The Seoul Metropolitan Government has launched an international ideas competition for the urban regeneration of Jamsil Sports Complex in South Korean capital.

The complex, originally designed by Korean architect Kim Swoo Geun and completed in 1984, was host of the 1986 Asian Games as well as the 1988 Summer Olympic Games.

In recent years, the facilities have deteriorated and are currently used as a carpark. The complex is bounded by two rivers, the Hangang and the Tancheon, but despite this, public access to the waterfront to limited.

This has prompted the international ideas competition, which asks for creative, innovative and outstanding ideas to transform the area into an international attraction.

The competition is open to individuals and corporations in urban planning, urban design, architecture, landscape architecture, real estate development and management, tourism and culture.

Entries will assessed by a jury which includes academics and practitioners from South Korea, USA, Spain and Germany.

The competition will award eight prizes: three first prizes to the value of $100 million Korean Won (AU$112,214) each and five second prizes to the value of $30 million Korean Won (AU$33,680) each.

The competition could lead to the redevelopment of Main Stadium at the Jamsil Sports Complex. If so, the eight winners from the ideas competition could potentially be invited to participate in an additional design competition for the stadium.

Registration closes 5pm (4pm AEST), 2 June, 2015. Submissions close 5pm (4pm AEST), 12 August, 2015. Winners will be announced 4 September 2015. For registration and submission requirements, click here.