Introduction: Loving Seoul as It Is Today
This is not a critique of Korea. On the contrary, my deep love for Seoul motivates me to share thoughts drawn from exploring its streets and alleys. While Seoul has grown into a world-class city, it still retains traces of the 80s and 90s in certain neighborhoods. These areas, with their blend of the past and present, are a unique charm but also highlight the city’s potential for further growth.
Seoul’s Development Potential
1. Comparing Korea with Leading Nations
Let’s take Tokyo as an example. Tokyo, a city comparable to Seoul, has little room for new large-scale development as most projects have already been completed. Seoul, on the other hand, holds vast potential for redevelopment and reconstruction across many regions, offering numerous opportunities for innovation.
2. Seoul’s Future Blueprint
Over the next 30 to 50 years, Seoul has the potential to become an economic powerhouse through ambitious redevelopment projects. Strategic integration of areas like the Yeouido-Banpo Development Zone (YBD), Central Business District (CBD), and Gasan Digital Complex could transform Seoul into a global hub. This transformation would not only focus on real estate but also harmonize residential and commercial areas, optimizing the city’s functionality.
Vision for the Seoul Renovation Project
1. The Seoul Renovation: A Modern New Deal
During the Great Depression, the U.S. built projects like the Hoover Dam to recover its economy. Similarly, Seoul’s redevelopment projects could serve as a new economic driver for Korea. This isn’t merely a real estate developer’s perspective but rather the aspiration of a citizen eager to see Seoul flourish.
2. Towards a Healthy and Sustainable City
Seoul must aim for more than outward progress. It needs to elevate citizens’ quality of life and evolve into a healthy, sustainable city. This transformation would benefit all Seoulites and inspire others around the world.
Domestic and International Success Stories in Redevelopment
1. Success Stories in Seoul
• Cheonggyecheon Restoration (2005): This 10-kilometer green space and eco-friendly waterfront revitalized urban life in downtown Seoul while reducing traffic congestion.
• Sanggae District 4 Redevelopment: Transparent financial management, including detailed monthly expense reports and quarterly summaries, set this project apart as a model redevelopment case.
2. Success Stories in Tokyo
• Roppongi Hills: Once a neglected area, Roppongi Hills transformed into a Tokyo landmark. This mixed-use complex brings together tourism, business, and art, enhancing Tokyo’s global competitiveness.
• Azabudai Hills: Completed after 34 years of planning and construction, this massive $5.6 billion project by Mori Building is now a new landmark in Tokyo, further elevating the city’s stature.
Conclusion: Visionary Investments and Collective Responsibility
1. Trust in the Direction of Investments
Predicting Seoul’s trajectory and investing in its development is not merely about financial gains. It reflects a commitment to urban progress, leaving behind a legacy for future generations.
2. Looking Forward to Our Future
Imagine the pride and joy of witnessing a thriving Seoul 30, 50, or even 80 years from now. This vision inspires me to document its evolution and share it with my children and grandchildren.
Seoul is not just a city. It is a stage that holds our lives, dreams, and future. Together, we can shape it into a proud legacy for the generations to come. Let us invest with purpose, plan with vision, and build a Seoul that stands tall on the global stage.