Aged Neighborhood Near Konkuk University Station to Become 1,030-Unit Riverside Complex

Profitability Adjustment Coefficient Applied to Accelerate Project Seoul City Reshapes Konkuk University Station Living Zone

Finance|
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By Jung Hye-jin
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Rendering of the Jayang 3-dong redevelopment project. Photo courtesy of Seoul Metropolitan Government
Location map of the Jayang 3-dong redevelopment project. Photo courtesy of Seoul Metropolitan Government - Seoul Economic Daily Finance News from South Korea
Rendering of the Jayang 3-dong redevelopment project. Photo courtesy of Seoul Metropolitan Government Location map of the Jayang 3-dong redevelopment project. Photo courtesy of Seoul Metropolitan Government

An aging residential area between Konkuk University Station and Han River Park in Jayang 3-dong, Gwangjin-gu, Seoul, is set to be transformed into a riverside residential complex of up to 49 stories with 1,030 units.

The Seoul Metropolitan Government announced Tuesday that at the 6th Urban Planning Committee delegated subcommittee meeting held Monday, the proposal for designating the housing redevelopment district and amending the redevelopment plan and landscape review for the area around 227-147 Jayang 3-dong was approved with modifications.

The area is located near Konkuk University Station and sits right next to Konkuk Star City, a landmark residential complex. However, the site itself has remained a cluster of relatively aged low-rise housing, prompting persistent calls for redevelopment.

Under the new redevelopment plan, the site will be upgraded from a Class 2 general residential zone to a Class 3 general residential zone. In addition, the existing floor area ratio under Seoul's "2030 Urban and Residential Environment Redevelopment Basic Plan" and a profitability adjustment coefficient of 1.04 will be applied, improving the project's viability. This will enable the construction of a residential complex of up to 49 stories with a total of 1,030 units, of which 204 will be rental housing.

null - Seoul Economic Daily Finance News from South Korea

Seoul City said it focused on securing open view corridors and forming a three-dimensional skyline to capitalize on the site's riverside location. The plan secures a sightline from Konkuk University to the Han River to preserve river views, and designs a skyline that rises from the boundary with adjacent residential areas toward the interior of the complex, balancing view rights and urban landscape.

To expand living infrastructure, a 119 safety center and a senior welfare facility will be newly established. The existing on-street public parking lot on Jayangbeonyeong-ro will be eliminated, with parking space created beneath a park, allowing the road to be widened from the current two lanes to five or six lanes.

Original reporting by Jung Hye-jin for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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