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Writer Kim Chaeyoung
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Subject Progress as an Economic City

Gangdong-gu is planning to make 2018 as a starting point for development projects that have been in progress on three development to transform the district into an “economic city.”

The Godeok Commercial Business Complex, the largest development project in the history of Gangdong-gu, is a complex that includes business facilities, research facilities, shopping malls, hotels, etc. The first selection for the self-sufficiency site began in December 2017. Through adjustment over the course, the listing of the remaining lots that will make up the self-sufficiency site is scheduled to be completed this year. Almost all sites are under the way to confirm the businesses will be moved into the shopping mall within the year.

The Engineering Complex, which will be constructed in Sangil-dong, Gangdong-gu, also obtained a decision of cancellation of the development restriction zone in December of 2017. Therefore, the industrial complex approval procedures, land compensation procedures, and foundational construction are expected to start this year. Gangdong-gu also works on facilities that will be supported and used by the public sectors.

The Sangil-dong Advanced Business Complex, which was constructed in 2015 as part of the Gangdong-gu development projects, is currently active. There has been a trend of expanding vacant spaces in portions of these corporations due to economic slumps, but an economic boost within the complex is expected this year through an increase in businesses and reduction of vacant spaces with the transfer of Samsung C&T and completion of construction of the CESCO Academic Center during the latter half of the year.

It is certainly expected to become an important year for Gangdong-gu that determines the future of these three development projects above that have been in progress as a major “economic city.”
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