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HMC/KMC/HM – Global Business Center – South Korea - Project Profile

HMC/KMC/HM – Global Business Center – South Korea - Project Profile

Synopsis

"HMC/KMC/HM – Global Business Center – South Korea - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "HMC/KMC/HM – Global Business Center – South Korea - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary

Hyundai Motor Company (HMC), Kia Motors Corporation (KMC) and Hyundai Mobis Co Ltd (HM) are planning to build a new headquarters complex in Gangnam, Seoul, South Korea.

The project involves the construction of a new headquarters of 105 stories of 569m tall on 560,443m2 of land. It includes the construction of 35 stories of hotel on 155,082m2 of land, nine story of concert hall with 2,000 seats on 67,768m2 of land, six story convention center on 68,895m2 of land, four story exhibition hall on 20,006m2 of land, parking spaces and the installation of elevators.

On September 17, 2014, HMC purchased the project site from Korea Electric Power Corp for US$10 billion.

In January 2016, Skidmore Owings & Merrill LLP (SOM) and NBBJ were appointed as architects, while SOM is set to design upper floors of GBC and NBBJ will take charge of the design of GBC's lower levels, hotels and business buildings and the design work will be comprehensively supervised by SAC International Ltd.

In March 2016, the massive building plan for the project was finally agreed between the Seoul metropolitan government and Hyundai Motor after six months of preliminary negotiations which include the review of construction proposal and the impact that the building plan will have on traffic and the surrounding environment.

Hyundai Motor group will pay US$1420 million in public contribution to the city government for the business group to change the use of the land site from "residential" to "commercial".

Hyundai Engineering & Construction has been appointed as the construction contractor.

In February 2017, HMC submitted assessment for public review and environmental impact.

HMC is awaiting for approvals and the construction works are slated to be complete by 2021.

Scope

The Global Business Center project involves the construction of a new headquarters 105 stories of 569m tall on 560,443m2 of land in South Korea.

The US$19,172 million project includes the following:

1. Construction of 35 stories of hotel on 155,082m2 of land

2. Construction of a nine story of concert hall with 2,000 seats on 67,768m2 of land

3. Construction of a six story convention center on 68,895m2 of land

4. Construction of a four story exhibition hall on 20,006m2 of land

5. Construction of parking facilities

6. Construction of related facilities

7. Installation of elevators

Reasons To Buy

  • Gain insight into the project.
  • Monitor the latest project developments.
  • Identify key project contacts.


1.Key Statistics
2.Key Dates
3.Sector
4.Operating metrics
5.Scope
6.Description
7.Latest update
8.Background
9.Key Contacts
10.General News, Project News
11.Appendix

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