[Dispatch=Reporter Kim Ji-ho] JYP Entertainment has withdrawn its plan to build a new headquarters in Godeok. The project ultimately failed to reach a compromise after the intended use of the park site in front of the new building was changed.

On the 8th, JYP stated, "We have held multiple consultations with SH Corporation and the Gangdong-gu Office and made efforts from various angles to continue the project, but have ultimately decided to withdraw the Godeok new headquarters construction project."

In August, SH conveyed to JYP that "there are no procedural issues with the change in land use in front of the new headquarters site, and restoration to a park is also not possible." After review, JYP determined that it would be difficult to proceed further with the project.

JYP plans to purchase a building near its current headquarters in Seongnae-dong going forward. The company added, "We will work closely with the relevant local government with the Seongnae-dong headquarters as the core, and will continue sustainable growth."

JYP purchased approximately 10,675 square meters of land in the Godeok Gangil District, Gangdong-gu, Seoul from SH for approximately 75.5 billion won in October 2023. The new headquarters was planned to be built to a size of 5 basement floors and 17 above-ground floors, and received building permits in April.

A neighborhood park was originally planned to be constructed on the south side of the new headquarters. However, SH changed the site to land where buildings up to 19 stories could be built. JYP is known to have become aware of the use change in April.

If an 18-19 story building is constructed directly in front of the new headquarters, changes to the existing design may be inevitable. There was also potential for the interior of the JYP building to be visible from adjacent buildings, raising concerns about security and protection of artist privacy.

Yu Hyun-Jun, a professor at Hongik University who was in charge of designing the JYP Godeok new headquarters, recently voiced criticism through social media. "JYP purchased the land and proceeded with the project under the assumption that there would be a park," he pointed out, noting that "the site in front was changed to commercial use at a stage where permits were all completed and construction was about to begin."

<Full statement from JYP below>

JYP Entertainment (hereinafter "the company") held multiple consultations with SH Corporation and Gangdong-gu Office from April 2026, when it first became aware of the change in land use in front of the Godeok new headquarters site, and made efforts from various angles to continue the project. However, we have ultimately decided to withdraw the Godeok new headquarters construction project.

On August 31, 2026, the company received an official response from SH Corporation stating that "there are no procedural issues with the change in land use in front of the new headquarters site, and restoration to a park is also not possible." As the key environmental factors for the project promotion under the company's standards have changed, we have examined many related matters from various angles, including the circumstances of leased buildings in addition to our current headquarters, and have reached a final conclusion that it is difficult to proceed further with the project.

Accordingly, the company has established a direction to acquire a building near the Seongnae-dong headquarters at its current location to secure and reinforce a stable work environment for our members. As this is a decision made after lengthy review and careful consultation, we appreciate your broad understanding and consideration.

Since relocating to Gangdong-gu in June 2018, the company has continued to grow. We will work closely with the relevant local government with the Seongnae-dong headquarters as the core, and will continue to pursue sustainable growth.

<Photo source: Professor Yu Hyun-Jun's website>