Suwon Convention Center FAR to be raised to 400%

"Please cooperate so that the mixed-use residential land within the Suwon Convention City in Gwanggyo New City can be supplied at cost price. Also, please cooperate with provincial assembly members to raise the FAR of the convention center from 200% to 400%."

Suwon City held a city administration briefing session on the 24th at the City Hall situation room with Mayor Kim Yong-seo and eight members of the provincial assembly from the Suwon area, including Assemblyman Han Kyou-taek, making such requests.

The city explained that the 99,175 ㎡ convention site within the Gwanggyo New City special planning district is supplied at cost price, while the 95,878 ㎡ mixed-use residential land is supplied at appraised price, creating a dual-track land supply system.

The city requested the supply of mixed-use residential land at cost price, noting that if the land supply sales prices are bifurcated, profit generation becomes difficult, which could diminish the feasibility of the project.

The sale price according to appraised value is 12 million won per 3.3㎡, while if supplied at cost price, it would be 8 million won per 3.3㎡, resulting in a difference of approximately 116.2 billion won.

Additionally, the city, which is planning the convention center as a high-rise building of 50 stories or more, expressed concern that applying a 200% FAR (applicable to residential areas of the first class general category) could render the convention center project itself impossible.

The city noted that the 200% FAR for the Convention City site is lower than the central commercial district of Gwanggyo New City (1,000% or less), general commercial land (minimum 400-600% or less), and business facility land (300-400% or less).

The city requested cooperation from provincial assembly members to raise the FAR to 400%, citing that the relatively low FAR applied compared to other sites makes it impossible to construct various ancillary facilities including sales facilities, shopping malls, and offices.

Regarding the Suwon World Cup Stadium, the city emphasized that the stadium is located in the Suwon area and that the majority of facility users are Suwon citizens, stressing that management authority should be transferred from the province to the city.

A city official stated, “We must unify the supervisory agency to promote efficient task implementation, management improvement, and enhanced convenience.”

Mayor Kim Yong-seo also said, “There is a need to unify at least the operational rights,” and “Management and supervisory responsibilities must be clarified by clearly defining the relationships between operations and ownership.”

The city cited the example of Jeollabuk-do, which transferred Jeonju World Cup Soccer Stadium to Jeonju City free of charge, and requested cooperation from provincial assembly members to either transfer the stadium's property rights to the city free of charge or transfer operational rights only through a change in equity ownership.

Additionally, the city requested that Paldal Parking Tower (near Yeongdong Intersection) be transferred to Suwon City, and asked for efforts to secure provincial budget so that 25 projects, including the conservation of cultural heritage protection areas in Yeonmu-dong and the development of a comprehensive sports town in West Suwon, can proceed smoothly.