Yeouido before the 1950s
Yeouido Airport, a former military airfield has vanished into history.
Before its contemporary urbanization, Yeouido Island (661 hectares) consisted of Yangmal Mountain, the Yeouido airfield and sandy plains and sediment of the Han River. Yeouido flying field and Airport existed in Seoul from 1916 to 1958. In 1958 it became an air force base until its closure in 1971.
The present name ‘Yeouido-dong, Yeongdeungpo-gu, Seoul’ was given in 1946. “Dosungsamgunbungyechongrok” in 1751 was the first historical record that Yeouido appeared in literature. During the Joseon Dynasty, the area belonged to Yeouidogye, Yeonhuibang, Hangsungbu-bukbu and reorganized into Yeyuli, Yonggan-myeon, Goyang-gun along with Yul-do in 1914. In 1936, it was transferred to Gyeongseong-bu, changed into Yeouido-jung and finally became Yeouido-dong.
Mapo Bridge, constructed in 1970 became the key connection to Yeouido that enabled it to emerge as a key economic and governmental center of Seoul. The bridge was promoted as the core project for Han River Development Plan starting from 1968 and became the base that transferred Yeouido from a raw natural habitat into the ‘Manhattan in Seoul’.
The comprehensive Yeouido development plan was established in 1967. Land reclamation activities commenced in 1968 and soon the island was expanded following the construction of bulkheads along the Han River. In 1972 a large square was built on the land formerly occupied by the Yeouido airfield and was named Yeouido Square.
In 1971, the first domestic high-rise apartment, Yeouido Sibeom Apartment, was built, which created the era of high-rise apartments in Korea. In December 1967, Yeouido was selected as the new construction site for the National Assembly Building, The National Assembly Building Groundbreaking ceremony was held on the 21st Constitution Day, 17 June 1969, and building completion ceremony was held on 1 September 1976. In 1979, the headquarters of Korean Stock Market moved to its current location in Yeouido and has become the catalyst that transformed the area into a mature and established financial, government, and media center in Seoul.
Between the 1980s~1990s
The construction of Yeouido Park
The symbol of Yeouido during the 1980s and 1990s was the skyscraper, 63 Building. Construction of this iconic building completed in 1985 and was originally named the Daehan Life Insurance 63 Building. At the time, the building was the highest building in Asia.
According to the Yeouido Development Plan starting from 1968, banks were installed around Yeouido, and then a square was constructed in 1972. Park Project for Yeouido Square was propelled from 1997 and the square was reopened as Yeouido Park in January 1999.
Since the move of Stock Exchange in 1979 into the area, Yeouido has been reformed into the first security town and finally has been grown as the finance-centered city in worth of name with the concentration of the Government polices and financial institutions.
Yeouido after the 2000s
Yeouido, The New International Finance Centre
- Yeouido, Emerging as the Main International Business Location in Seoul.
- Yeouido now boasts the highest concentration of financial institutions and excellent infrastructure for business. Yeouido has evolved into Korea’s leading international financial district.
- Seoul, a new leader in the Asian financial market
- Boasting its worldwide fame and credibility to rival Hong Kong and Singapore, Seoul provides excellent new opportunities to global financial institutions and investors.
- IFC Seoul, a Strategic Leap to the Financial Forefront.
- AIG Global Real Estate and the Seoul Metropolitan Government joined together to create the IFC Seoul project as a strategic and commercial success. With active investment of foreign direct investment from global investors, IFC Seoul has contributed to the transformation of Seoul into a globally recognized, cosmopolitan city.