JYP Bought a 75.5 Billion Won Site, Only to Face an 18-Story Building Right in Front? ... SH's "Surprise Rezoning" Makes JYP Pull Out

Site purchased in 2023... construction planned for the second half of 2026

Plans disrupted after park site in front of new headquarters was rezoned

Withdraws after talks with SH... plans to expand in Seongnae-dong

JYP Entertainment (hereinafter JYP) has completely scrapped its plans to build a new headquarters in Godeok-dong, Gangdong-gu, Seoul. The decision came after the conditions for the project changed when the park site in front of the planned headquarters was rezoned for high-rise construction.

On October 8, JYP announced in an official statement that it was withdrawing its plan to build a new headquarters in Godeok. The company said it first learned in April 2026 that the land in front of the planned headquarters had been rezoned. It held several consultations with Seoul Housing & Communities Corporation (SH Corporation) and the Gangdong-gu District Office and tried to keep the project moving, but ultimately concluded that it would be difficult to proceed.

JYP bought Block 2, a site designated for distribution and sales facilities in the Godeok-Gangil District and supplied by SH Corporation in 2023, for about KRW 75.5 billion, citing a lack of space at its current headquarters in Seongnae-dong. The company planned to build a new headquarters on the approximately 10,675-square-meter site, with a total floor area of 69,259 square meters and five basement levels and 17 floors above ground.

Rendering of JYP Entertainment’s new headquarters. Gangdong-gu, Seoul.

JYP subsequently pursued the project, including procedures to obtain a building permit, with construction targeted to begin in the second half of 2026. The new headquarters was to include large practice rooms, an auditorium, office space for employees, an 800-seat performance hall and photo zones.

However, the plans were disrupted after the neighborhood park site in front of the planned headquarters was rezoned as a site for self-sufficiency support facilities. The rezoned site can now accommodate commercial facilities of up to 18 stories. JYP raised concerns that a high-rise building directly in front of its new headquarters could compromise artists' privacy and undermine the original design concept.

According to JYP, SH Corporation formally responded on August 31 that there had been no procedural problems with the rezoning and that restoring the site to a park was also impossible. After reviewing this response, the status of leased buildings and various other conditions necessary to proceed with the project, JYP concluded that it would be difficult to continue.

With the new headquarters plan scrapped, JYP intends to expand its office space by purchasing buildings near its existing headquarters in Seongnae-dong. JYP has expanded its business since moving its headquarters to Seongnae-dong, Gangdong-gu, in June 2018.

The company said it plans to buy buildings near its current headquarters in Seongnae-dong to secure a stable workplace for its employees. It also said, "We will continue to work with the local community and pursue sustainable growth."

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