There is a need for Urban Regeneration Plans to improve the existing infrastructure in the southeastern region
To prepare for periods of low-growth and create jobs now and in the future
- Seoul’s growth engine has weakened due to the aging of its population, the low birth rate, and continued job insecurity among young people.
- There is a strong need to enhance the global competitiveness of the southeastern region, one of Seoul’s three city centers.
To grow into a hub of international affairs by realizing the potential of the southeastern region
- Business facilities are located around Teheran-ro and Gangnam-daero with sufficient transportation infrastructure, including subways and highways.
- There are many places for leisure and culture, such as waterside areas around the Hangang River and Tancheon Stream close to the city center, as well as Jamsil Sports Complex.
The area from COEX to Jamsil Sports Complex has emerged as a desirable location for the “International Affairs and MICE Initiative” and a site with potential for large-scale development.
- There is a considerable strategic potential for the 120,000 ㎡ of land area (the site of Hyundai Motors GBC).
- There have been significant accessibility improvements through transportation infrastructure on the local and national level.
There is a need for Urban Regeneration Plans to improve the existing infrastructure in the southeastern region.
- COEX lacks exhibition and convention facilities accommodating more than 10,000 people
- Jamsil Sports Complex is increasingly dilapidated (now 30 years old) and requires maintenance costs of ten billion won every year.