Hyundai Motor revises development plan for new headquarters in southern Seoul

SEOUL, Hyundai Motor Group has revised a construction plan for its envisioned new headquarters in southern Seoul, changing the initially 105-story single-building scheme into one involving smaller multiple buildings, according to group officials Wednesday. The group recently submitted a revised proposal for the development of the its Global Business Center (GBC) in Samseong-dong of Seoul's Gangnam district with the city government, offering to divide up the GBC into six building units instead of its initially proposed 105-story single building unit. According to Hyundai's proposal, two of the proposed GBC buildings are to be developed as 55-story units for use as a new integrated headquarters for Hyundai Motor Co. and sister unit Kia Corp. The four other buildings will house large-scale events and conference spaces, as well as cultural and convenience facilities. If the proposed change is implemented, it is expected that the maximum height of the GBC will avoid altitude restrictions for military operation s, potentially resolving likely issues with the defense ministry. A Hyundai official said the group plans to closely coordinate with the Seoul city government regarding necessary permits and approvals for the proposed changes. Source: Yonhap News Agency