[Official] JYP Entertainment cancels plans for new Gaodeok headquarters, to purchase building near current office

*This content was translated by AI.View Original

JYP Entertainment (hereinafter JYP) has canceled its plan to build a new headquarters in Gaodeok.

On the 8th, JYP stated, "Since first becoming aware of the change in land use for the plot in front of the new Gaodeok headquarters site in April 2026, we have held multiple consultations with the Seoul Housing & Communities Corporation (SH) and Gangdong District Office and made efforts from various angles to continue the project. However, we have ultimately decided to withdraw from the new Gaodeok headquarters construction project."

JYP further stated, "On August 31, 2026, we received an official response from SH stating that there were no procedural issues with the change in land use for the plot in front of the new headquarters site and that restoration to a park was not possible. As the key environmental conditions for advancing this project under JYP's standards have changed, we conducted a multi-faceted review of many related matters, including the circumstances of leased buildings other than our current headquarters, and reached the final conclusion that it is no longer feasible to proceed with the project."

In this regard, JYP has established a direction to purchase a building near its current headquarters in Seongnae-dong to secure and reinforce a stable working environment for its members.

Previously, in 2023, JYP purchased a site of 10,000 square meters (1만 675㎡) in the Gaodeok area from SH for approximately 75.5 billion won. However, because an adjacent plot originally planned as a park was changed to a self-sufficiency support facility zone, which allows for the construction of offices and sales facilities, buildings up to 18–19 stories high can now be erected there.

JYP's new Gaodeok headquarters was designed with a courtyard structure featuring a central yard. Consequently, if a high-rise building were constructed on the adjacent plot, the interior of the headquarters would be fully visible from above, raising privacy concerns.

As a result, JYP has been demanding the restoration of the park land, while SH has maintained its position that the change in land use is necessary for reasons such as securing funds for school facility installation.

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*This content was translated by AI.View Original