In a press briefing on Tuesday, 26 July 2022, Seoul Mayor Oh Se-hoon said the local government will develop the 493,000 square meter abandoned train maintenance depot site currently owned by SH and Korail into a futuristic landmark district comprising international business, residential and cultural complexes by 2030s.
According to the city’s new vision, around 70 percent of the buildings in the district will be used for non-residential purposes with a total of 6,000 housing units. The area will accommodate commercial venues for MICE (meetings, incentives, conferences, and exhibitions), as well as hotels, e-sport facilities and other cultural facilities to satisfy the area’s role as a multifunctional city with both work and residential functions.
The city government said it will divide the area into different sectors for separate development to reduce urban development risks. The city authorities prospect that skyscrapers taller than 554 meter Lotte World Tower can be built in the Yongsan area with minimized building height restrictions.
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