JYP Entertainment Scraps Plans For New Godeok Headquarters

JYP Entertainment has canceled the construction of its new headquarters in Godeok.

On October 8th, JYP Entertainment stated, “Since April 2026, when we first became aware of the land use change in front of the Godeok-dong new headquarters site, we have held multiple consultations with SH Corporation and Gangdong District Office and have made various efforts to continue the project. However, we have ultimately decided to withdraw from the Godeok new headquarters construction project.”

They added, “On August 31, 2026, we received an official response from SH Corporation stating that there are no procedural issues regarding the land use change in front of the new headquarters site, and restoration of the area to a park is impossible. With key environmental conditions for the project changed based on JYP’s standards, we have thoroughly reviewed many factors including the circumstances of leased buildings aside from the current headquarters, and have reached the final conclusion that proceeding with the project is no longer feasible.”

In response, JYP has formulated plans to purchase buildings near its current headquarters in Seongnae-dong to secure and strengthen a stable working environment for its employees.

Previously, in 2023, JYP Entertainment purchased a 10,675-square-meter site in Godeok-dong from SH Corporation for approximately ₩75.5 billion KRW (about $56.4 million USD). However, the adjacent land initially planned as a park was changed to a self-supporting facility zone where offices and retail spaces can be built, allowing buildings up to 18 to 19 stories tall.

The Godeok new headquarters was designed with a central courtyard structure. Therefore, if high-rise buildings are constructed on the nearby land, there would be clear visibility into the interior of the building, raising privacy concerns.

Due to this, JYP Entertainment demanded restoration of the park site, but SH Corporation maintains the need for the land use change, citing the need to fund school facility installations.

Source:Naver