Business Outline

Business Outline

Business Outline

The area plan for the project is 25F/B3 in scale, with a ground floor area (GFA) of 53,289.52㎡.

Location 3-2, 3-6, 4, 4-4, Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do
Land Area 18,885.40㎡
District Use General commercial area, first development district
Construction Area 3,717.70㎡
Total Floor Area 53,289.52㎡
   Ground Level 39,950.45㎡
   Underground Level 13,339.07㎡
Building Coverage 19.69% (Legal standard within 80%)
Floor Area Ratio 211.54% (Legal standard within 800%)
Construction Scale Total of 2 buildings. hotel (432 rooms, B3F~25F), convention building(B3F~3F)

Project Site

4, Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Republic of Korea

Project Site

Locational Strength

The project site has a high potential for growth due to its convenient location and accessibility through various subway lines and expressways, as well as due to several main development plans nearby.

The site is located near the expected sites of the Alphadom City and the Second Pangyo techno-valley, and among High Tech Industrial Complexes such as the Bundang IT Valley.
The site is conveniently accessible through the Gyeongbu Expressway and Bundang-Suseo Expressway among others, and through the well-developed public transportation network such as via the Shinbundang line and the Bundang line.


Locational Strength



- Prime location surrounded by the Business District of Pangyo, Sunae subway station, and Jeongja subway station.

- Several major conglomerates have plans to relocate to Bundang Business District (BBD).

- Convenient vehicle accessibility through Gyeongbu Expressway, Bundang-Suseo Expressway, etc.

- Well-developed public transportation infrastructure such as Shinbundang subway line and Bundang subway line.

- Adjacent to the First Pangyo techno-valley and Korea Job World.



- No luxury high-end hotel located nearby (as of August 2016).

- Increasing number of businesses (especially businesses with more than 100 employees) and employees in Seoul Pangyo.

- Increasing number of overseas tourists and long-staying tourists.




- Alphadom City (2018E).

   · 137,497㎡ complex development project nearby Pangyo Station.

   · Residential / office / commercial facilities (Samsung C&T Corporation and Hyundai Department Store opened recently).

- The Second Pangyo techno-valley (2022E).

   · Multiple complex development project connecting the First Pangyo techno-valley and Alphadom City.

   · Target global firms’ (including Chinese firms) R&D centers.

- Baek-hyun area / station (planned).

   · Office / convention / commercial facilities.

- Transportation Infrastructure Development Plans.

   · Bundang line nad Shinbundang line connection plan.

Land Decree



The site comprises of 4 lots located in a general commercial area, with a total size of 18,885.4㎡. The current owner is Seoul Pangyo and the developer has secured the land-use right through a leasing agreement with Seoul Pangyo.

The site comprises of 4 lots of public land, located in a general commercial district.

Besitz, the developer, has signed a 30-year-leasing agreement on the project site with Seoul Pangyo on November 13, 2015.

Besitz Comprehensive Development Ltd has the Right of First Offer (ROFO) to purchace the land before the lease ends.

Land Decree

Land Decree and Summary


Location Lot # Land Area(㎡) Regional District Ownership
Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 3-2 4,971.7 General Commercial District Public Asset
Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 3-6 88.3 General Commercial District Public Asset
Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 4 13,346.4 General Commercial District Public Asset
Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 4-4 479.0 General Commercial District Public Asset
Total 18,885.4

Business Plan Details

The project goal is to develop and operate a competitive luxury and residential hotel, which provides a differentiated hotel service. The planned grand opening is in January 2020.

Business Goal

Value-added Creation

- Develop and operate a distinguished luxury hotel by utilizing the public land of Seoul Pangyo.

- Devise a highly profitable business plan by focusing on the value of the constructed asset and reducing unnecessary costs.

Competitive Luxury hotel

- Absorb the existing latent demand for a luxury hotel and the demand for an extended-stay residential hotel in the area.

