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Parc1 (Korean: 파크원) is a complex of buildings in Yeouido, Seoul, South Korea.[1] It stands 333 m (1,093 ft) and contain 69 floors.[2][3] Construction stopped in 2011 but resumed in early 2017.

Key Information

History

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Parc1 is a US$1.5-billion shopping/hotel/office complex realized by Skylan Properties Korea Ltd., a foreign-invested property development and management services group with offices in Seoul, Beijing and Kuala Lumpur. Morgan Stanley, a global investment bank, was engaged as the financial advisor to arrange financing for the project.

Parc1 was the current Tongil Parking Lot site, a 46,465 square metre plot set between financial and residential districts and bordering Yeouido Park.

Designed by architect Lord Richard Rogers,[4] chief architectural advisor to the mayor of London, the central structure will be a six-story glass mall, offering space for 400 stores.

Structures

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Notable tenants

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See also

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References

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Parc1

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Parc1 (Korean: 파크원) is a mixed-use complex in the financial district of , , featuring two towers, a luxury hotel, and a major retail center anchored by The Hyundai department store. The towers and hotel were completed in July 2020, with the retail portion opening in March 2021; the development, led by a consortium including , spans a site area of 46,465 square meters and a gross of 629,047 square meters, integrating , hospitality, shopping, and public spaces to serve as a landmark urban hub. The complex's primary structures include Parc1 Tower I, a 67-story office building reaching an architectural height of 322 meters, and Parc1 Tower II, a 51-story tower at 247.1 meters, both constructed with concrete-steel composite materials and certified under the Green Star label for sustainability. Adjacent to these are the 30-story Fairmont Ambassador Seoul hotel, offering 308 rooms in a 101-meter tower, and the eight-story with over 600 shops across 89,100 square meters of retail space. The project, valued at approximately $1.5 billion, originated in 2003 and faced construction delays before transforming a key site near Yeouido Park and the Han River into a connected and lifestyle destination. Designed by in collaboration with Samoo Architects & Engineers and Siaplan Architects and Planners, Parc1 draws inspiration from traditional Korean elements, such as red-painted steel columns symbolizing national dignity and pangp'aeyon (traditional Korean kite) motifs in its retail atria, which create an expansive indoor park and tree-lined public plazas. The architecture emphasizes environmental integration, with proximity to (a three-minute walk) and direct underground access to Yeouido Station on Lines 5 and 9, facilitating connectivity. As one of Seoul's tallest complexes, Parc1 enhances the city's skyline while promoting mixed-use urbanism, accommodating business needs alongside leisure amenities like premium dining, clinics, and cultural facilities.

Location and Context

Site and Accessibility

Parc1 is situated at 108 Yeoui-daero, Yeongdeungpo-gu, , , within the heart of , the city's primary financial district. The complex occupies a site of 46,465 m², previously used as a , positioned between commercial and residential areas. Its geographic coordinates are approximately 37°31′34″N 126°55′41″E, placing it directly adjacent to Yeouido Park to the south and Yeouido Hangang Park to the north, offering immediate proximity to green spaces along the Han River. The site's location enhances pedestrian accessibility to natural and recreational areas, with Yeouido Park reachable in about 1 minute on foot and in roughly 3 minutes, fostering integration with the riverside environment. This positioning not only provides scenic views of the Han River but also supports urban connectivity in a densely developed island district. Public transportation is highly convenient, with direct underground access to on Seoul Subway Lines 5 and 9, eliminating the need to cross busy streets and reducing travel time for commuters. Additionally, the Yeouido Transit Center, a major bus hub, is just a 3-minute walk away, serving numerous routes including lines 162, 163, 261, 262, 361, and 461. Road access is facilitated by the complex's frontage on Yeoui-daero, a key that connects to nearby Han River bridges such as to the west and Yanghwa Bridge to the east, enabling efficient vehicle entry from central and beyond. Ample on-site parking with over 3,000 spaces further supports vehicular visitors.

