Seoul announces nearly $700 million plan to build ginormous two-wheel Ferris wheel

Social Affairs

Published: 04 Dec. 2023, 16:03 Updated: 04 Dec. 2023, 16:05

Seoul announces nearly $700 million plan to build ginormous two-wheel Ferris wheel

Rendered image of Seoul Twin Eye [SEOUL METROPOLITAN GOVERNMENT]

Seoul Metropolitan Government announced on Sunday its 910 billion won ($697 million) plan to erect the world’s first gigantic, two-wheel Ferris wheel as a new landmark in Sangam, western Seoul.

The “Seoul Twin Eye,” a Ferris wheel with a 180-meter-long diameter, will have two wheels crossing each other. Rendered images show that the ride will resemble the letter “X” from the side and the letter “O” from the front.

“The cross-wheel structure will provide physical stability against winds and earthquakes while increasing its seating capacity,” the city said.

According to the current design, the Seoul Twin Eye can carry 1,440 passengers in 64 capsules per single revolution.

The London Eye’s designer, engineering-consulting firm ARUP, participated in the Seoul Twin Eye's design. SK Ecoplant will build the ride.

Rendered image of Seoul Twin Eye [SEOUL METROPOLITAN GOVERNMENT]

Seoul Mayor Oh Se-hoon revealed in March the city's plan to build a gigantic single-wheel Ferris wheel in Sangam, western Seoul, as part of the Great Sunset Han River initiative, tentatively naming it the “Seoul Ring.”

In September, the Ministry of Economy and Finance approved the private-public partnership plan after reviewing its viability.

A consortium led by the Seoul Housing & Communities Corporation and real estate developers submitted their proposal to the city in November.

After reviewing the investors ' accessibility, business values, and costs, the consortium proposed to change the host site to Peace Park — one of the five parks of the World Cup Park.

The city initially had considered Haneul Park, a former landfill, a potential site for the landmark.

Rendered image of the building under the Seoul Twin Eye [YONHAP]

The Twin Eye will be built on a 40-meter-tall building, serving as a venue for exhibitions and cultural events.

The structure will include a 1.4 million square feet performance hall and other commercial facilities and restaurants.

Other attractions like zip lines and monorails will be added.

Seoul Public Investment Management Service will review the business plan and refer the proposal to the Korea Development Institute (KDI)’s Public and Private Infrastructure Investment Management Center for a more detailed assessment.

Once the KDI approves, the city could release a third-party offering to decide on a preferred bidder other than the consortium with SH. The offering is intended to build better infrastructure through open competition.

“[The city] will keep the public nature of the project in mind as well as its unparalleled design to make the Seoul Twin Eye a city landmark and tourist attraction,” said Hong Sun-ki, an official from the city government's Future Urban Spaces Planning Bureau.