Bureau and Corporate Funded Body
In May 2015, the Seoul Metropolitan Government announced the “Comprehensive Development Plan for the Seoul Station Area,” through which it plans to develop the Seoul Station area into a central axis of the city, connecting the industrial axis that runs from north to south and the MICE axis that runs from east to west. The Seoul Metropolitan Government will utilize the potential of the Seoul Station area, which is located at the center of Seoul and serves as the gateway to the city, with over 400,000 people coming and going every day, to turn this area into a historical, cultural, and tourist attraction and revitalize the declining local economy.
In addition to the development of the area north of Seoul Station, the Seoul Metropolitan Government is also drawing up a plan to create a MICE axis that connects the COEX and Jamsil area, Seoul Station, Sangam and Susaek area, and KINTEX in Goyang. Through the government’s effort to revive Namdaemun Market, which has been in decline for 10 years, Namdaemun Market was selected as a “Global Luxury Market” by the central government (in April) and will receive KRW 5 billion to reinvigorate the market. Moreover, the Seoul Metropolitan Government plans to come up with a customized renewal development plan for the Jungnim-dong, Hoehyeon-dong, and Cheongpa-dong areas, and will work together with local residents while moving ahead with the plan.