The site of the railroad maintenance window at Yongsan Station in Seoul was originally planned to be reborn as an international business district in 2006. With the announcement of the'Triple One' skyscraper building and plans to build 23 buildings, Yongsan literally heated up. But the excitement did not last long. The development plan was stranded in 2013 due to the bankruptcy of the developer, litigation over the ownership of the site, and the global financial crisis. And Yongsan entered a time of silence.
● "I will develop entirely"… Mayor Park Won-soon, who broke the'time of silence'
It was Seoul Mayor Park Won-soon that broke the silence. Mayor Park announced the plans for the'Yongsan Master Plan' in 2018, saying, "We will develop Yeouido and Yongsan as a whole." However, the'home price', which was booming at the time, caught the ankle. In anticipation of'market gains', the sale has declined, and the price has risen from tens of millions to hundreds of millions of won a day.
The government declared that "I will definitely get the price for the house" will sit there and watch it. Minister of Land, Infrastructure and Transport Kim Hyun-mi attended the National Assembly and said, "The city plan may be announced by the mayor, but in order to proceed, there is a possibility that it must be achieved through close consultation with the Ministry of Land, Infrastructure and Transport." Due to such a strong policy of the Ministry of Land, Infrastructure and Transport, Mayor Park eventually ended the development plan. Yongsan fell into a deep sleep again.
● The government plans to develop'directly taken out' Yongsan… The key is to supply'large-scale housing complexes'
In the past two years, the development of Yongsan finally became visible. This time, the government officially appeared. But the message has changed. The Ministry of Land, Infrastructure and Transport announced that "8,000 homes will be built on the railway maintenance window site, and about 30% of them will be provided as public housing ." Considering the supply of 7,000 households in Gwacheon at the end of 2018,'Mini New Town' would be in the middle of downtown Seoul, the key being to reduce commercial and business facilities and create large-scale residential complexes instead .
In fact, considering that the housing supply plan in the previous year was 3,000 to 5,000 households, 8,000 households would increase by up to three times. As such, it became clear that the focus of this development was on'housing supply'. Of course, commercial, business, and international exhibition facilities, such as hotels and shopping malls, which were planned as international business districts, will also be introduced, but in the end, the proportion will decrease and the share of rental housing will increase.
However, in order not to repeat the past mistake (?), the government immediately designated the maintenance window site and the 13 maintenance areas in the vicinity as a land transaction permission zone. In these areas, when acquiring land exceeding 18㎡ in a residential area and 20㎡ in a commercial area, you must obtain permission from the head of a ward office, and for two years or more, you must live or operate for your own purpose. It is to stop speculation by allowing only real users to acquire real estate. Kim Young-han, a land policy officer at the Ministry of Land, Infrastructure and Transport, did not hide his intentions, saying, "I thought it was necessary to cut off expectations for rising land prices."
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response of local residents was also mixed with the plans to change “Welcome to Development” vs. “Rental Housing Disappointment” in eastern Yongsan . Residents of West Ichon-dong, who are relatively behind the neighboring East Ichon-dong, said, "Finally, development takes place." As the government, not the local government, announced the development plan, it seems that the development will take place this time. In this atmosphere, the number of real estate purchases increased in this area, and some residents gathered for sale and raised their prices.
On the other hand. The residents of Dongbu Ichon-dong, known as the traditional Buchon, were disappointed. Residents who met during the interview process exclaimed, "We should develop more than 100 million won of gold per square meter as a business and commercial district. Is it a small/rented apartment? Is this normal judgment?"
● Large-scale housing vs commercial business facilities… "Gangnam·Yeouido surviving demand to survive"
There is no correct answer. This is because there are large-scale housing construction, commercial and business facilities, and each has its own reasons. In fact, in the course of the interview, nearly 20 professors, researchers and analysts related to floating were asked to comment on the development of Yongsan, and their opinions were also different.
However, the fact that many of these experts agreed was that'Seoul is not an economically active city.' Real estate economist Lee Chang-moo, professor of urban engineering at Hanyang University, said, “Seoul is not an economically developing city as it was in the past, but has already entered a period of low growth. Under such circumstances, building a large commercial facility in the city center is inevitable. It wasn't that level of concern, but the investment itself couldn't even get started," he said.
In the meantime, "If Yongsan has large-scale commercial and business facilities, it must eventually take out the demand in Gangnam or Yeouido. Otherwise, Yongsan cannot be filled. It is no longer an era of supply that creates demand. Excess supply eventually In that regard, the supply of large-scale housing would have been an unavoidable measure for the government .” In other words, there is a real problem that the development of Yongsan itself will be difficult without supply of large-scale housing.
● The era of'slow economic growth' and'uncontact'… Necessity of commercial and business facilities in downtown ↓
Actually, when looking at the real growth rate of GDP in Seoul, announced by the National Statistical Office, the three-year average between 1999 and 2001 at the beginning of the Yongsan development discussion was 8.56%. However, looking at the most recent statistics, 2016-2018 averages, it fell to 2.93%. That means that Seoul's economic growth has slowed.
In addition, even when looking at the International Financial Center Index (GFCI) announced by the UK consulting group, Jyenne, Seoul's financial competitiveness fell from 6th to 14th and 27th in 2015, ranking 33rd this year. In contrast to New York and London, neighbors Tokyo, Shanghai, Singapore, Hong Kong, and Beijing ranked third to seventh respectively.
Moreover, many companies and commercial/sales facilities in Seoul have already passed through Seongnam, Yongin, Suwon, Incheon Songdo, and even Jeju, and such departures continue. Experts say that considering the rapidly developing IT technology and transportation, the need for commercial and business facilities to be in downtown Seoul is gradually diminishing.
For this reason, there is also an analysis that'supplying residential areas rather than commercial and business facilities will help vitalize the local economy'. Jeong Chang-moo, a professor of construction and environmental engineering at Seoul National University, who served as an advisor at the time of the Yongsan International Business District's initial promotion , said, " I think it is appropriate because the commercial district can be activated at night when the residential ratio is about 30%."
Gimdeokrye Housing Industry Research Institute Housing Policy and implementation is also only "were many 10 years ago, only one economic and commercial demand around the city in recent years has lost a lot of that phenomenon is that much economic activity aspect has changed in the world. In particular, the future Corona a 19 incident geotinde non-face-to-face contact that business and the economy becomes active so-called "frozen tact (Untact) 'the age to come, these facilities will need to be in the city center will be further reduced," he explains.
maintenance window site will be approved for business in 2023, and the sale will begin by 2024. Considering the speed of the ongoing maintenance project, the actual change of Yongsan is expected to be seen in the next 10 to 15 years. Experts predicted that if the stoppages were collected well by then, Yongsan would be the center of synergy that connects Yeouido and the city center economically and culturally. Raising that possibility and realizing it would be a task for us in the future. a.
the domestic first-generation architect, architect Kim, Jong - Sung has previously advised so called as the "father of modern nation building. " the colorful and rather than admiring look at the architecture in foreign wonderful to be faithful to the essence of architecture. It is the most basic role to prevent rain and stand for a long time, and we have to think more intensely about it.” I look forward to the'strong fierceness toward the basics' in Yongsan.