[Suwon Ilbo=Reporter Park Chan-hyuk] Osan City has completed the final purchase of the long-stalled Segyo Terminal site, marking the beginning of full-scale administrative efforts to reposition urban space and establish a growth axis in northern Osan.
The city announced on the 6th that it has completed the final purchase of the Segyo Terminal site (22,897 sqm) located at 585 Segyo-dong from Korea Land and Housing Corporation (LH). The total purchase price was 51.5 billion won, proceeding through installment payments in two tranches following the purchase agreement execution in May 2025.
The site underwent five rounds of sales promotion from 2012 to 2016 following completion of the first phase of the Segyo District residential development project, but all auctions failed, leaving the land unsold for an extended period. This resulted in a development vacuum and has been repeatedly cited as a constraint on urban function expansion and regional growth in northern Osan.
The issue is that this site is not merely vacant land. The Segyo Terminal site is a transportation hub adjacent to Sema Station and National Route 1, positioned at a strategic junction connecting northern Osan with outlying areas. Evaluated as a key site with both metropolitan transit accessibility and locational competitiveness, its impact on overall urban spatial structure is expected to be significant depending on how it is utilized.
The city stated that despite this locational importance, the public directly securing a space that had remained unused for an extended period holds significance in moving away from the existing approach that relied solely on private development and establishing public initiative in urban space utilization.
Through this, the plan is to more systematically reposition urban functions and pursue balanced regional development centered on northern Osan in phases.
The acquired site will subsequently be contributed in-kind to Osan Urban Development Corporation, and is scheduled to be implemented as a complex urban development project centered on the development corporation, combining residential, office, and commercial functions with living SOC.
When cultural and living complex facilities and public transportation-linked infrastructure are developed together, not only will residents' quality of life improve, but practical regional economic ripple effects including increased floating population, revitalization of local business districts, and job creation are also anticipated.
Mayor Lee Kwon-jae stated, "The purchase of the Segyo Terminal site represents a clear declaration of transition beyond mere land acquisition, in which the public takes responsibility for and designs the city's direction." He added, "We will steadily reshape the long-unused space into a new center of northern Osan and a hub where the lives of citizens converge."
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