Yeouido

Yeouido (Yoi Island or Yeoui Island) is a large island in the Han River in Seoul, South Korea. It is Seoul's main business and investment banking district. Its 8.4 square kilometers are home to some 30,988 people. The island is located in the Yeongdeungpo-gu district of Seoul, and largely corresponds to the precinct of Yeouido-dong. The island contains the National Assembly Building, where the National Assembly of South Korea meets, Korea Financial Investment Association, the large Yoido Full Gospel Church, the 63 Building, and the headquarters of LG, KBS, and the Korea Exchange Center.

History

Being a vacant spot convenient to the national capital of Joseon, Yeouido was used as a national pasture for sheep and goats, according to a 16th-century geographical record. When the Han River flooded, only a small patch of high ground remained above river level: the name of the island means "You can have it (Useless)". Yeouido remained for the most part an uninhabited sandbar prior to the construction of Seoul's first airport in April 1924. The airport served both international, domestic, and military flights, and was also the site of a flight school. At that time the island was part of Goyang. The six-lane bridge connecting it to the mainland of Yeongdeungpo was constructed in 1970 as part of Han River development project led by President Park Jung-Hee, after which time development took place rapidly. Yeouido-dong was formed as a separate entity in 1971. Yeouido is also called Korea's Wall Street and houses many broadcasting stations, including KBS and MBC.