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Seoul Finance Snapshot #6 : Yeouido Financial Center District-Unit Planning

관리자 │ 2023-12-21

Seoul Finance Snapshot #6(November 2023)_EN.pdf

Seoul Finance Snapshot #6 / November 2023 / SEOUL FINANCIAL HUB 서울국제금융 오피스
 

Seoul Financial Hub is pleased to announce the release of 'Seoul Finance Snapshot #6,' delivering the latest financial news from Seoul. We kindly ask for your attention to this publication, where financial information about the city is provided.

 

In this edition, we introduce the "Yeouido Financial Center" District-Unit Planning established by the city of Seoul, aimed at propelling Yeouido, the financial hub of Seoul, into an international digital financial center.

 

Strategic Goals

1. Building a globally competitive business environment and adopting financial functions: Foster the international financial center by providing incentives through development plan floor area ratio and designating areas adjustable for international financial functions

2. Creating a mix of various urban functions and an environment attracting global talent: Creating an environment that shores up the financial industry ecosystem where small and medium-sized tasks, financial support facilities, and measures to improve the urban streets are introduced

3. Fostering a walking and spatial network for an international level city environment: Promoting various functions necessary for urban activities

4. Establishing a creative construction environment for an attractive urban landscape: Creating a pleasant living and cultural environment that meets international standards, including various types of urban housing, spaces that support the lives of foreigners

 

For more detailed information, please refer to the infographic.

 

