18-story building with total floor area of 10,366.76 square meters targets move-in in the second half of 2029; 35.2 billion won construction cost fully covered by development contributions, with total asset value including site reaching around 100 billion won
Jung-gu in Seoul has broken ground on Jung-gu Sewoon WORKS, a public rental industrial facility for small print businesses, at 143 Yegwan-dong. Construction began Thursday.
Jung-gu Sewoon WORKS is designed to help small print shops displaced by the Sewoon redevelopment project resettle nearby. The facility will provide space for tenants to install printing equipment and carry out planning and design work, along with various amenities.
The building will rise on a 1,198.70-square-meter site within the Sewoon redevelopment promotion district, with three below-ground floors and 18 above-ground floors for a total floor area of 10,366.76 square meters. It will house about 135 public rental units and various amenities, with each floor's exclusive use area of roughly 390 square meters divided into nine to ten modules so tenants can configure the space flexibly according to their size and needs.
Once open, small print businesses forced to relocate by redevelopment will be able to continue operating at reasonable rents close to their existing industry base. Jung-gu plans to develop the facility into a hub for sustaining the print industry's legacy and competitiveness in the Euljiro and Chungmuro area.
Full construction is set to begin in November, with completion and move-in targeted for the second half of 2029. Starting in December, Jung-gu plans to form an operating committee involving the Seoul Metropolitan Government and the print industry to discuss detailed operational plans, including tenant eligibility criteria and rent levels.
The 35.2 billion won ($26.4 million) construction cost will be covered entirely by development contribution funds secured during the Sewoon redevelopment promotion zone project. The total asset value, including the site, comes to around 100 billion won. The project carries added significance as a model of coexistence between redevelopment and local industry, returning development gains from urban renewal to a traditional local sector without drawing on district funds.
The facility was originally planned in April 2025 as a 10-story building, based on about 25.2 billion won secured through a revision to the Sewoon 6-3-3 zone redevelopment promotion plan. The print industry subsequently called for the building to be expanded to 18 stories to accommodate more small businesses, prompting discussions on an expansion.
Park Jang-sun, chairman of the Korea Printing Cooperative Federation, played an active role in that process. Park gathered the industry's requests and conveyed them to the Seoul Metropolitan Government and Jung-gu, and consistently advocated for the facility expansion and the need to secure additional funding through meetings with relevant city and district departments.
Jung-gu worked closely with the Seoul Metropolitan Government to secure a separate pool of development contribution funds. As a result, a revision to the Sewoon 6-4-1 zone redevelopment promotion plan was approved in September, yielding an additional 10 billion won and allowing the building's scale to be expanded from 10 to 18 stories.
Jung-gu held a groundbreaking ceremony at the construction site Thursday, marking the official launch of the project. About 450 people attended, including Jung-gu District Mayor Kim Gil-sung, Chairman Park and representatives from the print industry and local community, witnessing the first step of a long-sought project for the printing sector.
"I want to again express my gratitude to the Seoul Metropolitan Government and Jung-gu officials who actively cooperated in building this facility for the new growth of the print industry," Park said.
"Jung-gu Sewoon WORKS is a space of coexistence created so that small print businesses, which have long anchored this community even through urban redevelopment, do not lose their workplaces," Jung-gu District Mayor Kim Gil-sung said. "We will continue to communicate closely with the print industry and prepare carefully so that small business owners can settle in stably and Jung-gu's print industry can build new competitiveness."
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