Role in Yeouido

Parc1 serves as a pivotal in , 's primary financial district, which hosts major institutions like the Financial Services Commission and numerous securities firms, solidifying the area's role as the nation's "Wall Street." Completed in 2020, Parc1 introduces two of South Korea's tallest office towers, significantly reshaping the district's skyline and enhancing its status as a modern business epicenter. By integrating office, retail, and hospitality functions on a 4.6-hectare site, the complex attracts global corporations and supports 's ambition to rival international financial hubs like . Economically, Parc1 bolsters Yeouido's growth by supplying approximately 376,000 square meters of premium , facilitating the relocation of financial tenants such as securities firms and contributing to job creation in the thousands through its operational demands and tenant activities. The development's arrival has stimulated local economic activity, with its large-scale retail component—Seoul's biggest —drawing consumer traffic and indirectly supporting property value appreciation in the surrounding financial zone amid Yeouido's ongoing . This infusion aligns with broader efforts to elevate the district's GDP contribution, positioning Parc1 as a catalyst for sustainable urban economic expansion. Culturally, Parc1 enhances Yeouido's livability by incorporating a of spaces, including tree-lined boulevards, plazas, and open community areas that foster interaction and leisure amid the high-density financial environment. Adjacent to Yeouido Park just a one-minute walk away, the complex promotes recreational access by bordering green zones like Yeouido Hangang Park, encouraging pedestrian flow and integrating natural elements into daily urban life. These features transform Parc1 into a vibrant cultural node, blending business functionality with amenities to improve overall resident and worker well-being in the district. Parc1 complements nearby landmarks like the (IFC Seoul) by expanding retail and office capacity without functional overlap, as its emphasis on a massive and elevated towers adds diversity to 's commercial landscape. Standing taller at 322 meters compared to IFC Seoul's 284 meters, Parc1 connects seamlessly via an underground pathway through IFC Mall to Yeouido Station, facilitating integrated transit and pedestrian movement across the financial hub. This synergy strengthens the district's cohesive infrastructure, supporting Yeouido's evolution as a unified global business destination.

Development and History

Planning and Design

The development of Parc1 was led by Skylan Properties Korea Ltd., a formed in by international investors including Paul Rogers, aimed at creating a landmark mixed-use project in Seoul's business district. The project received initial planning approvals in July 2006 as part of broader Yeouido redevelopment efforts to enhance the area's commercial and cultural infrastructure. Groundbreaking was announced on June 5, 2007, marking the formal start of pre-construction activities, with initial cost projections estimated at US$1.5 billion to cover the integrated office, retail, and hotel components. The design team was headed by as lead architects, responsible for the overall conceptualization, with SIAPLAN Architects & Planners serving as local co-architects to ensure compliance with Korean regulations and site-specific adaptations. was provided by , in collaboration with DongYang Structural Engineers, emphasizing seismic resilience to address Seoul's earthquake risks, including designs capable of withstanding magnitude 7.0 events through mega-column and brace systems. Planning began as early as 2003, focusing on a 4.6-hectare site adjacent to Park to integrate the complex with surrounding public green spaces and transportation networks. The design brief prioritized mixed-use integration to form a "culture complex" that fosters public hierarchy and urban connectivity, featuring two office towers, a luxury hotel, and a large retail center organized around plazas, tree-lined boulevards, and an indoor landscaped park to promote pedestrian flow and communal interaction. This approach aimed to create a new urban hub that blends commercial functions with accessible public realms, drawing on sustainable principles to enhance the vibrancy of Yeouido's .

Construction

Construction of Parc1 commenced on 15 February 2008, with E&C serving as the primary contractor responsible for the project's execution. The development transformed the former , a 46,465 square meter site in , , into a high-rise complex, necessitating rigorous foundation preparations to accommodate the structural demands of towers reaching up to 322 meters. These efforts included extensive underground work spanning 260,000 square meters, monitored via to ensure stability amid the site's urban constraints near the Han River. The project encountered significant setbacks, halting in 2011 following a by the Tongil Foundation—linked to the —against the developer Y22 over lease rights and project validity, which stalled financing and led to a loan default. Work remained suspended until early 2017, when construction resumed after Brookfield Asset Management acquired the project. Upon resumption on 21 January 2017, E&C addressed deteriorated site equipment and accelerated progress using advanced methods, including a core-preceding technique with an auto-climbing system that achieved a five-day cycle per floor. To meet the compressed 42-month timeline for and finishing, the peaked at 2,000 daily workers during interior phases, totaling 1.5 million man-days overall. Key milestones included in April 2019 for the main tower, full structural completion by July 2020, and the official opening on 31 July 2020. These achievements were supported by precision technologies like GPS for high-elevation measurements from the 27th and 176 strain gauges to monitor column shortening, ensuring high-rise integrity against lateral forces.

