The Seoul Olympic Stadium in Jamsil, southern Seoul, built for the 1988 Summer Olympics and a go-to concert venue for big-name singers, will turn into a multifunctional site that could house various sports and cultural events.

The Seoul Metropolitan Government said that the sports complex will undergo three years of renovation starting Tuesday, and that the new space will welcome visitors in December 2026.

The estimated budget for the renovation project is 360 billion won ($270 million).

Under the plan, the city government will replace some 30,000 seats and the athletic running track with new ones and install 358 seats for disabled people. An LED display screen, previously located on the southern side of the stadium, will be relocated to the northern side. VIP rooms will also go through a transformation to offer better viewing experiences, and specialized sports facilities and dorms will be built for athletes.

Aiming to garner more foot traffic, the city government will also give a face-lift to the outer space of the venue, turning it into an urban park consisting of sports and cultural facilities for the public to enjoy.