The Global Business Complex (GBC) in Samseong-dong, Gangnam-gu, Seoul, will be transformed into a mixed-use space featuring citizen-oriented facilities including a science museum, concert hall, and rooftop gardens, with completion targeted for the end of 2031.
Seoul Metropolitan Government announced on January 9 that the Urban and Architecture Joint Committee approved with modifications the "Amendment to the International Exchange Complex District Unit Plan and Hyundai Motor Site Special Planning Zone Detailed Development Plan" at its meeting held January 8. The amendment reflects the results of additional negotiations between Seoul City and Hyundai Motor Group.
The core of the amendment involves abolishing specific designated uses, introducing recommended uses, and comprehensively adjusting floor area ratio, height plans, and public contribution plans. As a result, the project structure has been reorganized to move away from super high-rise-centered development toward strengthening mixed functions and public accessibility.
The complex will include international business support functions such as office facilities, tourist accommodation, and retail facilities, along with cultural and leisure spaces for citizens including an experiential science museum, concert hall, rooftop gardens on lower floors, and observation areas on upper floors. The Yeongdong-daero area is expected to transform beyond a simple office district into a stay-oriented mixed-use cultural space.
The urban structure will also be three-dimensionally connected. A pedestrian axis linking the International Exchange Complex from east to west and an urban forest in the center of the site will be created, along with an underground pedestrian network connecting to the Yeongdong-daero Multi-modal Transit Center. The plan aims to strengthen connections with adjacent areas to revitalize streets and create a pedestrian-centered urban environment.
The total public contribution amounts to approximately 1.98 trillion won ($1.46 billion, based on 2016 values). These funds are being allocated to core infrastructure construction for the International Exchange Complex, including the underground space development of Yeongdong-daero and remodeling of Jamsil Main Stadium, as well as road expansion and creation of waterfront spaces along the Han River and Tancheon Stream.
Following the completion of the district unit plan review, Seoul City plans to proceed with the project targeting completion by the end of 2031 through subsequent procedures including signing public contribution implementation agreements, various impact assessments, and architectural reviews.
Kim Chang-gyu, head of Seoul City's Balanced Development Headquarters, said, "With this district unit plan decision finalizing the development plan, the creation of a global landmark will begin in earnest. We will enhance Seoul's urban competitiveness by creating a global business and cultural hub that combines office, culture, and green spaces."