Key Investment Projects

A A
  • New growth engine R&D cluster
  • Seoul-type creative economy
  • Jobs • Industrial Hub
  • Culture • Green • Recreation Space

  • 01Creation of 「LG Science Park」 at the Magok R&D District

    Creation of 「LG Science Park」 at the Magok R&D District

    Location

    Magok District R&D DP2·3, D22, D25, Magok-dong, Gangseo-gu

    Area

    Lot area: 176,707m²

    Gross area: 1,108,603m²

    Investment Volume

    2012-2020: A total of KRW 3,749.1 billion

    Input source
    Type Before 2015 2016 2017 After 2018
    Private 1,360,800 727,600 633,200 1,027,500
    Municipal        

    (Unit: KRW million)

    Investment Direction

    10 affiliates of LG Group, including LG Electronics, will be housed in the park

    Tenant businesses:LG Electronics, LG Chem, LG Innotek, LG Life Sciences, LG Display, LG Hausys, LG U+, LG Household & Health Care, LG CNS, Serveone

    Expected Effects

    [Expected annual economic benefits]

    Increasing production: KRW 31.6 trillion

    Generating added value: KRW 10 trillion

    Creating jobs: 1.12 million people

    Schedule

    2014. Oct: Starting construction

    The second half of 2017: Expected primary move-in

    2020: Completion and the expected secondary move-in

    Managed by

    Magok Management Bureau, Magok Business Division

  • 02Fostering the Yangjae R&D Innovative District

    Fostering the Yangjae R&D Innovative District

    Location

    Area near Yangjae-dong, Seocho-gu

    Area

    Site of the grain wholesale market (Lot area: 32,094㎡)

    ※ Estimating the area and assessing the functions of the facilities which will be housed in by developing practical strategies in 2016

    Investment Volume

    Expected to be decided after the methods of development are confirmed in 2017

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private        
    Municipal 200 890    

    (Unit: KRW million)

    Investment Direction

    Support for the expansion of R&D facilities by creation of a management plan according to urban planning tailored to the specifics of the site.

    Making the supporting plan after designating the particular development district or specialized district.

    Building the anchor facilities for R&D, including leasing areas at a discount using city land.

    Expected Effects

    Increasing the vitality of the local economy by reinvigorating the self-sustainable ecosystem of the research institutes cluster.

    Attracting top domestic and overseas companies/institutes/talents.

    Creating more jobs at the R&D centers and other jobs through company growth.

    Schedule
    Investment Volume
    Type 2015 2016 2017 2018
    Mar. June. Sep. Dec.
    Countermeasure in terms of urban planning Detailed management plans according to site types (Guidelines on development) Re-planning the district units, consultation on the development of the private property, implementation of district designation procedure
    Establishment of public support facilities Relocation of grain wholesale market Review on the transfer of site Transfer feasibility services Confirming the transfer of site, formulating a plan, for transfer, securing budget Land purchase, Design/construction Completion of transfer
    Establishment of support facilities Review on the site for use Establishing support facilities, devising strategies on the details, consulting with the MOSF on the integrated development Plan to form the park facilities Design/construction
    Managed by

    Economic Planning Headquarters, Economic Policy Division, Urban Planning Bureau, Urban Planning Division

  • 03Creation of the Hongneung Bio·medical R&D hub

    Creation of the Hongneung Bio·medical R&D hub

    Location

    117-3, Hoegi-ro, Dongdaemun-gu, the former Korea Rural Economic Institute (KREI)

    Area

    Lot area: 21,937㎡

    Gross area of facilities: three buildings, a total of 7,989㎡

    Investment Volume

    (2015-2017) a total of KRW 17.4 billion (※operating costs separated)

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private        
    Municipal 300 2,691 14,432  

    (Unit: KRW million)

    Investment Direction

    Creation of the biomedical R&D hub and expansion of the facilities in the Hongneung region into three phases (Dot-Line-Area)

    • PhaseⅠ(Dot): Utilizing the researchers of the KREI, creating the biomedical R&D hub (2015-2017)

    • Supports: offering the area at a cheaper rate, permits for public equipment, support for research, protection for the IP, foreign investment, industry-academic cooperation

    • PhaseⅡ (Line): Forming the Biomedical R&D street in the Hoegi-ro (from 2017)

    • Phase Ⅲ (Area): Forming affiliates institutions (universities, hospitals, companies, research institutes) and Biomedical R&D cluster

    ※ Providing support for company clusters by promoting the designation of the Hongneung Biomedical Specialized District: Jan. 2016

    Expected Effects

    Creating quality jobs by forming the Hongneung innovative Biomedical R&D cluster.

