University Columbia University Networks Global Alumni

By Nho Joon-hun

Staff Writer

If Jeong Choon-bo had traveled the world to find inspiration and direction for his history- making metropolis right in the heart of South Korea, he couldn’t have done better.

For years, he made trips to observe and study all the major cities of the world and the results are now showing themselves in a sprawling area in Chongju, 100 kilometers south of Seoul.

“It is a change in the concept of what dwellings and the living environment can be outside of Seoul, in a serene location yet not far away,” said Shinyoung Asset chairman Jeong, an innovative Korean property developer.

The project looks something like this: high-rise residential properties totaling 4,300 units, laid out on a lot of 159,000 pyong (about one fifth the size of Yoido in central Seoul) where no vehicles will be allowed.

Introduced under the brandname of G-Well City (the G stands for geo and global), the development project is a totally innovative undertaking in Korea.

Located a stone’s throw away from the projected new administrative town, G-Well City will house not only high-class residential properties but government offices, a large-scale shopping mall, theme parks and multi- purpose exhibition centers.

Everything and everywhere, including schools, will be within walking distance, due to the design of the project, and there will be greenery and parks every way you turn.

Building G-Well City

That G-Well City will unfold where it is could not have been imagined just three years ago when the grounds were home to textile factories owned by Dainong Corp.

While no one was willing to touch the company and the property with a 10-foot pole, Jeong saw an opportunity to give life to his vision for a new kind of metropolis and he took it.

He acquired Dainong despite warnings about its hard-line labor union and spent the next three years negotiating with employees for the relocation of the production facility.

After scores of prolonged meetings, Jeong and his team persuaded the Dainong workers to move the manufacturing lines to nearby Chongwon and the factory in China was expanded and upgraded.

“Everyone said it was a lost cause but it was a once-in-a-lifetime opportunity and I had to take it. As a result, Dainong’s manufacturing expertise has improved drastically along with its business performance,” said Jeong, an engineer by training.

Having settled the relocation issues with Dainong employees, the 52-year-old entrepreneur proceeded with designing G-Well City, spending some of his time traveling to study foreign cities.

“I calculated that the region around Chongju will have more than 5 million people by 2015, making it the second most populous in the country after Seoul,” said Jeong who also built Somerset Palace Seoul, the largest deluxe serviced residence in Korea.