JYP Entertainment has officially walked away from its long-planned new headquarters in Godeok-dong, ending a project that began with a major land purchase in 2023.
According to Koreaboo, the company announced the decision on October 8. JYP said it had known since April 2026 about a land use change in front of the Godeok-dong site, and had held multiple consultations with SH Corporation and the Gangdong District Office to keep the project alive.
On August 31, 2026, SH Corporation stated there were no procedural issues with the rezoning and restoring the park was impossible. JYP said key conditions had changed by its standards and, after reviewing the circumstances of its leased buildings and other factors, concluded the project was no longer feasible.
Instead, the company said it plans to purchase buildings near its current headquarters in Seongnae-dong to secure a stable working environment for its employees.
JYP bought the 10,675-square-meter Godeok-dong site from SH Corporation in 2023 for approximately â‚©75.5 billion KRW (about $56.4 million USD). Adjacent land originally planned as a park was rezoned as a self-supporting facility zone allowing buildings of 18 to 19 stories.
The design centered on an open courtyard, and JYP said neighboring high-rises would have clear sightlines into the building, raising privacy concerns. It demanded the park be restored, but SH Corporation kept the rezoning, citing the need to fund school facility installations.
No official statement was available on the future of the Godeok-dong site itself.
