’s status on the world stage.”
M. H. Lee (mhlee@koreabizwire.com)
