1. Nikola Medimorec Co-Author of Kojects
Where should you buy real estate in Korea? Ask an urban development expert.
Nikola Medimorec
Co-Author of Kojects

2. What is Kojects?

3. Kojects.com website about transport and urban development in Korea
founded by Andy Tebay in 2011, I joined him in 2013
Features:
project database
discussion forum
guide to public transport in Korean cities, travel around cities and studying transport and urban planning
380 Likes
1003 Followers
17 Subscribers
17 Followers

4. Topics national rail projects urban rail projects urban development
Pyeongchang KTX, Honam KTX, Incheon Airport KTX
urban rail projects
new metro lines, PRT project, Incheon Airport Maglev
urban development
Sejong City, Songdo, Seoul Station 7017
sustainable transport
pedestrian environment, bicycling in Korean cities

5. Sources for our Articles
Official Plans
Articles for Kojects
Experts
Online-Commu-nities
Media
Direct Infor-mation
Events
English and Korean media
official government plans
online-communities
transport experts and urban activists
information of readers
seminars and conferences

6. Seoul’s Development Until Now

7. History of Seoul’s Urban Development
(in millions)
Seoul occupies 0.6% of Korean land, 21% of population live in Seoul.
(Source: Geographical Atlas of Seoul, 2013)

8. Current Urban Context Gangbuk, north of river:
organic, narrow street network
very pedestrian-friendly roads
known for gentrification (Daehak-ro, Haebangchon, Hongdae-Sinchon)
development projects: Dongdaemun Design Plaza, Seoul Station 7017
Gangnam, south of river:
wide, block-style network
car-oriented development
large lots and more apartments
development projects: Lotte World Tower, IFC, Hyundai Skyscraper
Traditional Seoul
Modern Seoul

9. Current Urban Context (Source: http://andrewstokols.com/)
(Source:

10. Housing change in household size: from 4 to 6 persons per household
to single apartments
housing type: % apartments,
24.8% multiplex houses
4.6% detached houses
Housing supply at record high of 98.4%
(Source: Geographical Atlas of Seoul, 2013)

11. Business Spaces Seoul prime office vacancy rate YBD 15.6% CBD 15.5%
District
Average rent (KRW per Pyeong GLA)
Average rent (KRW per Pyeong NLA)
Year-on-Year rental increase (%)
Net absorption
(sq m)
Jongno (CBD)
101,100
180,400
0.8
6,703
Gangnam (GBD)
85,400
166,500
0.1
19,210
Yeouido (YBD)
78,100
160,600
12,628
Seoul prime office vacancy rate
YBD 15.6%
GLA: Gross leasable area
NLA: net lettable area
CBD 15.5%
GBD 9%
(Source: Savills Research & Consultancy)

12. Transport

13. In terms of speed it is a one-dimensional system

14. 2004 Bus Reform Median-Lane Bus Service
(Source: Geographical Atlas of Seoul, 2013)

15. Seoul’s Development From Now

16. 2030 Seoul Plan
Growth
(개발)
Redeve-lopment
(재개발)
Regeneration
(재생)

17. Multi-Core System: 3 main centers 7 regional centers 12 local centers
p. 150 seoul vision 2030
Change from the “1-main center, 5-subcenter area system, 11-local center” to “3-main center, 7-regional center, 12-local center multi-core functional system”
(Source: 2030 Seoul Plan)

18. Human City Seoul Projects: public bike-sharing system Seoul Bike
transit malls and pedestrian zones
Seoul Station 7017, Sewoon Sanga
focus shifts to wellbeing
promotion of walking and cycling
urban renewal of places
(Source: Seoul Transport Department, 2015)

19. New Subway Lines
Every Seoul citizen will have a subway within 10 mins walking distance
First to open in 2018:
Dongbuk-Line (동북선) - Wangsimri Station to Sanggye Station
Sinrim-Line (신림선) - Yeouido to Seoul National University Entrance
Myeongmok-Line (면목선) - Cheongryangri to Sinnaedong
Other lines completed until 2021
Red Lines = Construction in Progress/Planned
Green Lines = Extensions/Newly Added
Dotted Lines = Maybe Future Projects
(Source: Seoul Transport Department, 2013)

20. Gyeonggi Train Express
GTX is supposed to be an express commuter rail
connecting cities in Gyeonggi Province with each other by passing through Seoul
GTX Line A (Samseong to Dongtan) expected to open in 2021
Many uncertainties about Line B and C
(Source: Yonhap News)

21. (Source: 2030 Seoul Plan) Regional Rail Regional Express Rail
Airport Express
Line no. 9
Suseo Train Station
New high-speed rail
Station in Suseo
Maybe extension to Samsung/COEX?
(Source: 2030 Seoul Plan)

22. Conclusion

23. So…
…where should I invest?

24. Thank you for your attention!
Kojects.com