The Korea Rail Network Authority said Tuesday it will supply two commercial parcels in the Suseo Station public housing district through competitive bidding.
The sites are Block C1-1 (1,663 square meters) and Block C1-3 (759 square meters). Both allow building coverage of up to 60% and a floor area ratio of up to 800%, enabling high-density development.
Based on appraisals, the planned supply prices are 41.1 billion won for C1-1 and 18.2 billion won for C1-3. Payments will be made in interest-free installments over two years and six months. After a 10% down payment, the remaining interim and final payments can be split into five equal payments every six months. Early payment before the scheduled date qualifies for a prepayment discount at an annual rate of 5% under current standards.
The Suseo Station area is described as a major transportation hub in southeastern Seoul, linking the SRT high-speed rail, the GTX-A line, Seoul Subway Line 3 and the Suin-Bundang Line, with the planned Suseo-Gwangju Line expected to make it a "five-line" transfer area.
A complex transfer center at Suseo Station is also planned, with facilities such as a department store, hotel and offices, the authority said.
The schedule begins with a notice Wednesday, followed by bid applications on May 18, bid opening on May 19 and contract signing on May 26. Details are available on the authority’s website and on OnBid.
Lee An-ho, acting chairman of the Korea Rail Network Authority, said the Suseo Station area combines a strong regional transport network with significant development potential. He said he hopes the offering will help energize the station area and strengthen local competitiveness, providing an opportunity for end users focused on future value.
* This article has been translated by AI.
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