- Maximize operational efficiency and secure hotel value through prestigious global brand affiliation.

Differentiated Hotel Service

- Satisfy various customer needs by providing luxurious hotel facilities and services at a reasonable price range.

- Host distinctive events in the Convention Center located in the annex building.

Development Concept


Space Composition Plan

Business Outline

Business Outline

Business Outline

The concept of the project is to create a “Future-oriented Cultural Complex Space” representing Southern Gyeonggi-do, by developing and operating a 432-room high-end luxury hotel along with a convention center facility.

The development concept is to create a space composed of a luxury hotel and a convention center in order to meet various customer needs.

Development Concept


- 432 rooms

Development Concept

- Futuristic cultural complex space representing the southern part of Gyeonggi-do; locational advantage, differentiated service, reasonable price, professional operation and more.

Differentiation Strategy

- Create quality city-space which could targets various customer needs; business, tourism, cultural, leisure and more.

   · Prestigious global brand affiliation.

   · Separate convention center to hold various cultural events, including international meetings, concerts, exhibitions, etc.

   · Differentiated additional facilities including spa facilities, F&B and more.

Space Composition Plan

High-end luxury Hotel
Convention Center
2nd basement - Driver’s lounge
1st basement

- Beauty shop   - Wedding center

- Massage shop   - Flower shop

- Jewelry shop   - Convenient store

- Tailor shop   - Driver’s lounge

1st floor

- Restaurant & Bar lounge

- Bakery & Coffee lounge

- Tennis court

   - Banquet hall

   - Hall office

2nd floor

- Buffet Restaurants

- Prunier Restaurant

   - Banquet hall

3rd floor

- Fitness Club   - Sauna

- Gymnasium   - Indoor Swimming pool

- Snack bar

   - Cafeteria

4th floor

- Club lounge   - Reception

- Snack bar   - Business Center

   - Indoor golf range

5th ~ 24th floor - Room(432)
25th floor - Sky lounge & Bar

Room Composition


Operation Plan

The project will be operated by a consigned global hotel operator to enhance asset value and to maximize operational efficiency.

Maximizing operational efficiency through hotel consignment operation and providing differentiated high-end services at a reasonable price range.

95% of the hotel is composed medium-sized rooms for which there is most demand along with 4 types of larger rooms to meet various customer needs.

Consignment Operation Overview

Consignment Operation Overview


- Based on consignment operation agreement with business owner, the operator shares their brand name and dispatches its skilled employees for the contracted period.


- Operational Efficiency

   · Stable operation leads to stable profit, and eventually leads to Break-Even Point of the business at shorter period.

   · Acquisition of standardized operating system.

   · Enhancement of asset value and financial solvency.

- Brand value

   · Utilization of prestigious global hotel brand.

   · Facilitation of promotion at the early stage of operation.

- Human resource

   · Securement of skilled human resources and know-how.

Room Composition Plan

Room Composition Plan

Classification Room Type # of room Composition Ratio Area/room(㎡) Gross Area(㎡) Area Ratio
luxury Hotel
A Type 256 59.26% 38.21 9,781.76 48.13%
B Type 172 39.81% 57.54 9,896.88 48.70%
C Type 2 0.46% 205.79 411.58 2.03%
D Type 2 0.46% 116.16 232.32 1.14%
Total 432 100% 20,322.54 100%

