SEOUL, SOUTH KOREA, January 10, 2019 — Seoul Arena, the first concert hall in Korea, where K-POP stars can pull through their best performance in harmony with the audience. It will allow the audience to enjoy the best sound quality as well as a variety of stage management opens in 2024.
The venue which is the largest indoor concert hall is located in the vicinities of Changdong Station with a size of 50,149 square meters with a full capacity to hold 18,400 people at the same time. The size and capacity surpass other alternative concert halls such as the Olympic Gymnastics Arena (capacity of 15000 seats).
Other nearby pop facilities includes a medium sized concert hall (2,000 seats), movie theatre (11 halls), and K-POP exhibition halls along with restaurants and other convenient facilities. They all will work together to transform the area into K-POP cultural complex (gross floor area of 243,578 square meters).
The Seoul Metropolitan Government announced that a consortium of private sector bidder KIAMCO (KDB Infrastructure Asset Management Co. Ltd) and 8 other companies has been finally approved from the qualification examination as of the end of December, which means that the project is confirmed to be feasible as well as economical that Seoul Arena construction shall begin in earnest.
Seoul Arena was selected as locally pledged initiative in July 2017 Five-Year Master National Administrations Plan and the project gained momentum as the Korean government promised early groundbreaking of big projects announced its Economic Policy Orientation (Dec. 17, 2018).
The present infrastructure for big concerts within Korea being very poor despite the global Korea K-POP wave having to rent sports facilities to host concerts, the Seoul Metropolitan Government plans to gain global cultural competitiveness with Seoul Arena.
Furthermore the plan aims to make the vicinity area as the mecca for Korea wave tourism with convenient public access adding new GTX-C line other than the existing subway line 1, 4 and 7, extended KTX Northeastern line and making Dongbu expressway underground.
Through Seoul Arena, the Seoul Metropolitan Government is committed to expanding the live entertainment industry and creating jobs with the annual 9.1 percent growth in music industry as music is becoming visual.
The Seoul Arena project is expected to generate a total production of KRW 599.4 billion, KRW 238.1 billion of economic ripple effect and an employment of 7,765 people (4,465 people during the construction period and 3,300 during the operations).
The Seoul Metropolitan Government shall announce a bid for proposal in May 2019, and designate a preferred partner by September 2019. Also it will engage in design and permit negotiations in parallel, start the construction in September 2020, finish it by 2023 and officially open the venue in January 2024.
Meanwhile Seoul Arena is the key pillar for the Changdong & Sanggye New Economic Center Project together with the 49-story Changdong & Sanggye Startup and Cultural Industrial Complex at the Changdong transfer parking site in 2023.
The goal is to reform the Northeastern region, a representative bed town in Seoul, as a place where life and work is in balance, and also a global music center where production, consumption and distribution of music takes place. It will also contribute to a balanced development between the North and South parts of Seoul.