    Facilitating transitional research through the association between research centers in the Hongneung District and hospitals, revitalizing technology commercialization.

    Schedule

    Creation of the Hongneung Biomedical R&D hub: From January, 2016 to the first half of 2017.

    Formation of the Hongneung Science Culture Creative Street and designation of the specialized development district: Beginning January, 2016

    Managed by

    Economic Planning Headquarters, Regional Industry Clusters Development Division

  • 04Creation of the Gaepo Digital Innovation Park

    Creation of the Gaepo Digital Innovation Park

    Location

    416(Gaepo-dong) Gaepo-ro, Gangnam-gu

    Area

    Lot area: 16,077.9㎡

    Facilities: Three buildings (New, Main, Gym) 6,178.85㎡

    Investment Volume

    A total of KRW 12,525,000,000

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private        
    Municipal 7,572 4,953    

    (Unit: KRW million)

    Investment Direction

    Creation of the 24-hour public space dedicated to the establishment of a creative ICT ecosystem by utilizing the site of the former Japanese school in Gaepo-dong (renovation of the existing facilities)

    Expected Effects

    Creating a new growth engine through the convergence of various fields related to ICT and fostering creative talents.

    Schedule

    2015. 12-2016.9: Recruiting and selecting tenants (institutions, businesses)

    2015. 12-2016.9: Ordering the renovation and implementation.

    2016. 9: Opening the facilities.

    Managed by

    Economic Planning Headquarters, Digital Industry Division

  • 05Creation of the International Exchange Complex in the Southeast of Seoul

    Creation of the International Exchange Complex in the Southeast of Seoul

    Location

    Area near 167 Gangnam-gu and 10 Jamsil-dong, Songpa-gu

    Area

    Appr. 720,000㎡ (Planned area: Appr. 1,660,000㎡)

    Investment Volume

    A total of KRW 1,509,027,000,000

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private       1,500,000
    Municipal 2,575 3,352 2,000 1,000
    Investment Direction

    • COEX: the hub for international conventions

    • Site of Hyundai Motor Group GBT: Global business and MICE complex

    • Jamsil Sports Complex: Multi-purpose space including sports, culture, entertainment, exhibits, and conventions

    • Han River and riverside: Waterfront and green space for citizens’ enjoyment

    • Underground of the Yeongdong Bridge: Establishment of transport networks and integrated transfer system

    • Seoul Medical Center and former Korean Appraisal Board: Space for the International and MICE complex, multi-purpose facilities for underprivileged citizens

    Expected Effects

    Establishment of a space where the city can strengthen its competitiveness by reinforcing the functions of MICE global businesses.

    Creation of globally renowned places by forming a public space in the Han River area and making networks between regions.

    Enhancement of accessibility by building a transportation system centered on public transportation.

    Schedule

    2014-2023

    Managed by

    Urban Renewal Headquarters, Southeast Region Development Bureau

  • 06Fostering Sangam DMC as the creative industrial hub

    Fostering Sangam DMC as the creative industrial hub

    Location

    Sangam-dong Housing Site Development District (Sangam-dong area)

    Area

    569,925㎡ (33.6% of 1,697,888㎡of Sangam-dong Housing Site Development District)

    Business Area: 335,655.4㎡, Public Area: 234,269.6㎡

    Investment Volume

    A total of KRW 1,547,241,000,000

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private 1,022,713 434,105 89,081  
    Municipal   672 670  

    (Unit: KRW million)

    Investment Direction

    Offering a site for the creation of the world’s best digital media industry cluster.

    • Target industry: Digital media entertainment (M&E) businesses, including broadcasting, movies, games, and IT.

    Fostering the M&E industry cluster and managing the leading companies.

    Forming DMS to invigorate DMC, culture, and networks between the tenant businesses.

    Expected Effects

    Creating world-class digital media and entertainment clusters led by digital technologies and media businesses.

    News media and media related companies: 13, IT companies: 9, Public facilities: 16, Hotels and other facilities: 10

    Schedule

    Expected to officially announce the site of landmarks, educational facilities, and state-of-the-art offices in the first half of 2016.

    Managed by

    Economic Planning Headquarters, Regional Industry Clusters Development Division

  • 07G-Valley, the Second Phase, “Bisang” Project

    G-Valley, the Second Phase, “Bisang” Project

    Location

    Guro-dong, Guro-gu & Gasan-dong, Geumcheon-gu, Seoul

    Area

    1,922,000㎡– Tenant Businesses: 9,623 (107 Knowledge Industry Centers)

    * ComplexⅠ(446,280㎡), ComplexⅡ(386,776㎡), ComplexⅢ (1,087,603㎡)

    Investment Volume

    A total of KRW 243,851,000,000

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private        
    Municipal 36,114 37,203 94,226 76,308
    Investment Direction

    Developing the industry through the convergence of industries and companies via IoT.