Architecture

Design Philosophy

The design philosophy of Parc1, spearheaded by Rogers Stirk Harbour + Partners (RSHP), centers on blending modern supertall architecture with natural elements to foster a "vertical park" concept. This approach integrates extensive indoor green spaces, including a triple-height interior park with trees and plants that rises through the retail building, mimicking the adjacent and creating a seamless transition between urban and natural environments. By prioritizing , the project aims to enhance occupant well-being and urban livability in Seoul's dense district, where high-rise developments often prioritize functionality over nature. Influenced by RSHP's global portfolio, particularly the expressed structural aesthetics of , the philosophy adapts these principles to Seoul's urban fabric by emphasizing public accessibility and community integration. Traditional Korean architectural motifs, such as red columns symbolizing dignity and refinement, are incorporated into the striking exterior, while the retail design draws from the pangp’aeyon for dynamic, flowing forms. This fusion respects local while introducing innovative supertall massing that responds to panoramic views of the Han River and the city's grain, ensuring the complex serves as a connective urban hub rather than an isolated tower. A key element is the hierarchy of spaces, which promotes fluid movement from street level to the . Ground-level retail acts as a public gateway with expansive plazas and tree-lined boulevards linking surrounding neighborhoods, transitioning upward through multi-level atria to private office and zones above. facades envelop these atria, maximizing transparency, penetration, and visual connectivity, thereby encouraging a sense of openness and progression from communal to elevated realms. Sustainability is woven into the core philosophy from the outset, with energy-efficient features like natural ventilation systems and extensive daylighting planned to minimize environmental impact. The design targeted a rating under Korea's G-SEED certification, achieving pre- status and reflecting an early commitment to passive strategies that align with the vertical park ethos, such as landscaped indoor environments that support and reduce reliance on mechanical cooling. This holistic integration ensures Parc1 not only redefines mixed-use supertalls but also sets a benchmark for eco-conscious urban development in .

Structural Features

Parc1's , led by Arup in collaboration with Structural Engineers, emphasizes resilience against seismic and loads through a - composite mega-frame system featuring a core and mega columns and braces. The complex features mega columns and braces designed to resist lateral forces from earthquakes and , marking the first application of such a high-rise mega tube structural design in . This system enables the towers to withstand earthquakes up to magnitude 7.0 and speeds of up to 70 per second. A diagonal structural core in the office towers provides additional stability, flexibility for office layouts, and enhanced seismic performance. The primary materials include painted columns, trusses, and cables, which contribute to both durability and the high-tech aesthetic while exposed on the facade for visual impact. High-performance glazing, such as Guardian SunGuard SuperNeutral 62/34 double silver-coated solar control glass, forms the facades, offering excellent , low reflection, and reduced solar heat gain to minimize use and enhance occupant comfort. Tower 1 reaches an architectural height of 322 meters across 67 floors above ground, supported by a load-bearing core that bolsters wind resistance in its supertall configuration. Innovations in building systems include floor-mounted fan convector units from AirFixture, specifically hydronic and electric models, deployed for perimeter heating and cooling in the mixed-use spaces. These low-profile units (150 mm height) ensure efficient air distribution, eliminate drafts, and support the complex's goals without compromising raised-floor . For facade maintenance on the supertall surfaces, Manntech supplied three building maintenance units—one per major tower—equipped with telescopic jibs offering 38-meter outreach and specialized cradles for glass recesses and navigating architectural features like helipads.

Buildings and Facilities

Tower 1

Tower 1 serves as the flagship structure of the Parc1 complex, standing as a supertall office skyscraper that integrates retail at its base to support urban development in Seoul's district. Reaching an architectural height of 322 meters, it comprises 67 above-ground floors and 7 basement levels, making it one of South Korea's tallest buildings upon its completion in 2020. Designed by Rogers Stirk Harbour + Partners () in collaboration with local firm SAMOO Architects & Engineers, the tower emphasizes verticality and sustainability, incorporating green elements that align with the overall architectural philosophy of harmonizing urban density with natural landscapes. The tower's layout is vertically segmented to optimize functionality and user experience. The lower levels, from B2 to 2F, house retail spaces integrated with The Hyundai Seoul , a 6-story glass-enclosed mall spanning approximately 89,100 square meters and designed to accommodate over 600 stores, restaurants, and experiential zones, including a 20-meter-high indoor park with skylights and atria for natural light. Mid-level floors, from 3F to 67F, are dedicated to premium office spaces, offering leasable office area as part of the complex's combined 270,000 square meters across both towers; as of Q2 , occupancy rates exceeded 90%, with vacancy at 9.7%, and low vacancy persists in the district as of Q2 2025. Key facilities within Tower 1 enhance its role as a multifaceted destination. The retail base connects seamlessly to the tower via underground passages and public plazas, facilitating pedestrian flow from Yeouido's transit hubs. Office areas feature modern amenities such as high-speed elevators (up to 9 m/s) and flexible floor plates for diverse tenant needs. These elements underscore Tower 1's distinction as a supertall integrating business and lifestyle elements at its base, separate from the pure office-focused Tower 2.

