Seoul's Jamsil Sports‑MICE Complex Secures Private Financing and Construction Agreement

Seoul city has signed an implementation agreement to launch the Jamsil Sports‑MICE Complex, a private‑investment project that will transform the area around Jamsil Olympic Stadium into a mixed‑use hub. The development will include a 30,000‑seat dome baseball stadium, exhibition and convention facilities roughly 2.5 times the size of COEX, a 4‑star business hotel, a 5‑star hotel, office towers, a 841‑room hotel‑residence component and extensive public spaces linked to the Han River waterfront. The total project cost is estimated at 2.6955 trillion won, financed entirely by private investors, with an expected economic impact of about 595 trillion won and the creation of roughly 2.42 million jobs.

Hana Financial Group will act as the lead financial arranger, organizing about 4 trillion won of project‑finance (PF) for the venture. Hana Securities will serve as the representative PF sponsor while Hana Bank joins as a co‑lead arranger. The financing is structured through a special purpose company, Seoul Smart MICE Park, led by Hanwha Engineering & Construction. Mayor Oh Se‑hoon highlighted the project’s significance, noting that it proceeds without any fiscal subsidies and demonstrates cooperation between the city and the central government to overcome high‑interest and PF market challenges.

The complex is intended to host domestic and international sporting events, including KBO baseball games and potential international basketball tournaments, positioning Seoul as a global‑competitiveness hub for sports, exhibitions, and conferences.