JYP's Godeok HQ Plan Scrapped... 800-Seat Venue Also Falls Through

Plans to sell Godeok site bought for 75.5 billion won
Clash with Seoul over parkland rezoning
New headquarters planned in Seongnae-dong for 96 billion won
Plans for resident-accessible cultural venue hit a snag

Artist's rendering of JYP Entertainment's new headquarters. Provided by Gangdong-gu, Seoul.

JYP Entertainment's abrupt withdrawal from its plan to build a new headquarters in Godeok-dong, Gangdong-gu, Seoul, has also derailed plans for an 800-seat performance venue open to local residents. As JYP Entertainment and the Seoul Metropolitan Government trade blame over the conversion of parkland opposite the planned headquarters into development land, a project promoted by Gangdong-gu to establish a K-pop cultural hub in Godeok Biz Valley has also hit a roadblock.

According to the entertainment industry on October 12, JYP Entertainment withdrew its plan to build a new headquarters in Godeok-dong on October 8. The decision came after the company concluded it would be difficult to proceed with the project, despite holding multiple consultations with Seoul Housing & Communities Corporation (SH) and Gangdong-gu after learning in April this year that the designated use of the parkland opposite the site had been changed.

The new JYP Entertainment headquarters was originally planned for a 10,675-square-meter site, with a total floor area of 69,259 square meters and five basement levels and 17 floors above ground. The plan was to bring together large practice rooms for the company's artists, an auditorium and office space for employees, as well as build a performance venue and photo areas for residents and tourists. On April 16, Gangdong-gu announced that a building permit had been issued, presenting the new headquarters as a key hub for attracting tourists and revitalizing local businesses.

The project unraveled after the development plan for the parkland opposite the new headquarters was changed. JYP Entertainment signed a land purchase agreement with SH in October 2023 for approximately KRW 75.5 billion. At the time, the site across the road, about 20 meters away, was designated as a neighborhood park. It was later reclassified as land for self-sufficiency facilities, allowing construction of buildings up to 18 or 19 stories, with a floor area ratio of 400%.

JYP Entertainment views the change as a significant matter that altered a key premise of the headquarters' design. The building was designed with a central courtyard and an open aspect facing the park to the south. The company says a high-rise building across the street could expose the interior of its headquarters. It is particularly concerned about protecting its artists' privacy and security, according to reports.

JYP Entertainment said it received an official response from SH on August 31 stating that there were no problems with the land-use change process and that restoring the site to parkland was not possible. The company said it decided to withdraw from the project after also considering the operating conditions of buildings it leases separately from its existing headquarters.

JYP's Seongnae-dong headquarters. Courtesy of JYP Entertainment.

The Seoul Metropolitan Government, however, maintains that there were no legal or administrative problems with the land-use change. In a statement on October 9, it countered that the September 2023 sale notice had specified that surrounding land-use plans could change. The Ministry of Land, Infrastructure and Transport approved the change on October 24, 2025, and JYP Entertainment applied for a building review on November 11 of that year before receiving a building permit on April 15, 2026, the city said. It also emphasized that JYP Entertainment first raised an official objection with SH and the city on April 16, the day after the permit was issued.

The city said SH had even proposed a compromise. Although restoring the site to parkland would be difficult, SH offered to put the land's sale notice on hold and adjust the land-use plan so that buildings on the section facing the new headquarters would be no more than five stories tall. The city also pointed out that JYP Entertainment asked SH on October 6 for further consultations on October 13, yet announced its withdrawal from the project just two days later.

Controversy is also mounting over whether the conversion of parkland was justified. The Seoul Metropolitan Government said it adjusted some parkland and green space in accordance with relevant laws to secure funding for school facilities. It maintains that even after the change, parks and green spaces account for 28.4% of the Godeok-Gangil district, exceeding the legal requirement of 20%.

Yoo Hyun-jun, the professor who designed the new headquarters, criticized the conversion of a park that should be preserved for future generations into development land as a short-sighted decision. Local residents are also calling for the site to be restored to parkland and for the circumstances behind the land-use change to be disclosed. Separately from the question of whether administrative procedures were lawful, whether SH adequately informed JYP Entertainment, the land purchaser, of the specific development plan remains an issue.

JYP Entertainment has decided to build a new headquarters in Seongnae-dong, where its current headquarters is located, instead of Godeok-dong. On October 8, it disclosed plans to acquire land and buildings at 448-11 and 448-26 Seongnae-dong for KRW 50 billion and KRW 46 billion, respectively. The total investment is KRW 96 billion, and the final acquisition and registration are scheduled for February 26, 2027. The company plans to sell the Godeok-dong site after completing the registration of its subdivision into separate lots and use the proceeds to fund its medium- to long-term business expansion.

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