By So much for Yongsan becoming Seoul’s Central Park:
The Defense Ministry wants to develop part of the Yongsan Garrison site in central Seoul for commercial purposes after the U.S. military base relocates to Pyeongtaek.
The ministry plans to use the proceeds from development to help pay for the relocation of the U.S. military compound.
The ministry has asked the Ministry of Land, Transport and Maritime Affairs to approve its plan. [KBS Global]
I have been pretty much convinced large portions of Yongsan Garrison would be sold and developed regardless because of the property value of the land. I really hope this allows the 2012 relocation to happen but considering all the past delays of the Yongsan Garrison move that has stretched all the way back to 1990; this is something I would have to see with my own eyes to believe.
12:04 pm on November 9th, 2008 1
I wonder how much the land is worth is just outside gate 17 land was selling for 80,000,000/pyung. Knowing as much as I do about business practices in Korea it should sell for 80,000/pyung plus a couple of boxes of apples.