Area Plan

Area by Floors

Class. Total GFA High-end luxury hotel Convention center Parking
Rooms Other
/ Common
/ Common
B3F 2,000.17 - - 2,000.17 - - -
B2F 5,855.00 - 46.53 2,138.90 - - 3,669.57
B1F 5,483.90 - 583.98 1,817.42 - - 3,082.50
Subtotal 13,339.07 - 630.51 5,956.49 - - 6,752.07
1F 2,401.15 - 831.02 420.58 449.59 699.96 -
2F 3,717.70 - 2,018.30 307.61 662.40 729.39 -
3F 3,055.30 - 1,951.69 374.22 181.91 547.48 -
4F 1,208.30 - 740.33 336.56 75.95 55.46 -
5F 1,408.00 1,016.75 - 391.25 - - -
6F 1,408.00 1,014.59 - 393.41 - - -
7F 1,408.00 1,014.59 - 393.41 - - -
8F 1,408.00 1,014.59 - 393.41 - - -
9F 1,408.00 1,014.59 - 393.41 - - -
10F 1,408.00 1,014.59 - 393.41 - - -
11F 1,408.00 1,014.59 - 393.41 - - -
12F 1,408.00 1,014.59 - 393.41 - - -
13F 1,408.00 1,014.59 - 393.41 - - -
14F 1,408.00 1,014.59 - 393.41 - - -
15F 1,408.00 1,014.59 - 393.41 - - -
16F 1,408.00 1,014.59 - 393.41 - - -
17F 1,408.00 1,014.59 - 393.41 - - -
18F 1,408.00 1,014.59 - 393.41 - - -
19F 1,408.00 1,014.59 - 393.41 - - -
20F 1,408.00 1,014.59 - 393.41 - - -
21F 1,408.00 1,014.59 - 393.41 - - -
22F 1,408.00 1,014.59 - 393.41 - - -
23F 1,408.00 1,014.59 - 393.41 - - -
24F 1,408.00 1,014.59 - 364.83 - - -
25F 1,408.00 - 1,249.60 158.40 - - -
Subtotal 39,950.45 20,322.54 6,790.94 9,434.83 1,369.85 2,032.29 -
Total 53,289.52 20,322.54 7,421.45 15,391.32 1,369.85 2,032.29 6,752.07

Demographics and

Economic Indicators

of Seoul Pangyo

The demographical and economic indicators of Seoul Pangyo show that the city’s industry has outgrown other major cities, especially in virtue of rapid growth of Bundang district including BBD/Pangyo.

Despite the relatively slow growth in overall population of Seoul Pangyo, the growth rate of Bundang district (where the project site is located) has highly outgrown other major cities including Seoul and Incheon.

The economic indicators including GRDP and the Land Price Index of Seoul Pangyo have shown stable and rapid growth over the past years.

Demographics of Seoul Pangyo and the Other Major Cities(2008~2015)

Demographics of Seoul Pangyo and the Other Major Cities

GRDP Growth Rate of the Major Cities(2008~2015)

GRDP Growth Rate of the Major Cities

Land Price Index of Seoul Pangyo(2005~2015)

Land Price Index of Seoul Pangyo

key Statistics On

Industry Of

Seoul Pangyo

Seoul Pangyo, by creating favorable business environment, has successfully induced companies, including major conglomerates, mid-size firms and venture companies, to move in.

The industry of Seoul Pangyo have shown stable and continuous growth over the past years; the growth is expected to be continued, especially around BBD/Pangyo district.

The number of venture companies in Seoul Pangyo has been showing steady increase at a rate of 7.2% (CAGR); surpassed 1,000 as of 2012, reached 1,297 in 2015.

Companies and Employees(2010~2014)

Companies and Employees

Industry Sector Composition(2014)

Industry Sector Composition

Number of Venture Companies in Seoul Pangyo(2010~2015)

Number of Venture Companies in Seoul Pangyo

Business Complex

Development Plans

In Seoul Pangyo

Currently, “Alphadom-City” and “The second Pangyo Techno-Valley,” two additional large-scale business complex developments are planned in Seoul Pangyo near the project site; Increase in demand for accommodation is forecasted.

Two major business complex developments are expected to spur accommodation demand from business clientele.

The second Pangyo techno-valley is a government-driven development, as the central part of ‘The Urban High-tech Industrial Complex Development Plans’.

The complex composed of MICE, office, retail, cultural and lodging facilities is currently on the stage of planning; the construction is expected to begin in 2018.


