COEX-Jamsil areas to become multi-purpose complex

Source: Seoul Metropolitan Governmen

By Nam Hyun-woo

Seoul will develop an international business, sports, tourism and cultural complex in southern Seoul, City Hall said Tuesday.

The complex in Gangnam will cover 720,000 square meters on land between COEX and the Jamsil Sports Complex, including areas vacated by the Korea Electric Power Corp. (KEPCO) and other public organizations.

Seoul Mayor Park Won-soon explained that the development plan, which will continue through 2020, will create jobs and boost the regional economy.

“As KEPCO is about to move out, there has been an urgent need to come up with an initiative to develop this area,” Park said. “We plan to develop the zone as a tourist spot and a growth engine for Seoul.”

KEPCO will move its office to Naju, South Jeolla Province, in November, and its building sold to a private developer.

The city will also renovate Jamsil Sports Complex to accommodate international sporting events; and the attached gymnasiums as performance venues.