Seoul Mayor Oh Se-hoon emphasized that adding 10,000 housing units to the Yongsan International Business District would undoubtedly extend the project timeline by two years.
During a New Year’s press conference at Seoul City Hall on February 10, Mayor Oh stated, “The city’s proposal for 8,000 units can be implemented without delaying the original schedule. However, the Ministry of Land, Infrastructure and Transport insists on adding 2,000 more units. This isn’t about compromise; it’s about choosing between a two-year delay or sticking to our initial timeline.”
Urban planning experts agree that if the Ministry increases the floor area ratio to accommodate 10,000 units, it will necessitate expanding infrastructure like roads and parks. This change, coupled with various committee reviews on transportation, environment, and disaster prevention, could take at least 2-3 years. The city’s original 6,000-unit plan already involved about 30 different services.
Another challenge is finding suitable school sites. Mayor Oh revealed, “The Ministry hasn’t identified ideal locations for additional schools. They’re considering nearby areas, but the three sites we’ve found are unlikely to be viable.”
One potential site identified by the Ministry is on an oil storage facility, another is in a maintenance area, both presenting land acquisition difficulties. The third is private property, which may require a time-consuming compulsory purchase if the owner refuses to sell.
Mayor Oh Se-hoon fielding questions from reporters during the New Year\’s press conference at Seoul City Hall on February 10.” />The Mayor added, “The Ministry will consult with the Education Office, but scrutinizing the details is challenging. Moreover, local residents, including those from Yongsan District Office, oppose the Ministry’s supply plan.”
A significant concern is that increasing housing units could compromise the area’s intended purpose as an International Business District.
Mayor Oh explained, “With 10,000 units, the ratio of business to residential areas would shift from 7:3 (with 6,000 units) to 6:4 (with 8,000 units), and potentially to 5:5. This gradual shift would undermine our original goal of attracting Asian headquarters of global corporations and major tech companies, as initially discussed with the government.”
While there’s no universal standard for business-to-residential ratios, a 7:3 split is generally considered ideal. For comparison, New York’s Battery Park City has a 32.1% residential ratio, Hudson Yards 35.2%, and Tokyo’s Azabu Dai Hills 36.4%.
Most Commented