SEOUL MY SOUL / SEOUL FINANCIAL HUB 서울국제금융 오피스 / 'Yeouido Financial Center' District-Unit Planning / Background - ◆ Leap to Become a Global and Digital Financial Center - The city of Seoul set the goal of leaping into the top 5 global financial hubs of the world in 2021, announcing a plan to establish an ecosystem on which digital financial (fintech) thrives - The city also declared in 2023 through 'Seoul 2040 Comprehensive Plan' that it will build a global and digital financial center and a global innovation core centered around the Han River / ◆ Modification of Specific-Use Areas and Provision of Floor Area Ratio Incentives Targeted to the Yeouido Area - Mayor Oh Se-hoon attended the '2023 London Conference' at the London Stock Exchange, presenting 'Seoul, the Digital Financial Center' - Significant urban planning support measures were announced for the Yeouido financial central district, including the modification of specific-use areas, providing floor area ratio incentives, and easing the building height restrictions / ◆ Financial Center of Seoul, Designated as the Comprehensive Financial Central District and Financial Special Development Promotion District - The Financial Supervisory Service, 28 major securities firms, and financial investment companies are densely located - Efforts to make the city functionally more complex are being promoted, breaking away from the traditional financial-centric industrial ecosystem / Strategic system - Vision : Global digital financial central district with new fintech-based finance and a 24/7 vibrant urban environment / Goal : Creating a competitive financial industry ecosystem to foster new finance (digital finance), Cultivating a world-class urban environment aligning with the status of the global financial central district / Western Yeouido - Creating public and work space beefing up the global financial central district (broadcasting, public finance, etc.), Yeouido Park, Financial district around Yeoui-daero and Korea Exchange Global financial central district, Apartment district, Hangang Park: Creating a world-class riverside cultural attraction (Hangang Riverside Cultural District, Yeouinaru, etc.), Around KBS Annex Financial and business support district, Saetgang Ecological Park, Saetgang Riverside Area Urban function support district, Han River, Multifamily housing area in commerce areas Urban residence complex district, Apartment district, Fostering open urban residence where home and workplace is in close proximity, supporting the financial central district Wonhyo Bridge
SEOUL MY SOUL / SEOUL FINANCIAL HUB 서울국제금융 오피스 / 'Yeouido Financial Center' District-Unit Planning / Strategy 1 Building a globally competitive business environment and adopting financial functions / Goal : • Granting floor area ratio incentives for the promotion plan, • Fostering a global financial central district, representing Seoul through designating modifiable specific-use areas / Action plan : • Providing floor area ratio incentives (up to 1.2 times) for recommended businesses according to the promotion plan (recommended business: traditional financial sectors such as insurance, banking, etc., including fintech industries combined with IT) • Designating modifiable specific-use areas of the promotion district in the global financial central district (general commerce area → central commerce area) • Planning the functions related to the financial industry as designated and recommended / Legend - Class 1 general residential area Class 2 general residential area Class 3 general residential area General commerce area Natural green belt Public facility protection district Financial Special Development Promotion District High-altitude area District-unit planning zone / Public facility protection district, Modifiable specific-use areas -When meeting the modification criteria, General commerce Central commerce, High-altitude area, Yeouido Hangang Park, Financial Special Development Promotion District, Special Planning District -Korea Exchange, Apartment district, (Former) School site Class 2 general residential area (7 floors or less) - Possible transition to a quasi-residential zone when detailed development plans are decided, Yeouido Park, area, General commerce area, Apartment district, Saetgang Ecological Park, Special planning district - Yeouido Complex Mall(Urban planning facility market), Sister park, Sister park Class 1 general residential area, Some units of Jinju Apartment Complex, ST MARY'S Hospital Class 3 general residential area
SEOUL MY SOUL / SEOUL FINANCIAL HUB 서울국제금융 오피스 / 'Yeouido Financial Center' District-Unit Planning / Strategy 2 Creating a mix of various urban functions and an environment attracting global talent / Goal : Creating an environment that shores up the financial industry ecosystem where small and medium-sized tasks, financial support facilities, and measures to improve the urban streets are introduced / Action plan : • Planning small and medium-sized financial institutions and financial support facilities as recommended • Formulating measures to vitalize the urban streets for human networking • Encouraging to supply various types of urban housing when reconstructing multifamily housing • Pursuing a strategy of using a large underutilized site (e.g., KBS Annex) / Total Areas designated (divided into 4 districts) 1,120,586 m2 / Global Financial Central District, Urban Function Support District, Financial Business Support District, Urban Residential Complex District / Seoul, Mapo Bridge, Yeouido-dong, Yeouido Park, Han River, Yeouinaru Station, IFC, Wonhyo Bridge, Apartment District District-Unit Planning Zone, Yeouido Station, Apartment District District-Unit Planning Zone, Singil Station, Olympic-daero, Yeongdeungpo-gu Seoul, Gyeongbu Expressway, 63 Building, Saetgang Station, Noryangjin Station
SEOUL MY SOUL / SEOUL FINANCIAL HUB 서울국제금융 오피스 / 'Yeouido Financial Center' District-Unit Planning / Strategy 3 Fostering a walking and spatial network for an international level city environment / Goal : Promoting various functions necessary for urban activities / Action plan : • Minimizing restrictions on the use of buildings to allow the city to serve diverse functions such as medical, public, residential, etc., and to have various community facilities • Providing an eco-city with open green space connecting the Han River and Saetgang Proposing the construction of a three-dimensional walking network connecting the underground spaces of buildings • Modifying the specific-use area of school site considering new urban functions / Legend - Sidewalk, Public sidewalk, Pedestrian priority road, Greening urban streets, Open green space, Status of public open spaces, Plan for public open spaces, Plan for parks / 108 station, Encouraging the active creation of open green spaces along major urban streets (20% or more), Yeouido Park, Seoul, Yeouinaru station, Yeouido Gongjak Apartment, Fostering public open spaces (green rest areas) with major sidewalks, 109 station, Yeouido Sujeong Apartment, Korea Exchange, Public sidewalk within  apartment districts, 
Yeouido Station, Pedestrian priority road (tree tunnel), Creating an urban street network with trees including multi-layer planting along major urban streets among others, 
KBS Annex, 110 station, Sister park
SEOUL MY SOUL / SEOUL FINANCIAL HUB 서울국제금융 오피스 / 'Yeouido Financial Center' District-Unit Planning / Strategy 4 Establishing a creative construction environment for an attractive urban landscape / Goal : Creating a pleasant living and cultural environment that meets international standards, including various types of urban housing, spaces that support the lives of foreigners / Action plan : • Encouraging the construction of skyscrapers over 350m, centered around the Financial Special Development Promotion District • Creating an iconic Seoul skyline with a three-dimensional landscape that gradually descends towards the waterfront • Designating spacial planning districts for multifamily housing within commerce areas / Yeouido height plan example (draft) - The 35th floor of Marriott Hotel/135m, The 50th floor of FKI Tower/245m, Yeoui-daero base height of 200m around the Saetgang area, KBS Annex 300m, The 55th floor of Three IFC Seoul/284m, Financial Special Development Promotion District base height of 350m, Korea Exchange 350m, The building height restrictions may be eased when detailed development plans are decided., The building height restrictions may be eased when detailed development plansare decided., The 69th floor of Parc. 1/333m, KBS Annex Block base height of 200m, The 34th floor of LG Twin Tower/143m, Yeoui-daero base height of 200m around the Han River area, 200m or less for the multifamily housing area in commerce areas, Saetgang area base height of 150m, The 60th floor of, 63 Building/249m / Legend, District-unit planning zone, Special Planning District Building height (base height), 350m, 300m, 200m, 150m, Building height (maximum height), 200m or less, 100m or less, 60m or less, 40m or less
 




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