Altitude Problem

By Jane Han

Staff Reporter

The 63 Building in Yeouido, overlooking the Han River in southern Seoul, for decades has stood as the country's tallest structure. One of the city's main sites of attractions, the gold-tinted skyscraper holds symbolic status, but it won't be long till the landmark tower is pushed to give up its throne.

In just a few short years, more than half a dozen super tall buildings will shoot up beyond Seoul's current skyline, slowly chipping away the iconic status of the 24-year-old attraction.

Most of the new constructions ― designed to be well above 100 stories ― are springing up along the Han River with completions targeted within the next two to seven years.

Some of the fiercest projects include the 133-story tower in Sangam Digital Media City (DMC), the 152-story Dream Tower in Yongsan and Lotte's 112-story skyscraper in Jamsil.

Although the ongoing credit crunch has slowed down many of the lucrative undertakings, no major changes are expected to be made to the original blueprints and scheduled completion dates, according to developers and industry insiders.

``The tough economy subsequently tightens finance conditions, but most developers are likely to deliver high-quality buildings one by one in the coming years,'' said Angela Kim, a value and strategy manager of Savills Korea, a local affiliate of the global real estate service provider.