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| ▲ This graphic provided by the Seoul city government shows Hyundai Motor Group's envisioned Global Business Complex project. (PHOTO NOT FOR SALE) (Yonhap) |
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| ▲ This graphic provided by the Seoul city government shows Hyundai Motor Group's envisioned Global Business Complex project. (PHOTO NOT FOR SALE) (Yonhap) |
Hyundai Motor Group-new headquarters
Hyundai Motor Group to build 3 skyscrapers for new headquarters in Seoul by 2031
SEOUL, Jan. 6 (Yonhap) -- Hyundai Motor Group aims to build three 49-story skyscrapers in southern Seoul by 2031 as its new headquarters development plan, the Seoul city government said Tuesday.
The city government said it completed negotiations with the conglomerate over its Global Business Complex (GBC) project last Tuesday after the company revised its initial plan to build a single 105-story building last year.
The super-skyscraper project in Seoul's southern Gangnam ward had to be revised as it faced issues such as altitude restrictions for military operations.
The city and the conglomerate had since been negotiating over the revised plan, such as the project's infrastructure and public contribution.
Under the negotiations, the complex -- located opposite to the COEX exhibition center -- will be built as three buildings up to 242 meters in height, with 49 ground floors and eight underground floors.
The complex will house a hotel and various cultural facilities, including exhibition and concert halls. It will also feature a 15,000-square-meter mid-roof garden at about 40 meters above ground.
The complex's 1,800-seat concert hall will be designed to feature musicals, operas and other performances.
The project also seeks to build a 14,000-square-meter ginkgo tree park that connects the complex with the nearby 14-lane Yeongdong-daero.
The city and Hyundai Motor Group agreed to increase the value of the project's public contribution to 1.98 trillion won (US$1.37 billion) from an earlier amount of 1.74 trillion won.
The project's construction is estimated to cost 5.24 trillion won.
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