Hotel

The Fairmont Ambassador is a separate 30-story luxury tower within the Parc1 complex, reaching a height of 101 meters and offering 308 rooms with panoramic views of the Han River and skyline. Completed in 2021, it provides high-end amenities including an ESPA spa, multiple dining venues with international cuisine, and event spaces totaling 1,073 square meters. The connects to the retail base and public spaces, enveloped in elegant interiors with natural light through expansive glazing and green walls.

Tower 2

Tower 2 of the Parc1 complex is a dedicated office comprising 51 floors above ground and 7 basement levels, reaching a height of 247.1 meters and offering a gross of 162,221 square meters. Positioned at the northern end of the site, it is oriented to maximize business efficiency while providing unobstructed views toward the Han River and adjacent spaces. The tower's layout is exclusively devoted to office functions, with leasable spaces spanning from the lower floors to the upper levels, eschewing any integration of or retail components. This emphasizes flexibility, featuring large floor plates exceeding 3,400 square meters and interior ceiling heights of three meters to accommodate diverse corporate needs. Key amenities support modern professional environments, including high-speed elevators for efficient vertical circulation, dedicated facilities, and adaptable floor plans that enable customizable leasing configurations. The structure incorporates solutions for stability, such as framing, to ensure resilience in seismic conditions typical of the region. In a significant transaction, ARA acquired Tower 2 in 2020 for over ₩1 trillion (approximately US$1.2 billion), marking one of the largest single-asset office deals in at the time.

Public and Retail Spaces

The public and retail spaces at Parc1 form the accessible base of the complex, centered around The Hyundai department store, which operates as a six-story glass-enclosed mall spanning approximately 89,100 m² and accommodating over 600 retail outlets focused on luxury brands, fashion, and daily necessities. This retail core integrates seamlessly with the surrounding urban fabric, providing a vibrant commercial hub that emphasizes open, light-filled environments inspired by traditional Korean architectural motifs like the pangp'aeyon. Retail zones within the mall feature a diverse array of food and beverage (F&B) outlets tailored to both shoppers and office workers, including coffee shops such as MAMMOTH COFFEE on the second floor, Banapresso and MEGA COFFEE on the basement level 2, and A TWOSOME PLACE on the first floor. Convenience stores like and casual eateries such as Dongbaek on B2 further enhance the everyday accessibility of these spaces. Additional retail services include eyeglasses shops like Bridge Eyeglasses on B2 and flower shops such as Parc.1 Flower on B1, contributing to a comprehensive offering. Supportive services in the base areas cater to and wellness needs, with facilities on the second floor housing clinics like the Parc.1 Hyundai M Dental Clinic, LOHAS Clinic, and Parc.1 Yonsei Clinic, alongside the Parc.1 Onnuri Pharmacy. Automotive and hospitality amenities include interior and exterior car wash services, , and support, designed for premium users, while flower decorating services maintain the aesthetic of communal areas. Public features emphasize integration with nature and pedestrian flow, highlighted by a large indoor park within the mall that creates a serene green oasis amid the urban setting. A hierarchy of open spaces, including plazas and pathways, connects these areas directly to adjacent , fostering lifestyle connectivity across the 629,047 m² total gross floor area of the complex. Accessibility is enhanced by an underground passageway from Yeouido Station on Subway Lines 5 and 9, equipped with moving walkways for seamless entry.

Tenants and Operations

Major Tenants

NH Investment & Securities serves as the in Tower 2, having relocated its there in 2021 and occupying a significant portion of the building's floor space. This move underscores the tower's appeal to major financial institutions in Seoul's business district. Similarly, occupies approximately 52,900 square meters across floors 57 to 64 in Tower 1, representing about 25% of the tower's office space. Tower 1's upper floors house the Fairmont Ambassador , operated by Fairmont Hotels & Resorts, providing luxury accommodations integrated into the complex's mixed-use design. In the retail spaces, The Hyundai Seoul department store anchors the commercial component as the largest in Korea, while smaller outlets include The Coffee Company, MEGA COFFEE, and Dongbaek on the lower levels. Office leasing at Parc1 has targeted financial and technology firms since the complex's opening in late 2020, with initial challenges in filling space leading to low occupancy rates amid the broader Yeouido market's high vacancy in that year. Notable additional tenants include RaonSecure, a blockchain software firm, which leased 6,400 square meters in Tower 2 in 2023. In early 2025, Woori Bank's investment banking division relocated to Parc1 Tower 1 from the CBD submarket, and Leferi moved from the GBD to the NH Financial Tower (Tower 2). Parc1 contributes to Seoul's prime office market by offering premium spaces with above-average rental rates, supporting a district-wide vacancy decline to around 1.8% by mid-2023 through relocations and new lettings.

