[Exclusive] Hyundai Motor Withdraws GBC 'Within 55 Floors' Plan... Proposes New Design Within the Year

Changed from one 105-story building to two 55-story buildings
"Following Seoul city procedures and effectively acknowledging the need for renegotiation"

Hyundai Motor Group has confirmed that it has withdrawn its design change plan to reduce the Global Business Complex (GBC) in Samseong-dong, Gangnam-gu, Seoul, from two 55-story buildings. Hyundai Motor plans to present a new GBC design change plan within the year.

According to Seoul City on the 8th, Hyundai Motor held a working-level consultation with the city on the 4th and decided to withdraw the GBC design change plan the following day, on the 5th. Hyundai Motor had previously submitted a design change plan to the city in February, changing from the original single 105-story building. A city official stated, “Hyundai Motor withdrew the proposal it had suggested to the city to enhance public interest and improve design,” adding, “They plan to propose a new design change plan within the year.”

The city regards Hyundai Motor’s decision as a “significant progress.” Seoul City has maintained that Hyundai Motor’s “55-story construction plan” constitutes a “substantial change” from the preliminary negotiation results in 2016 and therefore requires renegotiation, but Hyundai Motor has opposed this, claiming it is not subject to renegotiation. A city official said, “Hyundai Motor has followed the procedures as the city had indicated and effectively acknowledged that it is subject to renegotiation.”

[Image source=Yonhap News]