Hyundai unveils proposed landmark skyscrapers as Seoul holds out on approval

Industry

Published: 20 May. 2024, 17:47

Hyundai unveils proposed landmark skyscrapers as Seoul holds out on approval

A rendered image of Hyundai Motor Group's called Global Business Complex, with a total of six buildings: Two 55-story buildings at a height of 242 meters and four shorter buildings [HYUNDAI MOTOR GROUP]

The fate of Hyundai Motor Group's new skyscrapers in Gangnam District, southern Seoul, remains murky as the Seoul Metropolitan Government firmly maintains that more negotiations are needed to grant an approval for the construction.

The bitter tug-of-war comes as Hyundai on Monday unveiled three images of six buildings — two 55-story buildings at a height of 242 meters (794 feet) and four shorter buildings — that will serve as its new headquarters and also contain cultural and commercial amenities.

The Global Business Complex (GBC) will house international companies, consultants and startups to make an "innovate complex for mobility," in the automaker's words. A massive "forest" will be formed at the center of the complex containing hotels and observatories.

Hyundai expects to invest 19.5 trillion won ($14 billion) in the complex by 2030, which will create 56,000 new jobs.

"The GBC, with a futuristic design, is intended to be a representative landmark of Korea with an emphasis on sustainability and innovativeness," a Hyundai Motor Group spokesperson said, adding that it anticipates "timely approval from the Seoul Metropolitan Government for the successful push for the GBC project."

Hyundai said it expects to get the green light by next year.

The city, however, has stressed that the company's revised proposal must be "reviewed again from scratch" after the original plan to build a 105-story building was scrapped.

"If Hyundai wants to revise the construction plan, they must negotiate with us on the details of the new proposed blueprint," a Seoul Metropolitan Government official told the Korea JoongAng Daily. "We can't accept the revised proposal before we verify the feasibility."

Hyundai in February filed a request to the city to revise the original plan of erecting a single 105-story tower. The project has faced delays for years.

BY SARAH CHEA [chea.sarah@joongang.co.kr]