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Seoul and Hyundai Seal GBC Deal for Three 49-Story Towers by 2031

A city–corporate pact sets public funding for surrounding infrastructure to clear the way for planning reviews in the first half of the year.

Overview

  • Seoul confirmed a finalized revision for Hyundai Motor Group’s Global Business Complex featuring three 242-meter towers with 49 floors above ground.
  • Hyundai will invest an estimated 5.24 trillion won in the project, with the city and company agreeing on a public contribution totaling about 1.98 trillion won.
  • The complex will add a hotel, exhibition and performance venues, a 1,800-seat hall, a 15,000-square-meter mid-roof garden, and a 14,000-square-meter ginkgo park.
  • Pedestrian flow will be maintained by elevating the central tower to create three passages between 6 and 12 meters wide connecting nearby hubs.
  • After scrapping a 105-story plan due to military radar limits, Hyundai accepted responsibility for radar relocation costs estimated around 400 billion won, while the city projects major economic gains through 2051.