The Seoul Metropolitan Government announced that the Seoul Smart MICE Park Consortium, which principally consists of the HDC Group, Hanwha Group, and Hana Financial Investment, has been selected as the preferred bidder for the Jamsil MICE project. It was disclosed that a negotiation team will be formed and talks to make an enforcement agreement will commence next January at the earliest.
The private investment project of the Jamsil sports MICE complex construction is a project that develops approx. 360,000㎡of the area around Jamsil Stadium, Olympic-ro 25, Songpa-gu, Seoul. The plan is to build a convention facility that is three times the size of COEX, a baseball park with a seating capacity of 35,000, a sports complex with a seating capacity of 11,000, a swimming pool, a hotel with 900 rooms, a cultural and commercial facility, a business facility and more by 2029. The BTO (Build-Transfer-Operate) method will be used by having private companies cover the expenses and retrieving investment costs by operating it for 40 years.
■ Jamsil sports MICE development project: Building a future-oriented complex
The HDC Group, which was selected as the preferred bidder, clarified that it will go beyond simply constructing the Jamsil sports MICE private investment project as the second COEX, but it will create a future-oriented complex that can be the new center of Seoul. In particular, HDC Hyundai Development Company will use the know-how it accumulated through projects like developing the Kwangwoon Univ. Station Area, Yongsan Railroad Hospital Site, Gongneung Station Area, Cheongna Medical Complex Town, and more, and adopt contents associated with HDC Group’s subsidiaries, while maximizing business competitiveness and creating synergy.
Hanwha Group (39%) and the HDC Group (20%) are the biggest shareholders in this project. As for construction companies, HDC Hyundai Development Company, Hanwha E&C, Jungheung Construction, Woomi Construction, and Kumho E&C will participate, while Hana Financial Investment, Shinhan Bank, IGIS Asset Management, and HDC Asset Management will partake in the project among the financial corporations. As for operation companies, HDC IPARK Mall, Hotel HDC, HDC I-SERVICE, Hanwha Solutions, Hanwha Hotels & Resorts, Hanwha Systems, KINTEX, NEXON, The Shilla Hotels & Resorts, Megazone, Hanmoo Convention, and CS Property will cooperate. For the planning and design, Heatherwick (UK), POPULOUS (USA), Benoy (UK), DA, and NOW Architects will be in charge.
An official of the HDC Hyundai Development Company stated that the company is planning to actively take part in the private initiative project by displaying the HDC Group’s synergy effect, showing HDC’s determination in turning Jamsil into a new culture and business center that is fused with culture, sports, and events in the global city of Seoul, based on the legacy of the Hangang River and the 1988 Olympic Games. In addition, going beyond a mere proposal for a public bid, HDC’s philosophy is to create a charming city and town. Therefore, it aims to present a new standard of a grand-scale complex development that increases the urban competitiveness of Seoul and encompasses a new lifestyle.
■ Strong competitor in the complex development business field, HDC Hyundai Development Company… Presenting the future vision of the city with various complex development projects
HDC Hyundai Development Company has been actively involved in private initiative development projects. It is fervently engaging in the complex development business, carrying out the development projects of the Kwangwoon Univ. Station Area, Yongsan Railroad Hospital Site, Gongneung Station Area, and more. Also, based on various experiences in development projects such as Suwon IPARK City, Haeundae IPARK, Yongsang IPARK Mall, and the underground space of the Yongsan Station Front Park, the company has drawn out the potential a space has such as residence, culture, and district content in key locations, presenting various complex development projects that revitalize the city, presenting the future vision of the city in the process.