The Seoul Metropolitan Government announced on March 13 that it has approved modifications to the Teheran-ro District Unit Plan. (Image courtesy of Yonhap)
SEOUL, March 14 (Korea Bizwire) — Seoul’s iconic Teheran-ro, the bustling thoroughfare that cuts through the heart of Gangnam District, will soon see dramatic changes to its skyline as city officials remove height restrictions and allow for dramatically increased density in new developments.
The Seoul Metropolitan Government announced on March 13 that it has approved modifications to the Teheran-ro District Unit Plan, permitting floor area ratios of up to 1,800% with no height limitations for new buildings along the corridor stretching from the Gangnam Station intersection to the POSCO intersection.
The area, already a prime business district, enjoys excellent public transportation access, including Seoul Metro Line 2, the Shinbundang Line, planned GTX-A and C lines, and extensive bus networks. Since its last rezoning in 2009, the district has been elevated to “urban center” status in Seoul’s master plan and has emerged as one of the city’s premier global business and commercial hubs.
In what marks Seoul’s fourth such designation after Myeong-dong, Sangam-dong, and Yeouido, the new plan introduces a flexible zoning system that allows for upzoning to Central Commercial District status. Developments incorporating environmentally friendly elements and innovative design features can qualify for the maximum floor area ratio of 1,800% without height restrictions, a move aimed at encouraging the construction of prime office space unique to Gangnam.
The city has also substantially increased the base floor area ratio in general commercial zones from 600% to 800%, with bonus ratios now reaching 880%, up from the previous 800%.
“Breaking free from regulatory constraints will secure new growth engines for Teheran-ro,” said Cho Nam-jun, head of Seoul’s Urban Space Planning Bureau. “We expect this to enhance the vitality of Gangnam’s city center and further boost its global competitiveness.”
The plan includes provisions for building renovation, environmentally friendly spaces, indoor public areas to address climate change, and improved pedestrian environments. The revised district unit plan will be finalized after a public review period.
At the same meeting, the committee also approved plans for a 42-story residential complex in Yeongdeungpo’s Singil-dong, which will include 1,228 units, with 322 designated as long-term lease public housing near the Seoul Regional Military Manpower Administration site.
M. H. Lee (mhlee@koreabizwire.com)
