The foreign minister's official residence is being considered as a new venue for incoming President Yoon Suk-yeol's residence, officials said Wednesday.

The official residence of the Army chief of staff had originally been considered a top candidate for Yoon's residence following his plan to relocate the presidential office Cheong Wa Dae to the defense ministry compound in Yongsan, central Seoul.

But officials said the Army chief's home is too outdated and run-down for a presidential residence.

"Repair costs for the official residence of the Army chief of staff are larger than expected," an official close to Yoon's office said. "We are reviewing various options."

The Army chief's residence, which was built in the mid-1970s, reportedly requires extensive remodeling, virtually close to reconstruction, as the building itself is too old, even having leaks when it rains.

Meanwhile, Yoon is likely to open the Cheong Wa Dae compound to the public right after his inauguration ceremony on May 10, according to the official.

Yoon has pledged to fully open Cheong Wa Dae to the public for good on the day of his inauguration. (Yonhap)