    Making a G-Valley investment fund for companies.

    Hosting the SME Fair (Expanding G-Fair).

    Improving the industrial infrastructure, including housing, child care, roads, and transportation system.

    Improving the image of G-Valley and its brand.

    Expected Effects

    Strengthening the industrial competitiveness by improving the business environment of G-Valley.

    Creating jobs by enhancing its image and branding as a cutting edge industrial cluster where youth gather.

    Schedule

    2016.1 -2016.3: Make a business plan according to the types of business

    2016.2 -: Establish the businesses

    2016. 6/ 2016. 12: half-yearly review and assessment on each business unit

    Managed by

    Economic Planning Headquarters, Regional Industry Clusters Development Division

  • 08Creation of the New Economic Hub in Chang-dong·Sanggyeo

    Creation of the New Economic Hub in Chang-dong·Sanggyeo

    Location

    Area near Chang-dong, Dobong-gu, and Sanggyeo-dong, Nowon-gu

    • Chang-dong transfer parking lot, site of culture and sports facilities, NHHanaro Club, Chang-dong Garage, Dobong License Test Center

    Area

    970,000㎡ (large-scale area: 380,000㎡ /Jungnangcheon: 190,000㎡ / existing industrial district: 400,000㎡)

    Investment Volume

    A total of KRW 996.13 billion

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private       480,000
    Municipal 13,479 24,109 153,726 324,82016
    Investment Direction

    • Phase Ⅰ: site available in short-term – booming the development through leading industries.

    • Site of transfer parking lot: Creating “Platform Changdong 61” for booming businesses, building facilities for startups, culture and arts in 2017.

    • Site of culture and sports facilities: Building a cultural complex, “Seoul Arena,” a private investment project.

    • Phase Ⅱ: Core businesses including the development of Garage.

    Expected Effects

    Creation of 1,000 startups ⇒ 80,000 jobs (direct employment: 42,000)

    Improvement of cultural infra and city view ⇒ Enhancement of the quality of life

    Introduction of various functions to the metropolitan area and increase in the confidence of local residents ⇒ Contribution to achieving the balanced growth of Seoul

    Schedule

    Seoul Arena and Culture and Arts Hub: Beginning of construction at the end of 2017, Opening in February, 2021.

    Relocation of Chang-dong Garage and the license test center: Expected to be completed at the end of 2017, developed after 2012

    Building Metropolitan Complex Transfer Center, the reconstruction of the Dongbu Expressway, KTX extension: After 2022

    Managed by

    Urban Regeneration Headquarter, Northeast Region Development Bureau, Northeast Region Development Division

  • 09Regeneration Project of Sewoon Sangga area

    Regeneration Project of Sewoon Sangga area

    Location

    PhaseⅠ: Jongmyo-Sewoon Sangga area (Sewoon·Cheonggyeo·Daelim)

    PhaseⅡ: Sewoon Sangga area (Sampoong·Poonggeon·Sinseong·Jinyang)-Namsan

    Area

    Section of PhaseⅠ: 50-55m in width, L=420m

    Section of PhaseⅡ: Appr. 50-55m in width, L=450m

    Investment Volume

    Expenses of Section of PhaseⅠ: KRW 38.6 billion

    Expenses of Section of PhaseⅡ: After feasibility test of 2016 and public opinion assessment (2016-2019)

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private        
    Municipal 4,306 20,230 14,064  
    Investment Direction

    (Walk regeneration) Restoring the value of a multi-dimensional city, reconnecting the pedestrian bridge

    • Revitalizing Sewoon Plaza, pedestrian bridge, deck, and platform cell

    (Industry regeneration) Serving as the center of the creative manufacturing industry in the city

    • Establishing Sewoon Cooperation Support Center, Operating Sewoon Living Lab, Attracting strategic institutions

    (People regeneration) Restoring the leading role in the development

    • Hosting the Again Sewoon Citizen Conference, strengthening local resident capacity through the Residents’ Community Project

    Expected Effects

    Revitalizing the city’s culture tourism industry by creating the dynamic walk system.

    Laying the ground for the restoration of Sewoon Sangga by offering a picturesque city view from Jongmyo to Namsan and advertising the city’s landscape.

