A New City and Business Hub for South Korea

New Songdo City is rising in South Korea, part of an effort to lure foreign investment and business that will help revitalize the struggling economy.

Architectural Record takes a look at the design of the new city, and how it aims to attract business.

"While South Korea has been engaged in large-scale landfill construction since the 1970s, necessitated by a shortage of buildable area near the nation's capital, the impetus for building NSC came after the South Korean economy hit the skids in 1997. At the urging of the International Monetary Fund, the South Korean government designated the site as a free economic zone with a full-fledged city to attract foreign investment. To jump-start the influx of money from abroad, the government made an unprecedented move by selling the land to this private, international joint venture and putting the new owners in charge of the city's development. 'Basically, it is a free-market experiment,' says KPF principal James von Klemperer, FAIA."

Full Story: New Songdo City

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Book cover of Contemporary Debates in Urban Planning

Contemporary Debates in Urban Planning

Featuring thought-provoking commentary and insights from some of the leading thinkers and practitioners in the field.
$18.95

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.
$19.00