Seoul’s first private urban complex sites could be chosen this month as floor-area ratio rises to 1,300%

Seoul is expected to choose its first three or four pilot sites this month for “private urban complex development,” a program that could permit floor-area ratios of up to 1,300% near downtown railway stations.

The projects would combine housing with commercial and office facilities. The program can raise a site’s zoning classification by two or three levels, while also speeding up permits and approvals.

That combination has drawn strong interest from the property industry, which views the scheme as a possible new development model that could replace existing urban renewal projects. The Seoul city government is expected to announce the initial sites this month.