Alphadom City Land Area 137,498m2
Gross Floor Area 1,219,173m2
Total Project Cost KRW 5.03tn
Period of Project 2007~2018E
Main Tenants Samsung C&T, Hyundai Department Store
Facility Composition Office, Housing, Lodging, Retail, Cultural facilities

The Second Pangyo Techno-valley

Pangyo Technovalley Total Area 130,000py
Total Project Cost KRW 1.5tn
Period of Project 2015~2019E
Main Target R&D Centers of Global Companies

Beakhyun Urban Development Plan

Beakhyun Urban Development Plan Location Area around 1, Jeongga-dong, Bundang-gu, Seongnam
Land Area 206,280m2
Project Goal Development of MICE Industrial Cluster
Facility Composition Exhibition, Office, Retail, Clutural, Lodging facilities
Period of Project 2015~2022E
Form Joint Business of Public and Private Sector

Major Cities In

Metroplitan Area

Incheon, Suwon, Goyang, and Ansan are major metropolitan cities located near Seoul, with similar characteristics to Seoul Pangyo -self-sufficient cities with growing industries.

Suwon city, which is located adjacent to Seoul Pangyo, has well-established industry on the basis of conglomerates’ research complex, which led to a high demand of accommodations; Suwon City’s accommodation facilities far outnumber other metro cities’.

Seoul Pangyo, which was once developed as a Bed town to absorb excessive housing demands of Seoul, is currently growing into a self-sufficient city by the absorption of business relocation demands of Seoul.

Major Cities in Metropolitan Area

Major Cities in Metropolitan Area


Population: approximately2.93 million

Main industry: As a port city, Incheon is famous for ocean industry and export trade and has the Free Economic zone such as Songdo. Especially the machinery industry is active around the industrial complex.


Population: approximately1.18 million

Main industry: Major institutes, such as Meteorological Administration, Rural Development Administration, National Geographic Information Institute, are located in Suwon. In addition to conglomerates’ research institutes(e.g.Samsung, SK), lots of businesses with more than 100 employees are located in the area.


Population: approximately1.03 million

Main industry: Traditionally famous as a representative manufacturing area of the metropolitan area. But after the development of Ilsan Newtown, service industry is also active due to the change in industrial function and increases in land prices.


Population: approximately0.7 million

Main industry: 99% of the businesses in national industrial complex comprise of small and medium-sized businesses. The establishment of the industry focuses on Steel, electric electronic, machinery, petro chemistry.

Hotel Supplies

In Major Cities

Compared to other major cities with similar characteristics, Seoul Pangyo appears to have relatively few hotel facilities and rooms; Also, currently there is no Luxury-scale hotel in Seoul Pangyo.

Compared to other major metropolitan cities, number of hotel facilities and rooms supplied in Seoul Pangyo are far less than average.

Currently, Seoul Pangyo has only one Deluxe (4-Star) Hotel, and has no Luxury-scale (5-Star) Hotel.

Major Cities in Metropolitan Area

Major Cities in Metropolitan Area

Number of Rooms in Major Cities by Hotel Scale

Number of Rooms in Major Cities by Hotel Scale

Estimation Of

Hotel Demands

In Major Cities

Compared to other major cities, Seoul Pangyo appears to have relatively few hotels and rooms. Both indicators –the number of businesses per hotel room, and the number of population per hotel room, indicate the insufficient supply of accommodation facilities in Seoul Pangyo.

Indicator : Businesses to Room

Indicator : Businesses to Room

The number of medium-sized businesses in Seoul Pangyo has been showing a steady growth over the past years; 5-year CAGR of 8.69%.

The number of business per hotel room in Seongnam-si is 0.56, which is the highest among major cities; implies insufficient number of hotel rooms considering the city’s industry scale.

