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| An aerial view of the 101-story Landmark Tower and two 85-story residential towers POSCO E&C is to complete by 2019 at the Haeundae Tourist Resort LCT Development Project at Haeundae Beach, Busan. / Courtesy of POSCO E&C |
By Park Jin-hai
POSCO E&C began construction of the nation's tallest apartment complex, LCT, in Busan Thursday.
Some 300 guests, including company executives and politicians, participated in a ceremony to celebrate the start of construction.
The Haeundae Tourist Resort LCT Development Project will include construction of one 101-story building, the 411-meter tall Landmark Tower, and two 85-story residential towers (339 meters/333 meters) in the second largest city of Korea.
With a total investment of 1.5 trillion won, POSCO E&C will build the tower, the second-tallest landmark in Korea, and the tallest apartment complex here.
The construction is slated to be completed by November 2019.
"The LCT project will lift the city's competitiveness by a notch and become an icon of innovation, making Busan a truly global city," said company CEO Hwang Tae-hyun, during the groundbreaking ceremony in Haeundae, Busan.
"We pledge to successfully carry out the construction without a single misstep," he added, showing his determination for safe and on-time construction.
Situated just behind a stretch of white sand along Haeundae Beach, it is expected to serve as a one-stop lifestyle center with facilities for everything from leisure and recreation to shopping and business.
The massive construction project, which once hit financial hurdles and cancelation of a contract with a previous builder, was given to POSCO E&C.
As the builder of the 305-meter-tall Northeast Asia Trade Tower, one of the tallest buildings in Korea, the company has secured the know-how and experience to build skyscrapers. It also built the Songdo First World and Busan Centum Star Tower.
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