Yeouido

Yeouido(Korean:여의도;lit.Yeoui Island) is ariver islandon theHan RiverinSeoul,South Korea. It is Seoul's main finance, media, and investment banking district. It is 8.4 square kilometres (3.2 sq mi) large and has a population of 32,674 as of August 2023.

Yeouido

View of Yeouido fromSeogang Bridgeon theHan River(2024)
Yeouido Yeouido
Geography
Coordinates	37°31′26″N126°55′36″E
Area	8.4 km2(3.2 sq mi)
Administration
South Korea
Demographics
Population	32,674 (August 2023)
Korean name
Hangul	여의도
Hanja	Nhữ hĩ đảo
Revised Romanization	Yeouido
McCune–Reischauer	Yŏŭido

The island is located in theYeongdeungpo Districtof Seoul, and largely corresponds to the precinct ofYeoui-dong.The island contains theNational Assembly Building,where theNational Assembly of South Koreameets, theKorea Financial Investment Association,thelargeYoido Full Gospel Church,the63 Building,and the headquarters ofLG,Korean Broadcasting System,and theKorea ExchangeCenter. 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 theInternational Finance Center Seoul,Parc1 Tower,theFederation of Korea Industries Tower,as well as the iconic63 Building.

It was uninhabited until the construction of the peninsula's first airport,Yeouido Airport.As the airport was prone to flooding, it was eventually replaced by commercial and residential construction beginning in the late 1960s.

In 2024, thecity governmentpermitted buildings with floor area ratios up to 1600% from the previous 1000%, allowing the constructions of buildings over 350 meters.

Etymology

The island went by a number of names in theJoseonperiod, including Yanghwado (양화도) and Nauiju (나의주).Some sources claim that "Yeouido" can literally be interpreted as "Your Island", implying that people would want to give the island away because it is useless.This is because the island was once seen as an unreliable sandy island that flooded easily.According to theencyclopedia of Korean culture,the name originates from jokes people would say, going along the lines of "my island, your island", about the island when it went fully under the water except for the island's 'head', being the mountainYangmalsan,where thenational assemblycurrently is.On the other hand, an official Seoul tourism website describes the islands name as meaning "Broad Island" (넓은 섬).

Due to the island's political scene, the words 'Yeouidosaturi,or Yeouido dialect' has emerged into contemporary Korean, defining vague, gilded words of politicians.

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.Yeouido remained for the most part an uninhabited sandbar prior to the construction of Korea'sfirst airportin April 1924.The airport served both international, domestic, and military flights, and was also the site of a flight school.The airport was prone to flooding that made it unusable during the summer rainy season.Gimpo International Airporttook over Yeouido's commercial flights in 1958, andSeoul Air Basetook over its military functions in 1971.

Starting in the late 1960s, major housing developments were erected on the island, many of which are still in place in 2020.

The six-lane bridge connecting it to the mainland of Yeongdeungpo was built in 1970 as part of Han River development project led byPresidentPark Chung Hee,after which followed a period of rapid development. Formerly part ofGoyang,Yeouido-dong was formed as a separate entity in 1971.In 1975 the new National Assembly Building opened on the western side of the island. In 1985 the63 buildingwas completed and was the tallest and most well-known building in the country for many years.

Geography

Yeouido has an area of 2.9 square kilometers (Yeouido-dong covers 8.4 square kilometers) and is separated fromYeongdeungpoby the small Saetgang stream. The sandy floodplain was previously used for grazing livestock.

Politics

National Assembly Building with the 63 building in the background (left)

Yeouido is the center of politics in South Korea. Political organizations and their respective buildings dominate the western half of the island. Most prominently, theNational Assembly Buildingis located to the far west of the island. Construction of the building commenced in 1969 and was completed in 1975 and sits atop the site of the former Yeouido Airport. Prior to the opening of the National Assembly Building, the seat of government was located at theGeneral Government Buildingwhich was situated within the grounds ofGyeongbok Palace.

Due to its national importance, the area surrounding the National Assembly Building and its adjoining buildings is home to a significant police presence. Despite this, the grounds are usually open to the public and connect to the Han River Park which surrounds the site on three sides.

Most of the major South Korean political parties including theDemocratic Partyand thePeople Power Partymaintain their headquarters in Yeouido, close to the National Assembly Building.

Economics

See also:Economy of Seoul

Yeouido is considered to be the financial center of Seoul, hosting most of the country's largest financial institutions including:Industrial Bank,Kookmin Bank,Korea Stock Exchange and Federation of Korean Industries, Hana Bank, Shinhan Securities, NH Investment Securities, and Eugene Investment Securities. Most of these institutions are clustered on the eastern side of the island, opposite the political quarter on the western side.

Public parks

Yeouido Han River Park

Five parks are located in Yeouido. Notable among these are the Yeouido district of theHangang ParkandYeouido Park.Yeouido Park was formed in 1999 through the reclamation of a patch of land, known as Yeouido Square orMay 16Square, which had lain underasphaltfor 27 years and was used for various large public gatherings.In addition, a terminal for excursionferriesstands on the Han River shore.

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	Year	Notes
1	Parc1Tower A	333m	69	2020	Current tallest building in Yeouido.
2	Parc1Tower B	256m	53	2020
3	Three IFC Office Tower	279m	55	2012
4	63 Building	249m	60	1985
5	Federation of Korean Industries Head Office Building	245m	50	2013
6	Conrad Seoul	200m	37	2012
7	One IFC Office Tower	186m	32	2012
8	Two IFC Office Tower	176m	29	2012
9	S-Trenue	154m	36	2009
10	Yeouido RichensiaTower 1	151m	40	2003
10	Yeouido RichensiaTower 2	151m	40	2003
12	Yeouido Post Tower	150m	33	2020
13	LG Twin TowersTower 1	144m	34	1987
13	LG Twin TowersTower 2	144m	34	1987

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,andWonhyo Bridge.

Subway

Seoul SubwayLine 5andLine 9intersect atYeouido Station.Line 5 also stops atYeouinaru Station.Line 9 also stops atSaetgang StationandNational Assembly Station.

Gallery

• 
  The formerMBCheadquarter building
• 
  National Assembly Building
• 
  '63 Building'
• 
  Cherry Blossom Festival

See also

• Geography of South Korea
• Islands of Korea
• Han River

External links

• Yeouido-dong website
• Yeouido: Seoul Official Tourism (English)
• Tour2Korea profile of the island
• Yeuoido Spring Flower Festival 2007Archived2007-06-21 at theWayback Machine