Yeouido

Yeouido (Hangul: 여의도, English: Yoi Island or Yeoui Island) is a large island (or eyot) on the Han River in Seoul, South Korea. It is Seoul's main finance and investment banking district. Its 8.4 square kilometers are home to some 30,988 people.[1] The island is located in the Yeongdeungpo-gu district of Seoul, and largely corresponds to the precinct of Yeouido-dong. The island contains the National Assembly Building, where the National Assembly of South Korea meets, Korea Financial Investment Association, the large Yoido Full Gospel Church, the 63 Building, and the headquarters of LG, Korean Broadcasting System, and the Korea Exchange Center. Due mainly to its importance as a financial district and its central location, Yeouido is home to some of Seoul and South Korea's tallest skyscrapers, including International Finance Center Seoul, Parc1 Tower, the Federation of Korea Industries Tower, as well as the iconic 63 Building.

Yeouido
Korean name
Hangul
Hanja
Revised RomanizationYeouido
McCune–ReischauerYŏŭido

Etymology

The name of the island means "You can have it," i.e., "useless". This was because whenever the Han River flooded, only a small patch of high ground remained above water level.

History

Being a vacant spot convenient to the capital of Joseon, Yeouido was used as a national pasture for sheep and goats according to a 16th-century geographical record.[2] Yeouido remained for the most part an uninhabited sandbar prior to the construction of Seoul's first airport in April 1924.[3] The airport served both international, domestic, and military flights, and was also the site of a flight school.[4]

The six-lane bridge connecting it to the mainland of Yeongdeungpo was built in 1970 as part of Han River development project led by President Park Jung-Hee, after which followed a period of rapid development. Formerly part of Goyang, Yeouido-dong was formed as a separate entity in 1971.[4] Today, the island is often referred to as South Korea's "Wall Street", and hosts the state-owned broadcasting station KBS.

Main Institution

Yeouido is the center of politics and economy, and each party's headquarters and social organizations are located in the main hall. In addition, it has one of the most exclusive financial institutions specialized in the "Skyscrapers" business in Seoul: Industrial Bank, Kookmin Bank, Korea Stock Exchange and Federation of Korean Industries, Hana Bank, Shinhan Securities, NH Investment Securities, and Eugene Investment Securities.

Major churches are also located in Yeouido, as well as major TV stations, newspapers such as The Kookmin Ilbo, the Financial News Service, and the Yeouido Baptist Church. There are the Korea reinsurance Association, the Korea Securities Finance Association and the LG Twin Towers. Currently, a 73-story Park One Tower is under construction between the two towers. The schools include Yeouido Elementary School, Yoonjung Elementary School in Seoul, Yeouido Middle School, Yoonjung Middle School, Yeouido High School, and Yeouido Girls' High School. There is also a private pension center and a teachers' allowance center.

Public parks

Five parks are located in Yeouido. Notable among these are the Yeouido district of the Han River Public Park and Yeouido Park. Yeouido Park was formed in 1999 through the reclamation of a patch of land, known as Yeouido Square or 5/16 square, which had lain under asphalt for 27 years and was used for various large public gatherings.[5] In addition, a terminal for excursion ferries stands on the Han River shore.

Unit of area

The "size of Yeouido" is often used by South Korean media as a means of comparison for measuring an unfamiliar area. For example, it may be said that city A in country Y is twice the size of Yeouido.

Festivals
  • Cherry Blossom Festival - Every April, the Cherry Blossom Festival is held in the streets of Yeouido.
  • Seoul International Fireworks Festival - On Saturdays of October, the Seoul International Fireworks Festival is held at Hangang Park.

Tallest buildings
Rank Name Height Floors Years Notes
1 Three IFC Office Tower 279m 55 2012 Tallest building in Yeouido.
2 63 Building 249m 60 1985
3 Federation of Korean Industries Head Office Building 245m 50 2013
4 Conrad Seoul 200m 37 2012
5 One IFC Office Tower 186m 32 2012
6 Two IFC Office Tower 176m 29 2012
7 S-Trenue 154m 36 2009
8 Yeouido Richensia Tower 1 151m 40 2003
8 Yeouido Richensia Tower 2 151m 40 2003
10 LG Twin Towers Tower 1 144m 34 1987
10 LG Twin Towers Tower 2 144m 34 1987

Under Construction
Name Height Floors Completed Date Notes
Parc1 Tower A 333m 69 2020
Parc1 Tower B 256m 53 2020
Yeouido Post office Reconstruction 150.80m 33 2020

Transportation

Buses

There are four colour-coded bus lines that operate in Yeouido:

  • Yellow buses run a circular route on Yeouido only
  • Red buses run different routes all over Yeouido only
  • Green and Blue buses connect Yeouido to numerous other points in Seoul

Bridges

There are 3 bridges between Yeouido and Mapo: Mapo Bridge, Seogang Bridge, and Wonhyo Bridge.

Subway

Isolated for centuries, Yeouido is now tightly-connected to the Seoul transportation grid. Seoul Subway Line 5 and Line 9 intersect at Yeouido Station. Line 5 also stops at Yeouinaru Station. Line 9 also stops at Saetgang Station and National Assembly Station.

  • MBC headquarter building
  • National Assembly Building
  • Seoul Building63
  • Cherry Blossom Festival

See also

References
  1. Figures as of March 2006. "동현황". Yeouido-dong website (Korean). Retrieved 2006-04-16.
  2. "동유래". Yeouido-dong website (Korean). Retrieved 2006-04-16.
  3. According to "동현황". Yeouido-dong website (Korean). Retrieved 2006-04-16.. However, the Naver Encyclopedia asserts that the airport opened in 1916, and that the homecoming flight of An Chang-nam, the first Korean pilot, landed here in 1922.
  4. "동현황". Yeouido-dong website (Korean). Retrieved 2006-04-16.
  5. "Yeouido". Tour2Korea.com. Archived from the original on 2005-08-30. Retrieved 2006-04-16.

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