[Breaking News] After conflicts with SH, including "public criticism by Yoo Hyun-jun"... JYP's 75.5 billion KRW Godeok-dong "New Headquarters" project ultimately scrapped

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[Breaking News] After conflicts with SH, including "public criticism by Yoo Hyun-jun"... JYP's 75.5 billion KRW Godeok-dong "New Headquarters" project ultimately scrapped
n.news.naver.com
JYP Entertainment has completely scrapped the construction of its new headquarters that was planned for Godeok-dong, Gangdong-gu, Seoul. When the site for the new headquarters was purchased, it was expected that the adjacent land would be used as a park, but the Seoul Housing & Communities Corporation (SH) converted it into commercial land,

JYP Entertainment has completely scrapped the construction of its new headquarters that was planned for Godeok-dong, Gangdong-gu, Seoul. When the site for the new headquarters was purchased, it was expected that the adjacent land would be used as a park, but the Seoul Housing & Communities Corporation (SH) converted it into commercial land and issued a sale announcement, leading to the withdrawal of the new headquarters construction.
JYP purchased the Godeok-dong new headquarters site for approximately 75.5 billion KRW. It was planned to be developed with a total floor area of 69,259㎡, consisting of 5 basement levels and 17 floors above ground. Last year, it underwent a traffic impact assessment and deliberation by the joint committee for architecture and landscape, and subsequently received building permits.
JYP was scheduled to begin construction in the second half of this year after completing procedures such as the underground safety impact assessment. However, problems arose in the design when SH changed the 13,261㎡ of park land in front of the planned headquarters site into self-sufficiency support land (commercial land).
Professor Yoo Hyun-jun, who was in charge of the new headquarters design, also recently publicly criticized SH and the Seoul Metropolitan Government through his YouTube channel.
JYP released a statement on the 8th, saying, "Since April, when we first became aware of the change in land use for the land in front of the Godeok-dong new headquarters site, we have held numerous consultations with SH and the Gangdong-gu Office and made various efforts to continue the project, but we have ultimately decided to withdraw the Godeok new headquarters construction project."