28 firms on track despite JYP withdrawal; Asan Social Welfare Foundation breaks ground, 3 more set for first half of next year. Godeok-Gangil designated major urban center in G3 Seoul Plan, accelerating AI and knowledge-industry cluster
Gangdong-gu said the Godeok Biz Valley development project is proceeding without disruption despite JYP Entertainment's decision to scrap plans for a new headquarters there, and pledged to accelerate efforts to build an economic hub in eastern Seoul.
The district pushed back against recent media reports suggesting that JYP's withdrawal had thrown the broader southeastern Seoul economic hub vision off track, saying it was inappropriate to interpret one company's change of plans as a setback for the entire project.
Twenty-four companies are currently operating at the self-sufficient facility lots within Godeok Biz Valley. The Asan Social Welfare Foundation broke ground in June, and three more companies — including Donggu Bio & Pharma — are scheduled to begin construction in the first half of next year. The district said the projects of all 28 companies are advancing on a rolling basis.
Godeok Biz Valley is a mixed-use business complex combining office, retail, commercial and research and development functions. Companies have been recruited to the self-sufficient facility lots through a screening process that selects and recommends firms in advanced and knowledge-based industries.
Among the tenants are Hunesion, Ecount and Rsupport in software development; Boryeong Biopharma and Wellkeeps in pharmaceuticals and biotech; and Dongmyeong Engineering Consultants and Donghae General Engineering in architecture and engineering, forming an industry-by-industry cluster.
Gangdong-gu plans to deepen that concentration by focusing on AI and knowledge-based industries, strengthening Godeok Biz Valley's capacity to function as a self-sustaining economic zone.
The district also cited the Seoul Metropolitan Government's G3 Seoul Plan, announced Sept. 10, which designated Godeok-Gangil as one of four major metropolitan urban centers. Seoul plans to incorporate specific urban spatial plans and deregulation measures through a revision of the 2040 Seoul Urban Master Plan and the development of a metropolitan center growth blueprint, with the results reflected in relevant statutory plans.
A mixed-use redevelopment of the Godeok vehicle depot is also under way. Seoul launched a feasibility study in March and is drawing up a multi-layered development plan centered on AI convergence and smart logistics. Gangdong-gu expects the plan, once finalized, to strengthen the eastern Seoul industrial base in conjunction with Godeok Biz Valley.
Improving transport links is another priority. The ongoing Phase 4 extension of subway Line 9 — connecting Jungang Veterans Hospital station through Godeok station to the Godeok-Gangil District 1 area — is targeting completion in 2028. Once open, residents of the Godeok-Gangil area will be able to reach Gangnam without transferring, easing the daily commute.
A Phase 5 extension of Line 9 from Godeok-Gangil District 1 into Hanam and Namyangju is also moving toward a turnkey construction contract. Gangdong-gu has separately worked to improve public transit access to Godeok Biz Valley, including by adding city bus route 3324.
Working with the Seoul Metropolitan Government, Gangdong-gu plans to develop the Godeok-Gangil metropolitan center into an economic hub for the eastern metropolitan area, integrating jobs, housing, culture and transport. The district said it will build a cooperative framework with tenant companies and strengthen support to ensure that business attraction translates into local job creation and economic vitality.
"Separate from JYP's decision to withdraw its headquarters plan, the Godeok Biz Valley project is proceeding normally," a Gangdong-gu official said. "We will work to grow it into a new economic hub for eastern Seoul, building on the Godeok-Gangil metropolitan center designation and our plans to foster AI and knowledge-based industries."
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