Hyundai Motor Group puts 2~3 buildings on the 70th floor and 3 buildings on the 50th floor
(Seoul = Yonhap News) Reporter Hana Jang = Hyundai Motor Group was in deep trouble over the construction of the Samsung-dong Global Business Center (GBC), the long-awaited project of Honorary Chairman Chung Mong-koo.
Amid growing uncertainty in the future due to the new coronavirus infection (Corona 19) and the reorganization of the automobile industry, it is an atmosphere of weighing the practicality considering the symbol of’dream of becoming a top-notch company’ and cost reduction.
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According to the industry and the Seoul Metropolitan Government on the 16th, Hyundai Motor Group is reviewing the previous design plan to build one 105-story tower building, as well as a plan to change the design to two or three buildings with 70 floors and three buildings with 50 floors. Became known.
Hyundai Motor Company[005380] It was confirmed that the side replied to the inquiries from the Seoul City, which has the right to license, “We are considering design changes internally, but it has not been confirmed yet,” and “I will inform you when it is decided soon.”
The industry believes that as Chairman Eui-sun Eui-seon puts more emphasis on practicality, he put more weight on changing the design in the direction of lowering the floor height.
When Hyundai Motors officially receives a design change, the city of Seoul plans to consider whether it is a change in the city management plan or the building plan. If changes are made to the city management plan, the agenda must be presented to the city planning committee composed of private experts and deliberated.
A Seoul city official said, “Hyundai Motor will change the building plan to build the new construction as soon as possible, but it is expected that the floor area ratio will be adjusted,” he said. “If the change in the number of floors does not significantly affect the surrounding environment, it will be accepted.”
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The basic and detailed design of GBC is the former KEPCO[015760] The plan was to build a tower with 105 floors (569m in height) on the site (74,148m2), 1 building for accommodation and business facilities, and 5 facilities including exhibitions, conventions, and performance halls. In the first place, the 115-story building was revised and lowered to 105 stories in 2015.
If completed as planned, GBC will surpass the 2nd Lotte World (555m) and become the tallest building in Korea.
Honorary Chairman Chung Mong-koo, after visiting the GBC site in July 2016, expressed affection as “GBC is a symbol of the new 100 years of Hyundai Motor Group and the center of realizing the dream of becoming a top-notch company.”
Earlier, Honorary Chairman Chung bought the former KEPCO site in Samseong-dong in 2014 for 10.55 trillion won, more than three times the appraised value at the time.
Hyundai Motor and Kia Motors, which formed a consortium due to controversy over the purchase of KEPCO site at the time[000270], Hyundai Mobis[012330]Stock prices have plunged. Hyundai Motor’s stock price, which broke in the 200,000 won range, went downhill after that, but recently recovered to the level before the site purchase due to the rise of the rumor of an autonomous electric vehicle cooperation with Apple.
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The construction project for GBC was delayed due to obstacles such as controversy to obstruct military operations, and it was only in May of last year, after six years of land purchase, that the Seoul Metropolitan Government received permission to start construction. The Seoul Metropolitan Government and Hyundai Motor Group also signed an agreement to implement public contributions worth KRW 1.74 trillion.
The Hyundai Motor Group has decided to attract external investors and develop jointly in order to relieve the investment cost burden, which is estimated at KRW 3.7 trillion. It is a promising plan to establish a special purpose corporation (SPC) with external investors.
The industry believes that Hyundai Motor Group intends to benchmark the Hudson Yard development project in New York, which is considered the largest development project in the United States. The 28 trillion won Hudson Yard Development Project is a large-scale project developed along the banks of the Hudson River. Global real estate investments and financial companies are taking part in the investment.
If Hyundai Motor Group abandons the title of the tallest building in Korea and the symbolism of a landmark and changes its design to lower the floor height of GBC, it can save construction costs and shorten the construction period. It seems that the cost of purchasing military radar, which was decided to be paid to the air force, could also be saved.
Based on this, it is expected that it will be able to invest in future business and accelerate the improvement of its constitution as a future mobility solution company.
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Hyundai Motor Group said it plans to invest a total of 100 trillion won or more over the next five years for future growth. It is expanding investments in future businesses such as robotics, autonomous driving, and urban aeronautical mobility (UAM), such as to acquire robotic company Boston Dynamics.
However, as residents of Gangnam-gu and Gangnam-gu, Seoul, have already protested when the possibility of a change in the GBC design plan is raised, conflict is likely to be inevitable when changing the design.
“The establishment of GBC is a future investment project that leads the national economy and is a symbol of the next 100 years.” As it is a business, Hyundai Motor Company strongly urged us to proceed with the new GBC project according to the original plan.”
Residents of the Samseong-dong area, merchants, and other residents are also reported to have moved to sign opposition to Hyundai Motor’s design change.
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2021/01/16 07:01 sent