Construction is scheduled to begin in October 2026 in Zone 5 of Seoul’s Yongsan Electronics Market redevelopment, at Najin Shopping Center Buildings 12 and 13. Seoul’s announcement, reported by ChosunBiz on 11 October 2026, marks the start of implementation in one part of a wider 11-zone plan—not completion of a technology district. “Asia’s Silicon Valley” is an aspiration for the area, not a description of businesses already operating there.
What is starting, and when?
According to ChosunBiz’s 11 October 2026 report of a Seoul Metropolitan Government announcement, Zone 5—at Najin Shopping Center Buildings 12 and 13—was due to begin construction during October 2026. The report describes the start as moving the city’s 2023 redevelopment plan into implementation. It does not establish a completion date for Zone 5 or for the market-wide redevelopment.
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The announcement concerns a specific zone, not simultaneous construction across all 11 special planning zones. Their planning and permitting stages differ.
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The following is the status snapshot reported by ChosunBiz on 11 October 2026. It is not a complete specification or construction schedule for every zone.
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| Zone(s) | Status reported |
|---|---|
| 4, 5, 7 and 10 | Permitting completed |
| 8 | Deliberation completed |
| 6 | Plan notice issued |
| 1 and 2 | Under resident inspection |
These milestones are not interchangeable: completion of permitting is distinct from deliberation, a plan notice, resident inspection, or construction. The report does not establish equivalent progress for the remaining zones.
What is proposed for Najin Buildings 12 and 13?
A July 2024 report by The Asia Business Daily on Yongsan District’s draft district-unit-plan amendment gave the following proposed figures for Zone 5. They are draft-plan values, not confirmed final construction specifications.
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| Draft-plan item | Reported proposal |
|---|---|
| Site area | 5,792.4 square meters |
| Building form | 7 basement floors and 26 floors above ground |
| Total floor area | 73,658.65 square meters |
| Building coverage ratio | 57.42% |
| Floor-area ratio | 799.68% |
| Planned height | 143.10 meters |
| ICT new-industry share of total floor area | 46% |
Because these figures describe a 2024 draft, they should not be read as the final approved design. The later construction-start report does not confirm that each proposal was retained unchanged.
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What infrastructure and public facilities are planned?
Seoul’s announcement, as relayed by ChosunBiz on 11 October 2026, describes a planned pedestrian network linking Yongsan Station, the electronics-market area and nearby renewal zones. The reported provisions include:
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- An elevated pedestrian walkway of approximately 570 meters;
- 11 bridges connecting redevelopment zones;
- Open green spaces and public facilities;
- A planned AI/ICT promotion center and startup-support center;
- Seoul Veterans Hall; and
- Public parking for 400 vehicles.
The same report put expected public contributions at approximately 247 billion won, intended to support balanced development in Seoul. These are plans and reported expected contributions; the announcement is not evidence that the facilities are open or that the full amount has been spent.
Does this mean Yongsan is becoming “Asia’s Silicon Valley”?
That phrase describes a long-term ambition, not a present-day economic condition. Reporting links the vision to a plan announced in 2021 to connect the electronics-market area with Yongsan International Business District and attract technology-related activity. The construction start is an implementation milestone, but it does not establish that a mature AI or ICT business cluster already exists.
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There is related policy context at the district level. An April 2025 report said Yongsan District’s area was selected as a target for an AI/ICT content-industry development-promotion district. Recommended sectors included AI/ICT software and information services, computing and processing components and devices, and content production. That area-level policy does not mean every recommended use is assigned to Zone 5, or that firms in those sectors have committed to locate there.
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How does “Yongsan Core Valley” fit in?
In November 2025, Yongsan District Mayor Park Heeyoung used the separate “Yongsan Core Valley” branding for a district-level promotion and planning effort. The report said the district was conducting a study and aimed to complete a district-unit-plan revision by 2027. That target and branding should not be confused with the October 2026 construction start for Zone 5; they describe a different planning track.
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What remains uncertain?
The available reports do not establish final approved or as-built Zone 5 specifications, confirmed tenants, final financing arrangements, or delivery dates across all 11 zones. The schedule and status figures above reflect ChosunBiz’s account of Seoul’s announcement dated 11 October 2026; the detailed building figures come from a July 2024 draft-plan report. Until newer official details are confirmed, treat the latter as proposals and the broader technology-district language as an ambition.
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