Samsung-dong Hyundai Motor GBC Excavation Work Postponed to Second Half of Next Year

Aerial view of Hyundai Motor Company's new headquarters Global Business Center (GBC) /

[Asia Economy Reporter Kim Jin-ho] Hyundai Motor Group's groundbreaking construction for the Global Business Center (GBC) in Samseong-dong, Gangnam-gu, Seoul, has been postponed to the second half of next year.

According to Seoul city officials on the 7th, the groundbreaking was originally scheduled to begin next month, but Hyundai Motor submitted an environmental preservation plan requesting a delay until July next year, resulting in the postponement.

Groundbreaking is a process carried out after the building height and other details are finalized. Therefore, there is speculation that Hyundai Motor's previously considered plan to reduce the number of floors might be moving forward.

The GBC was approved to be constructed as a single building with 105 floors. Hyundai Motor Group is reportedly reviewing design changes to lower the maximum height to 70 or 50 floors and increase the number of buildings.