Bank of Korea Fountain to Be Relocated... Large Plaza to Accommodate 7,000 Visitors

A Hub for Urban Tourism Connecting Myeong-dong, Namdaemun Market, and Namsan

Removal of Fountain and Level Differences Expands Space for Walking, Viewing, and Relaxation

Existing Fountain to Be Restored and Relocated to North Seoul Dream Forest

The area in front of the Bank of Korea fountain in central Seoul will be transformed into a large square capable of accommodating 7,000 people. The fountain, which was installed in 1978, will not be demolished but rather relocated and restored in North Seoul Dream Forest.

On the 16th, the Seoul Metropolitan Government announced that it will relocate the fountain in front of the Bank of Korea and reorganize the existing site into a citizen plaza that enables walking, viewing, and relaxation, as well as hosting performances and festivals. The key goal is to connect the space—previously divided by the fountain and level differences—into a single, expansive plaza. The city aims to make it an everyday space for relaxation for residents and a new hub in the city center where both domestic and international tourists can enjoy Seoul’s culture.

Bird's-eye view of the plaza after relocating the fountain in front of the Bank of Korea (linked to Reading Seoul Plaza). Seoul Metropolitan Government

Currently, facilities such as the fountain occupy a significant portion of the space, limiting the areas for walking and viewing and creating multiple fragmented pathways. In particular, as large crowds tend to concentrate in some areas when it gets busy, there has been a consistent necessity to secure a wider and safer space for staying in the plaza.

Through this project, the Seoul Metropolitan Government plans to shift the focus of the space from 'facility-centered' to 'people-centered.' The area where the fountain will be relocated will have its level differences and obstacles removed, and barriers within the space for walking, viewing, and resting will be eliminated, transforming it into an open, accessible plaza that anyone can use comfortably.

The square’s capacity will be expanded about threefold from the current approximately 2,300 people to about 7,000 people. Because citizens and tourists will be able to spread out more widely across the space rather than clustering in one spot, this is expected to help reduce congestion and improve safety during events or when large numbers of year-end visitors gather.

This area, previously just a 'pass-through,' will become a place where citizens can rest, meet, and linger. The city envisions it serving as an urban tourism hub that connects tourism itineraries: for example, tourists enjoying shopping in Myeong-dong can rest or watch performances in the square before naturally moving on to surrounding attractions like Namdaemun Market and Namsan. On ordinary days, the new square will serve as a relaxation space for citizens and tourists, and during different seasons and events, it will become an urban stage for a wide variety of cultural content. Through these changes, the city aims to raise Myeong-dong to the ranks of the world’s top three tourist destinations, alongside New York’s Times Square and Tokyo’s Shibuya.

The Bank of Korea fountain, which has stood in the downtown area since 1978 and contributed to Seoul’s cityscape for decades, will not simply be torn down. It will undergo extensive repairs and restoration before being relocated to the East Gate Plaza of North Seoul Dream Forest, where its historical and artistic value will be preserved. Rather than discarding this iconic structure after it has fulfilled its role downtown, the intent is to ensure that it can be experienced again in a new civic space.

The East Gate Plaza of North Seoul Dream Forest was selected as the relocation site after comprehensive consideration of the space needed to install a large fountain, measuring 12 meters in height and 30 meters in diameter, along with its harmony with existing landscaping and accessibility for citizens. The long-term wear, such as concrete surface damage and efflorescence, will also be systematically repaired as part of the relocation.

This project is also part of the Seoul Metropolitan Government’s recent efforts to create a ‘Stay and Enjoy Seoul’ experience. This year, Seoul aims to become an 'attractive tourism city with 30 million visitors who come and linger,' by expanding festivals for all four seasons, night-time tourism, and participatory tourism content, while also turning everyday spaces for citizens into appealing places that tourists can enjoy together.

This project is being promoted as a social contribution agreement among the Seoul Metropolitan Government, Jung District Office, and local company Shinsegae. Seoul City will provide the site for the fountain’s relocation; Jung District Office will be responsible for operating and managing the square after its development. Shinsegae will cover all costs necessary for the project as part of its corporate social responsibility. Choi Jinseok, Chief of the Disaster and Safety Office at Seoul Metropolitan Government, stated, “For nearly half a century, the Bank of Korea fountain has symbolized the center of Seoul. As crowds gather in the plaza around the New Year, we will expand the space to reduce congestion, and instead of demolition, we will restore and relocate the fountain to carry on its value.”

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