Hyundai Motor unveils revised design of new headquarters

An illustration of Hyundai Motor Group's Global Business Complex planned for southern Seoul / Courtesy of Hyundai Motor Group

Hyundai Motor Group unveiled Monday a revised design for its much-touted new headquarters in Seoul, in an apparent display of willingness to build two 55-story buildings despite opposition from the city government.

The carmaker was initially scheduled to establish a single 105-story building for the complex but decided on the redesign by dividing it into six separate buildings, including two skyscrapers and four smaller buildings.

The group also changed the name of the facility to the Global Business Complex (GBC) from the earlier name of Global Business Center. It will be built in the affluent neighborhood of Samseong-dong in southern Seoul.

But the company might face hurdles in pushing ahead with the revised design, as the Seoul Metropolitan Government is trying to halt the plan. The city government wants Hyundai Motor Group to scrap the design plan and proceed with the earlier one.

"The GBC will become a new landmark of Korea, featuring future-oriented design with innovation," an official from the group said. "We expect the city government to grant a timely approval for our GBC project."

According to Hyundai Motor Group, the project will generate 265 trillion won ($195.35 billion) worth of production and create jobs for 1.22 million people. An estimated increase of tax revenues will also amount to 1.5 trillion won from the GBC project, according to the company.

The city government maintains its earlier position, urging the group to resume talks for the revised design plan. Early this month, the government already expressed opposition to the firm's plan, saying that the carmaker should return to the dialogue table for further discussions on the updated design plan.

According to the group, the GBC will become a high-tech industrial complex converged with future mobility technologies such as urban air mobility and driverless vehicles.

The company plans to turn the facility into a future mobility cluster by teaming up with global firms and startups. It will also serve as a new test bed for the group to launch future businesses and seek fresh revenue streams, according to Hyundai Motor Group.

An open urban forest will be built at the center of the complex as part of the group's efforts to elevate its role for the public's benefit by allowing anyone to visit.

Under the GBC project, Hyundai Motor Group will invest a total of 19.5 trillion won by 2030. The company will also offer some 2.1 trillion won as a public contribution regarding the project.