In his speech during the group's kick-off meeting for the New Year at its head office in Yangjae-dong, southern Seoul, the group's chairman Chung Mong-koo said a 105-story building will be built on the site in Samseong-dong, southern Seoul. He did not elaborate.
The skyscraper, namely "Global Business Center (GBR)," will incorporate affiliates of the automotive group, an auto theme park, a hotel, a convention center and a facility where visitors can experience "hallyu," the wave of Korean pop culture, Hyundai officials said.
Hyundai E&C, the group's construction arm, launched a task force to carry out the construction project, and began receiving blueprints from overseas architecture companies, they said.
The group, the world's fifth largest automaker, signed a contract to buy KEPCO's main office property for 10.55 trillion won in September last year.
KEPCO sold the lucrative property to reduce its debts in compliance with the government's plan to normalize debt-ridden public firms. It relocated its main office to Naju in the southwestern part of the country in November last year.
reporter
Park Sae-jin
swatchsjp@ajunews.com