Sustainability and Certifications

Parc1 incorporates several environmental features designed to enhance energy efficiency and reduce ecological impact. Tower 2, known as the NH Finance Tower, achieved LEED O+M: Existing Buildings v4 certification from the U.S. Council in 2025, recognizing its superior performance in sustainable operations and maintenance across categories such as energy, water, and indoor environmental quality. Additionally, the complex holds the highest Green 1 rating under Korea's G-SEED (Green Standard for Energy and Environmental Design), awarded for its energy-saving measures and environmental impact mitigation. The systems at Parc1 emphasize renewable and efficient technologies to minimize consumption. Key components include , combined heat and power plants, fuel cells, and generation, which collectively aim to lower the of operations. (HVAC) are supported by floor-mounted Fan Convectors, which provide targeted perimeter heating and cooling with low use and minimal maintenance requirements, as verified through testing at the KTC Institute. Natural ventilation is facilitated through architectural elements like full-height atria in the retail areas and staggered voids in the roof design, inspired by traditional Korean forms, promoting passive airflow. Daylighting is maximized via floor-to-ceiling glass curtain walls and extensive glazing, reducing reliance on artificial lighting throughout the office and public spaces. These features contribute to the complex's pre-Gold status at completion, marking it as one of Korea's early high-achieving sustainable projects. Green elements within Parc1 integrate to support and occupant well-being. A prominent feature is the triple-height indoor park in the retail center, featuring trees, flower plants, and grasses modeled after the adjacent Park, which occupies significant space for landscaping and fosters a connection to nature. The site's proximity to Yeouido Hangang Park and other green areas further enhances this environmental context, though specific details on green roofs or water recycling systems are not publicly detailed in project documentation. Seismic resilience, inherent in the of the towers, supports long-term durability by withstanding regional seismic risks, aligning with broader goals for resilient urban infrastructure. Operational practices at Parc1 focus on ongoing , particularly through the LEED O+M framework, which emphasizes performance monitoring post-occupancy. Since its 2020 opening, updates in energy management have targeted reductions via the integrated green energy sources and efficient systems, with the 2025 recertification reflecting sustained improvements in operational efficiency. Tenant guidelines, aligned with G-SEED requirements, encourage sustainable behaviors such as and waste reduction, though specific protocols for are managed at the building level to comply with Seoul's municipal standards. On a broader scale, Parc1 plays a key role in Seoul's initiatives by demonstrating high-standard certifications in a . With a total exceeding 629,000 , it exemplifies how large-scale projects can integrate into urban density, contributing to the city's goals of reducing building-related emissions under frameworks like the Seoul Energy Declaration. While exact energy consumption metrics per are not disclosed, G-SEED-certified structures like Parc1 typically achieve 35-49% lower energy use intensity compared to non-certified buildings, underscoring its impact on local environmental benchmarks.

References

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  3. https://www.poscoenc.com/en/business_areas/project.aspx?brpt=229
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  10. https://rshp.com/news/parc1-rshps-first-commercial-complex-in-seoul/
  11. https://www.colliers.com/en-kr/news/be-authentic--suah-baek-os
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  20. https://airfixture.com/case-studies/parc.1
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  27. https://rshp.com/assets/uploads/4020_Parc1Yeouido_JS_en_2.pdf
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  31. https://pdf.savills.asia/asia-pacific-research/korea-research/korea-office-briefing/2022-q2-seoul-prime-office-%28en%29-final.pdf
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  33. https://www.ctbuh.org/news/investment-manager-purchases-52-story-seoul-office-building
  34. https://www.corebeat.co.kr/article/1053
  35. https://pdf.savills.asia/asia-pacific-research/korea-research/korea-office-briefing/2022-q4-seoul-prime-office-%28en%29-final.pdf
  36. https://assets.cushmanwakefield.com/-/media/cw/marketbeat-pdfs/2025/q1/apac-and-gc/seoul-office-market-2025-q1_eng.pdf
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  40. https://www.researchgate.net/publication/339534847_Comparative_Analysis_of_Energy_Consumption_between_Green_Building_Certified_and_Non-Certified_Buildings_in_Korea
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