JYP withdraws plan for new building in Godeok, citing difficulties despite efforts

Additional building purchase planned in Songnae-dong, where the current headquarters is locatedBird's-eye view of the new headquarters JYP Entertainment planned to build in Godeok-dong, Seoul. / Yoo Hyun-joon Architecture[THE FACT|Reporter Choi Hyun-jung] JYP Entertainment has ultimately withdrawn its plan to build a new headquarters in Godeok.JYP Entertainment announced in a statement on the 8th, "We have finally decided to withdraw the Godeok new headquarters construction project."Previously, JYP Entertainment purchased land for approximately 75.5 billion won in October 2023 to build a new headquarters in Godeok Biz Valley, located in Godeok-dong, Gangdong-gu, Seoul. JYP Entertainment, with architect Professor Yoo Hyun-joon in charge of the design, planned for the new headquarters to be a 5-story basement and 17-story building, including not only office space and practice rooms but also a performance hall with about 800 seats and a space open to the public.However, JYP Entertainment began to reconsider the construction of the new headquarters due to concerns about the invasion of privacy of its artists and damage to the landscape, as the park that was planned to be created in front of the new headquarters at the time of land purchase was changed to a self-sufficient facility zone that could accommodate buildings up to 19 stories high.JYP Entertainment explained, "Although we have made numerous efforts to continue the project through multiple consultations with SH Corporation and Gangdong-gu Office since April 2026, when we first became aware of the change in land use in front of the Godeok new headquarters site, we received an official response from SH Corporation on August 31, 2026, stating that 'there are no procedural issues with the change in land use in front of the new headquarters site, and restoration to a park is also impossible.'"They added, "Based on our standards, as the core environment of this project has changed, we have concluded that it is no longer possible to proceed with the project. We have established a plan to secure and reinforce our work environment by purchasing a building near our current headquarters in Seongnae-dong. We will continue to achieve sustainable growth by closely cooperating with the local government, with the Seongnae-dong headquarters as our base."The following is the full statement from JYP Entertainment.JYP Entertainment (hereinafter referred to as "the Company") has made numerous efforts to continue the project through multiple consultations with SH Corporation and Gangdong-gu Office since April 2026, when it first became aware of the change in land use in front of the Godeok new headquarters site, but has ultimately decided to withdraw the Godeok new headquarters construction project.On August 31, 2026, the Company received an official response from SH Corporation stating that "there are no procedural issues with the change in land use in front of the new headquarters site, and restoration to a park is also impossible." As the core environment for the promotion of this project, according to our standards, has changed, we have extensively reviewed various circumstances, including the situation with leased buildings in addition to our current headquarters, and have reached the final conclusion that it is no longer possible to proceed with the project.Therefore, the Company has established a plan to secure and reinforce a stable work environment for its members by purchasing a building near the current headquarters in Seongnae-dong. We kindly ask for your broad understanding and consideration, as this decision was made after extensive review and careful consultation.Since relocating to Gangdong-gu in June 2018, the Company has continued to grow and will cooperate closely with the local government, with the Seongnae-dong headquarters as its base, and will continue to achieve sustainable growth in the future.laugardagr@tf.co.kr[Entertainment Department | ssent@tf.co.kr]