Incheon Suwon Goyang Seongnam Ansan
Rooms 8,528 1,884 489 735 722
752 313 194 411 359

Indicator : Population to Room

Indicator : Population to Room

The number of people per hotel room in Seongnam-si is 1,322, which is higher than Incheon/Suwon/Ansan by x3.9/x2/ x1.4; another implication of insufficient supply of hotel rooms compared to other cities.

Incheon Suwon Goyang Seongnam Ansan
Rooms 8,528 1,884 489 735 722
Population 2,925,815 1,184,624 1,027,546 971,424 697,885



Organization structure

Company Profile

Company name BESITZ Comprehensive Development CO., LTD.
President Hwang, Sung Taek
Establishment February 26, 2004
Location 11th Floor, amcosquare720, 14, Eonju-ro 85-gil, Gangnam-gu, Seoul, S.Korea
Tel / Fax / E-Mail +82 (0)70 4170 6919 / +82 (0)2 554 4438 /
Business type Type : Real estate industry
Main Business Trade business

Leasing real estate


Real estate development work
Organized team Strategic planning, Architecture, Law, Accounting


2014. 02 Hanmoo Convention

Proposal for Selection of GKL Foreigners-only Casinos
2012. 11 Korea Federation of Teacher’s Associations

The Korea Federation of Teacher’s Associations Building Remodeling Business
2012. 09 Soongsil University

Development Project of Soongsil University complex Facility
2012. 06 Korea Asset Management Corporation

School Facilities Complexation Plan Using National Property
2012. 01 Gimpo city hall (local gorvenment)

Development Project of Gimpo Taeri Korean Style house Complex
2011. 10 Chungnam Techno Park

Development Project of Chungnam Techno Park Knowledge Industrial Center
2011. 05 TIMAH

Development Project of Bangka and Belitung of Indonesia
2011. 02 Enis Co. Ltd.

Development Project of Jeju Myosanbong Tourist Region
2010. 11 Incheon Free Economic Zone Authority

Internationalization Strategy of Songdo Landmark City
2010. 10 Masdar

Feasibility Study and Master Planning on Construction Masdar New Town KCTC of UAE
2010. 10 Korea Asset Management Corporation

Research on the Development Plan and Efficient Management of Small National Property
2010. 09 OAO KAD-L

Development Project of Russia Project KUDROVOⅡ
2010. 09 Korea Electric Corporation

Business Basic Plan on Optimum Utilization of South Branch Site of Korea Electric Power Corporation
2010. 08 Hanam Urban Innovation Corporation

Development Project on The Cheonhyeon and Gyosan District Eco-friendly Multiple Complex of Hanam-city
2010. 07 Gumi city Hall (local gorvenment)

Utilization Plan on The Kumoh National Institue of Technology Site
2010. 03 SKTELECOM

Research for the Plan for an Index of City Management
2009. 10 Chungnam Techno Park

Development Project on Construction of Cheonan Valley Mansion Type Multiple Complex
2009. 08 Korea Institute for Advancement of Technology

Research on the Long-term Development Strategy and Progress Plan of Korea Techno Park
2009. 06 Korea Asset Management Corporation

Research on the Utilization Improvement of National Land


Hwang, Sung Taek

Current Besitz Comprehensive Development Co., Ltd. President
Soong-Sil University, Affiliated Professor, Ph.D. in Business Administration
Education Soong-Sil University MBA Master's degree (Project Management)
Soong-Sil University Doctor's degree (Operation Management)
Previous Research Plan for Efficient Manage and Development on Small Scale National Land
Korea Technopark Research Plan and Long Term Development
Master Plan with Validity Analysis to Build KCTC in UAE Masdar New Urban Development
Research Plan to Utilize Education Complex Facility using National Land Use
Research on Techno parks’ management performance comparison based on Malcolm Baldridge National Quality Award (MBNQA) appraisal standard by country
Understanding Enterprise Isomorphism by Self-Determinative Innovation Behavior
Political Project Research on Rental Apartment with Urban Development Corporation
Research on the Development Plan of MICE industry

