Jamsil Sports and MICE Complex Project Accelerates After Passing Government Private Investment Committee Review

The project to construct a 30,000-seat domed stadium and a convention center 2.5 times the size of COEX in the area surrounding Jamsil Sports Complex in Seoul has passed the private investment project review.

Aerial view rendering of Jamsil Sports and MICE Complex. Seoul City

On July 16, 2026, the Ministry of Economy and Budget announced that it held the fourth meeting of the Private Investment Project Review Committee and reviewed and approved the designation of the project operator and the implementation agreement for the private investment project to create the Jamsil Sports and MICE Complex in Seoul. This project, with a total budget of 2.6955 trillion won, will develop a domed baseball stadium, exhibition and convention facilities, as well as accommodation, commercial, and office facilities on an approximately 358,000 square meter site around Jamsil Sports Complex. The entire project cost will be shouldered by the private sector, and a portion of the profits will be allocated to a Seoul City fund, which will be reinvested as financial resources for balanced regional development. An official from the ministry stated, "By transforming these aging facilities into a sports and cultural complex, considerable economic ripple effects nationwide are expected, and it is anticipated that this will significantly contribute to enhancing the national brand and strengthening the competitiveness of the service industry."

On the same day, the committee also reviewed and approved the eligibility of candidate facilities for a public bidding-based private investment project at Miaam Amusement Park in Cheongju. With this decision, integrated tourism and cultural facilities within the amusement park—previously not specified as eligible in the basic plan for private investment—were recognized as target facilities for private investment. Cheongju City plans to construct a Ferris wheel, performance hall, exhibition hall, musical fountain, and robotics experience center around the Miaam Reservoir area (64,000 square meters) through private investment. Once the project gets underway, the long-stagnant Miaam Amusement Park is expected to be transformed into a waterfront urban leisure complex accessible to all citizens.

The Ministry of Economy and Budget announced it will coordinate closely with relevant ministries and specialized agencies to ensure that necessary feasibility studies and other procedures can be completed on schedule to facilitate swift progress of private investment projects. Furthermore, the ministry will continuously strengthen support for project financing and regularly convene project review committees to prevent bottlenecks in project implementation.

This content was produced with the assistance of AI translation services.