Yeouido Sibeom Apartment Redevelopment Approved for Up to 59 Floors... A 2,491-Unit Mega-Complex

Pioneer of High-Rise Apartments ... Project to Take 87 Months

Yeouido Sibeom Apartment, which ushered in the era of high-rise apartments in South Korea, will be redeveloped into a large complex with up to 59 floors and 2,491 units. The skyline along the Han River in Yeouido is also expected to change significantly.

Aerial rendering of the reconstruction of Sibeom Apartment in Yeouido, Yeongdeungpo-gu, Seoul. Provided by Yeongdeungpo-gu.

The Yeongdeungpo District Office in Seoul, headed by District Mayor Jo Yu-jin, announced on October 19 that it had approved the implementation plan for the Yeouido Sibeom Apartment redevelopment project.

Completed in 1971, Sibeom Apartment comprised 24 buildings and 1,584 units. At the time, it was South Korea's first large-scale high-rise complex with 12-story buildings. It was a modern apartment complex equipped with elevators and a central heating and water supply system. Following its occupancy, apartment complexes were built one after another in the Yeouido area, forming the residential neighborhood seen there today.

Under the approval, the 109,307.8-square-meter project area around 50 Yeouido-dong will be redeveloped with 2,491 residential units, ranging from six basement levels to a maximum of 59 above-ground floors (199.9 meters tall), as well as ancillary and welfare facilities. Of the units, 2,147 will be for sale and 344 will be public rental units. The floor area ratio will be 399.72%, and the building coverage ratio will be 27.28%.

The site will include public contribution facilities such as a cultural park the size of 2.5 soccer fields, roads and cultural facilities. A public pedestrian passage will also be secured within the complex and opened to local residents.

Korea Asset In Trust is the project implementer, and the project period is 87 months from the date of approval. Related documents are available for inspection at the Redevelopment Division on the fourth floor of the main building of the Yeongdeungpo District Office.

A Yeongdeungpo District official said, "Sibeom Apartment is a meaningful complex that opened a page in the history of modern housing in South Korea. We will continue to provide swift and proactive administrative support to ensure that subsequent procedures, including the management and disposal plan and the start of construction, proceed smoothly."

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