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  • Seoul Preserves and Regenerates Sewoon Plaza to Establish Urban Manufacturing Industry Hub

  • SMG 2414

    Seoul will shift Sewoon Plaza’s management directions, from “development and repair” to “preservation and regeneration.”

    The ultimate goal is to transform it into an urban manufacturing industry hub, where the preservation of the existing industrial ecosystem mingles with innovation. In line with the previous successful settlement of a portion of Sewoon Plaza (seven buildings including Sewoon Sangga and Jinyang Sangga) through the regeneration that caused an influx of young people and the hip-jiro craze, Seoul has plans to vitalize the stagnant area through industrial regeneration, and expand its effects to the neighborhood.

    Seoul will not only preserve the existing industrial ecosystem by revitalizing the urban manufacturing industry in Sewoon Plaza to contain the local history and identity, but also make efforts to innovate the existing industry by fostering new industries. To create industrial footholds and programs for the resettlement of existing small business owners and the cultivation of new industries, the public sector will invest resources and the vacant land will be put to use.

    First, to this happen, 152 unrepaired zones of which the project completion deadline has passed, out of all 171 maintenance zones in the Sewoon Redevelopment Promotion Complex, will be cleared from the label of being maintenance zones in accordance with the Act on the Improvement of Urban Areas and Residential Environments and begin to be managed in a way of “regeneration” based on consultation with local residents.

    Ready for redevelopment, 11 zones in Sewoon Redevelopment District and the Supyo zone in the vicinity in which hardware stores are congregated will try to preserve their industrial ecosystem through “phased and cyclical” regeneration. The regeneration will be carried out after countermeasures are prepared for tenants to move in.

    Eight industrial foothold spaces will be created, including a public rental complex and a smart anchor facility that reflect the characteristics of each industrial location, such as machine/precision instruments, industrial materials, and printing. A significant portion of the space will turn into public rental stores (more than 700) of which the rental fee is lower than that of the rest of the neighborhood, allowing for the small business owners that will move in after the regeneration project to build a stable foundation for their businesses. The rest will be transformed into a space for fostering new industries, including the facilities for supporting young entrepreneurs.