May 15, 2025
SEOUL – The Chinese government owns 11 plots of land in Itaewon-dong, Yongsan-gu, central Seoul, which sit between 1 and 1.5 kilometers from the proposed future site of the US Embassy and South Korea’s current presidential office, according to a local media report Wednesday.
Asia Business Daily reported that the People’s Republic of China acquired ownership of the land spanning 4,100 square meters in December 2018 for about 29.9 billion won ($21.9 million). It marked the first time that a foreign government’s direct land purchase in the Yongsan area was disclosed to the public.
The properties are at the southern foot of Namsan, just before entering Namsan Tunnels No. 2 and 3 from Noksapyeong-daero in Itaewon-dong. The site previously operated as an outdoor golf driving range for more than 40 years but shut down around the time the land changed hands. Several buildings on the site remain unoccupied.
The Itaewon-dong location sits approximately 1 to 1.5 kilometers from the current presidential office in Samgakji, current presidential residence in Hannam-dong, and the former Camp Coiner site — the designated location for the new US Embassy — all in the district of Yongsan-gu.
The land was purchased after the US Embassy’s relocation plan was announced in 2005, but before former President Yoon Suk Yeol moved the presidential office to the area in 2022.
Of the 11 total lots that make up the area owned by the Chinese government, two were initially owned by the South Korean government. The state sold them to private individuals who later sold them to the Chinese government. The land was acquired by China about 18 months after the initial government sale.
In 2023, Chinese nationals accounted for 64.9 percent of all real estate transactions by foreign nationals in South Korea. As of 2022, the total combined size of the land owned by Chinese nationals was estimated to be more than seven times the size of Yeouido.
While foreign governments are allowed to purchase land in South Korea, South Korean individuals and entities are prohibited from owning land in China.