    Schedule

    2016. 2: Beginning of construction for the public space

    2016. 10: Completion of Again Sewoon Plaza

    2016. 11: Building Sewoon Cooperation Support Center

    2017. 5: Completion of the public space (maintenance of the deck)

    Managed by

    Urban Regeneration Headquarters, Historic City Center Regeneration Division

  • 10Creation of Namsan Animation Town

    Creation of Namsan Animation Town

    Location

    Toegye-ro 20 gil and Sopa-ro, Jung-gu

    • Seoul Animation Center: 126, 130 Sopa-ro, Jung-gu (Yeojang-dong 8-20, 8-145)

    Area

    Total square: 100,000㎡

    Reconstruction of Seoul Animation Center

    • Lot area: 8,367㎡

    • Gross area: 21,000㎡ (three stories above ground, three stories underground)

    Investment Volume

    A total of KRW 84,262,000,000

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private        
    Municipal 6,340 4,087 54,835 19,000

    (Unit: KRW million)

    Investment Direction

    Reconstruction of Seoul Animation Center for the anchor facilities of the Animation town.

    Boosting the tourism industry around Seoul’s Cartoon Street, where visitors experience cultural works.

    Creating the clusters for the “imagination industries,” which are based on cultural content.

    Expected Effects

    Supporting cultural content businesses and attracting a large number of visitors to the region

    • Support 150 companies, 5 million visitors annually

    Reinvigorating the tourist attractions in Myeong-dong and Namsan by adding cultural content.

    Schedule

    2016. 3 -2017. 1: Basic and working design

    2017. 5 -2018. 6: Implementation of reconstruction of the Seoul Animation Center

    2018. 7: Opening of the Seoul Animation Center

    Managed by

    Economic Planning Headquarters, Cultural Convergence Economy Division

  • 11Seoul Station 7017 Project

    Seoul Station 7017 Project

    Location

    Seoul Station Overpass (Toegye-ro in Jung-gu, Gwanghui-dong 2ga – Bongrae-dong 2ga)

    Area

    656 flower pots every season, 20 facilities, including cafes and libraries, 4 observatories on the 1-kilometer (939 m) overpass

    Connecting path to Seoul Station Plaza, Seoul City Wall, Jungnim-dong, Hoehyeon Station, and nearby buildings.

    Investment Volume

    A total of KRW 38 billion

    Investment Volume
    Type Before 2015 2016 2017 After 2018
    Private        
    Municipal 105 220 55  

    (Unit: KRW million)

    Investment Direction

    • Restoring the old overpass, which is nonfunctional for cars, into a pedestrian walkway and boosting the economy around the area

    • Actively supporting the revitalization of the local economy, such as Namdaemun Market, the sewing industry, and the Yeomcheon Shoe Street

    • Implementing regeneration projects specifically designed for regions harnessing cultural resources around Seoul Station

    Expected Effects

    Boosting the vitality of the old area around Seoul Station by attracting visitors and invigorating the local economy.

    Turning Seoul into a “Walk-friendly City,” leading the culture of walking in the city.

    Forming green areas by connecting nearby parks including Namsan, the Seoul City Wall, and Inwangsan Mountain.

    Transforming landmarks into tourist attractions using the cultural resources of the regions around Seoul Station.

    Schedule

    2015. 12: Closing of the Seoul Station Overpass

    2015. 12 ~ 2016. 4: Demolition of the span of the overpass

    2016. 3: Repair and reinforcement of the overpass and beginning of landscaping

    2016. 6: Beginning of construction

    2017. 4: Opening to the public

    Managed by

    Seoul Station Area Development Planning Bureau

  • 12Restoration of Mapo Oil Reserve Base and creation of a park

    Restoration of Mapo Oil Reserve Base and creation of a park

    Location

    San 53-1 Seongsan-dong, Mapo-gu

    Area

    140,022㎡ (Park: 101,510㎡, Temporary parking lot 35,212㎡, Approaching path: 3,300㎡)

    Investment Volume

    A total of KRW 41,253,000,000

    Investment Volume
    Type 2015 2016 2017 After 2018
    Private        
    Municipal 2,000 10,319 25,707  

    (Unit: KRW million)

    Investment Direction

    Restoring the “industrial legacy and the land of the Mapo Oil Reserve Base, a forgotten place,” into an eco-friendly environmental/cultural space which will represent the Green City of Seoul.

    Expected Effects

    • Providing the successful regeneration cases of maximizing the industrial legacy by developing the brand and content, thereby boosting the governance required to attract citizens’ participation in the operation and creating jobs

    • Creating jobs (total 47,300 people): Construction jobs for 40,000 people (1205.12.30 -, for 14 months), annul maintenance: 7,300 people (20 people per day)

    Schedule

    2014. 10 – 2015. 12: Basic and working design

    2016. 1 – 2017. 4: Implementation of construction

    2017. 4: Completion

    Managed by

    Green Seoul Bureau, Park Creation Division