Additional cost of 87.1 billion won tied to shift from Dongbinggo to Bogwang station

Yongsan-gu asks associations to gather member opinions on cost sharing

A construction site in Hannam New Town Zone 4, Seoul's largest redevelopment project. [Herald DB]
A construction site in Hannam New Town Zone 4, Seoul's largest redevelopment project. [Herald DB]

More than half of the members of the Hannam Zone 5 housing redevelopment association have come out against sharing construction costs for a proposed new Shinbundang Line station, casting a shadow over the pace of development at Hannam New Town — widely regarded as one of the most coveted redevelopment projects north of the Han River.

The Hannam Zone 5 association released the results of an electronic member survey on Wednesday, asking whether members agreed to shoulder a portion of the 87.1 billion won ($62.9 million) in additional project costs — calculated as of June 2026 — needed to build the proposed Bogwang Station, also known by its working name Sinhannam Station, on the Shinbundang Line extension.

Of the 1,494 eligible voters, 1,125 — or 75.3 percent — cast ballots. Only 351 respondents, or 31.2 percent, voted in favor of sharing the costs. The remaining 774, or 68.8 percent, opposed taking on the additional expense.

However, members broadly supported a different scenario: if the previously discussed Dongbinggo Station were relocated closer to Zone 5, a majority said they would accept bearing the related land and construction costs. Some 797 members, or 70.8 percent, backed that option, while 328, or 29.2 percent, opposed it.

The Shinbundang Line's Seoul extension — running from Sinsa to Yongsan — is being developed by Saesoul Railway, which had originally planned a Dongbinggo Station on a site entangled with unreturned US military land. As prospects for that location grew uncertain due to interagency coordination issues, the operator shifted its focus to Bogwang Station. The leading route proposal now runs from Sinsa Station through Bogwang Station and the National Museum of Korea Station before terminating at Yongsan Station.

Once completed, the line would put Gangnam within roughly 10 minutes' reach, making Hannam New Town the primary beneficiary — and bringing the question of cost sharing to the fore. The original Dongbinggo Station project carried a price tag of 98.2 billion won; switching to Bogwang Station would push that figure to 185.3 billion won, an increase of 87.1 billion won.

Ahead of the survey, Yongsan-gu had informed the associations of Hannam zones 2, 3, 4 and 5 of the projected costs for building Bogwang Station and asked each to canvass its members on whether to share the expense. A clash between zones 3 and 5 had been anticipated from the outset: while the station is planned at the boundary between zones 3 and 4, Zone 5 has been pushing for a location between zones 4 and 5.

Map of Hannam New Town and the status of development by zone
Map of Hannam New Town and the status of development by zone

With Zone 5 members pushing back on cost sharing for Bogwang Station, industry watchers expect negotiations to drag on. The other associations have been vocal supporters of the new station: according to industry sources, 2,075 residents from Hannam zones 2, 3 and 4 submitted a petition to the Ministry of Land, Infrastructure and Transport and Yongsan-gu in the first half of last year, urging the inclusion of Bogwang Station. In response, Yongsan-gu commissioned a separate feasibility study on adding a new station along the Shinbundang Line extension.

"There is an analysis that the opinion of Hannam Zone 4 association members will be a key consideration," an industry official said. "The zone would need to provide land within its boundaries for the station, and since the current plan has the line running underground through Jangmun-ro, financial damage to property owners cannot be ruled out."

Depending on the results of the other associations' surveys, the station's location could be reopened for discussion, industry sources said. The contractors building each zone are also watching the negotiations closely, as the placement of entrances, connecting passages and ventilation shafts could significantly affect both the value of their complexes and overall design plans. Daewoo Engineering & Construction is the contractor for Zone 2, Hyundai Engineering & Construction for Zone 3, Samsung C&T for Zone 4, and DL E&C for Zone 5.


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