Hanjin opens LA's tallest tower

• Published Jun 25, 2017 4:39 PM KST
• Updated Jun 25, 2017 4:39 PM KST

By Jung Min-ho

Hanjin Group has changed the skyline of Los Angeles with the Wilshire Grand Center ― the Californian city’s tallest new skyscraper.

Over the past eight years, the company has invested more than 1 billion dollars (1.1 trillion won) to turn a 15-story hotel building into the 1,099-foot-tall (73-story) multiplex tower.

During its opening ceremony, Friday (local time), Hanjin Group Chairman Cho Yang-ho could not contain his joy over the accomplishment.

“With the success of the project, my dreams have come true and I have fulfilled my promise with the city of Los Angeles,” said Cho, who lived there for a few years as a graduate student at the University of Southern California.

“The Wilshire Grand Center will set a good investment example for the United States, which U.S. President Donald Trump has emphasized.”

The beauty of Yosemite Valley inspired the design of the building. It will feature restaurants, offices, retail shops, and a swanky hotel.

The hotel, which is located on its upper floors, has about 900 rooms where guests can enjoy breathtaking views of the city through big windows.

Hanjin also hopes the Wilshire Grand Center will stand as pride for Korean immigrants, who have now become an essential part of the city.

The building is designed with the seismic activity of the area in mind. According to Hanjin, it must be able to withstand earthquakes with a magnitude of up to 8 on the Richter scale.

The building is also equipped with LED lights, which will illuminate the city with neon colors after sunset.

In response to the positive economic effect the building has brought to Los Angeles, the city government promised to exempt Hanjin from the Transient Occupancy Tax for the next 25 years. With the incentive, the company estimates it will save about 60 million dollars.

Hanjin Group is the owner of national flag carrier Korean Air.