The affluent Seoul neighborhood that became a household name following Psy's breakout hit "Gangnam Style" will get some additional flair.

In late October, the Gangnam district municipal office posted a public notice was posted for bids to build a statue in the wealthy Seoul district.

According to local news reports, a bronze "Gangnam Style statue" is to be built and carries with it a 400 million won ($350,000 USD) budget.

"The absence of any significant tourist attraction related to ‘Gangnam Style’ in Korea is considered a serious problem," said one local government official, as reported by the K-Pop Herald. "The statue will be a great landmark reflecting the popularity of the once worldwide hit, Psy’s ‘Gangnam Style.'"

As Seoul prepares to honor Psy's remarkable global hit, the most-watched video in the history of YouTube with nearly 2.5 billion views, the singer's follow up album preparations are well under way.

Psy's record label, YG Entertainment, shared a teaser poster for Psy's return on the agency's official blog on Tuesday, Nov. 3. This will be the singer's seventh studio album, and his first full release since the 2012 album Psy 6 that launched him to international fame.