A luxury officetel — a studio-style residential-office building — with large-size layouts, a 48th-floor sky community and hotel-grade fitness facilities is set to rise in Seoul's Mokdong district. The high-end project follows earlier developments such as The Parkside Seoul in Itaewon and Brighton Yeouido, and aims to capture demand for premium housing with services including a membership fitness club run by Josun Hotels & Resorts.
GS Engineering & Construction (006360.KS) said on the 20th that it will begin the presale of Mokdong Yunseul Xi next month. A promotional center is currently operating at 405-268 Mokdong, Yangcheon-gu, and a model house is planned for 919-8 Mokdong, Yangcheon-gu. Move-in is scheduled for the second half of 2030.
Mokdong Yunseul Xi will be built on the former site of KT (030200.KS), spanning six basement levels and 48 above-ground floors across three towers. Alongside 651 officetel units ranging from 114 to 203 square meters in exclusive floor area, the complex will include neighborhood facilities and business facilities. Every unit will have a balcony, and some will be offered as duplex penthouses.
GS Engineering & Construction is developing Mokdong Yunseul Xi under a new housing model it calls "Hypert," which combines the practicality of an apartment with the upscale features of high-end residences. The name blends "hyper," the Latin-derived prefix meaning "to transcend," with "apartment." A GS Engineering & Construction official described it as "a hybrid housing category that enables an upscale community and one-stop living within the complex, built on practical floor plans in a prime location."
The complex name, "Yunseul," comes from a native Korean word meaning the sparkling ripples created when sunlight and moonlight reflect off water. The concept is also reflected in the building's exterior. The lower floors will feature "Yunseul," a work by the internationally known artist Ned Kahn, an artist who visually expresses invisible natural movements such as wind, light and water on building surfaces.
The complex will offer community facilities befitting a high-end residence. A sky community on the 47th floor of Tower 102 will house a wine reserve, private dining rooms, a party-style guesthouse and various spaces for watching films, listening to music and holding meetings. A rooftop garden will be built on the 9th floor. "Concorde Club by Josun," a membership fitness club operated by Josun Hotels & Resorts, will also open within the complex. A concierge service is under discussion as well, as part of plans to strengthen premium services for residents.
Residents will also have access to Mokdong's transportation, education and living infrastructure. The complex sits near Omokgyo Station on Subway Line 5, making it convenient to reach major business districts such as Yeouido and Gangnam. It also offers access to a wider road network, including Gukhoe-daero, the West Peripheral Route, Olympic-daero and Gangbyeonbuk-ro.
Nearby schools include Seojeong Elementary, Mokun Middle, Yangjeong High and Jinmyeong Girls' High, and the Mokdong cram-school district is within walking distance. Shopping and cultural facilities such as Hyundai Department Store, E-Mart and Megabox, as well as large medical facilities including Ewha Womans University Mokdong Hospital, are also close by. Leisure facilities such as Omok Park, Anyangcheon Stream and Mokdong Sports Complex are in the vicinity.
Meanwhile, market demand for officetels with large floor areas, like Mokdong Yunseul Xi, is on the rise. As the officetel market expands from small rental units toward mid- to large-size residential products suitable for families to live in, price trends by size have diverged.
According to KB Real Estate, sale prices of large officetels in Seoul (exclusive floor area exceeding 85 square meters) rose 8.6% in June this year from the same month a year earlier. Mid-to-large units (over 60 and up to 85 square meters) rose 3.8% and mid-size units (over 40 and up to 60 square meters) rose 1.5%, while small units (over 30 and up to 40 square meters) fell 0.1% and very small units (30 square meters or less) fell 0.8%. In short, the larger the area, the stronger the relative price gain.
Industry watchers see mid- to large-size officetels emerging as an alternative housing product as the burden of apartment purchase and jeonse prices in Seoul grows and lending rules tighten. In particular, units exceeding 85 square meters can accommodate children's rooms, a master bedroom, a study and storage space, allowing families to live in them — unlike smaller officetels — a factor cited as drawing demand.