Park, Jong Woo

Current Besitz Comprehensive Development Co., Ltd. General Director
Soong-Sil University, College of Business, Professor
Education George Washington University, B.B.A, International Business
George Washington University, M.A, Engineering Management
George Washington University, Ph.D, Engineering Management
Previous 2004. 01 Real Estate Consultant
2008. 01 ~ Now Korean Standards Association Consultant
2009. 01 ~ Now Human Resources Development Service of Korea Consultant
2009. 01 ~ Now Korea Hydro & Nuclear Power Co., Ltd. Consultant
2009. 01 ~ Now Hyundai Motor Group Consultant
2010. 01 – Present Besitz Development Co., Ltd. General Director

Kim, Hye Jung

Current Besitz Comprehensive Development Co., Ltd. Internal Director
DOT.N Co., Ltd. CEO
City Culture Promotion Institute, Senior Researcher
Education Kyung Hee University, M.A, Management MBA
Soong-Sil University, Ph.D, Engineering Management
Previous 2010. 12 UAE ABUDABI Masdar City (KCTC) MOCK-UP
2013. 03 Soong-Sil Univ. Complex Planning
2013. 09 Korean house complex of Culture kimpo
2014. 06 Culture policy planning of seongnam in kyungi
2014. 08 Culture square proposal in Seoul

Lee, Eugene

Current Besitz Comprehensive Development Co., Ltd. Attorney at Law
Education NY University Stern School of Business
SUNY Stony Brook: Bachelor of Arts (B.A.)
University of Connecticut School of Law: Juris Doctorate (J.D.)
Legal License: NY Bar License / NJ Bar License
Previous Department of Justice, Antitrust Division (2-3 Years) - Paralegal Specialist Outstanding Performance Award
Department of Justice, U.S. Attorney's Office District of Columbia (8-9 Years) - Transnational Investigation Team
Victim Witness Coordinator
Legal Support Team with Top Secret - SCI Clearance
Recipient of Dept. of Justice, Attorney General Director's Award

Hwang, Hwi Kun

Current Besitz Comprehensive Development Co., Ltd. Internal Director
PMG Law Firm, Lawyer
Education POSTECH, Physics (Five Semesters)
College of Law, Seoul University
Judicial Research and Training Institute, Class of 32
Previous 2003. 11 Hankuk University of Foreign Studies, Institute for Legal Research, Academic Symposium on the Conflict of Laws in China
2005. 05 National Pension Service, Lecture on Litigation
2005. 07 Korea Productivity Center, Lecture on Industrial Property Rights for Legal Professionals in the Gaming Industry
2006. 05 National Pension Service, Lecture on Litigation
2007. 11 Korea Police Agency, Lecture on Specialized Investigation Proceedings into Industrial Technology Leakages (Trade Secret Protection)
2008. 01 Korea Police Agency, Lecture on Specialized Investigation Proceedings into Industrial Technology Leakages (Trade Secret Protection)

Ko, Suk Chan

Current Besitz Comprehensive Development Co., Ltd. Internal Director
Department of Urban Planning & Real Estate, Professor
DOT.N Co., Ltd. Advisor
Korea Institute for Advanced Technology, Committee Member
Education Yonsei University, Master of Arts in Public Administration
University of Texas at Austin, Master of Science in Community and Regional Planning
University of North Carolina at Chapel Hill, Ph. D. in City and Regional Planning
Previous 1993. 08 Dept. of Urban Administration, Assistant Professor
1998. 09 Dept. of Urban Planning & Real Estate, Professor
2001. 01 Chungnam Technopark, Professional Consultant
2003. 01 Committee Member of City Planning, Yongin City
2010. 03 Member of the Korean Regional Development Studies
2015. 07 Dean, School of Social Science, Dankook University
2015. 07 Chair of the Graduate School of Real Estate & Construction

More details are available upon request.