Seoul is transforming Yongsan Electronics Market into a high-tech AI and ICT district, starting this month with Zone 5 (Najin Shopping Center Buildings 12 and 13) as the entry point.

The redevelopment shifts Yongsan from a traditional electronics hub toward a specialized AI and ICT district in central Seoul, part of a broader, long-term plan.

Among 11 planned zones, Zones 4, 5, 7, and 10 have completed permitting, with other zones at deliberation, plan notice, or resident inspection stages, while the city pledges administrative support to advance the rest.

The project envisions spaces for software firms, digital content production, R&D, startups, and also retail, culture, and sports facilities.

This overhaul is part of a broader Yongsan development plan established in 2023 and is designed as a long-term, large-scale redevelopment rather than a short-term project.

About 247 billion won in cash public contributions will be invested to support balanced development across Seoul, with developers contributing roughly the same amount.

A 570-meter elevated public walkway and 11 bridges will create a pedestrian corridor linking Yongsan Station, the market, and renewal zones, integrating greenery and public spaces.

Public facilities to be expanded include a startup support center, an AI–ICT promotion center, the Seoul Veterans Hall, a 400-vehicle public parking lot, and open green spaces.

Aligned with the 2021 Asia Silicon Valley vision, the initiative aims to attract global corporations and startups by creating a future-oriented high-tech district and improving transportation access.

Together with the adjacent Yongsan International Business District development, the project is expected to reshape central Seoul’s economic and industrial landscape and boost competitiveness for global firms and startups.

The first construction phase is set to begin this month, following a 2023 redevelopment plan to strengthen ties with the Yongsan International Business District and realize Mayor Oh Se-hoon’s goal of turning the area into Asia’s Silicon Valley.