S. Korea eyes chip alliance with Netherlands
Suneung without 'killer questions' still not easy, results show
US defense policy bill calls for maintaining 28,500 US troops in Korea
Teens' excessive smartphone use linked to mental health risk: study
SK carries out complete reshuffle of top brass
S. Korea, US, Japan to discuss regional security issues: White House
Ruling party reform committee disbands early, says job half done
Ex-justice minister's daughter attends forgery trial in college admissions scandal
Auditor says Moon govt distorted 2020 death of fisheries official
Moon officials tried to cover up North Korea’s murder of South Korean: state inspectors
Hyundai Mobis to invest W643b in Hyundai Motor’s new HQBy Ahn Sung-mi
Published : July 28, 2016 - 15:40
Hyundai Motor Group is planning to erect a 105-story skyscraper in Samseong-dong area of Seoul, on a plot purchased from state-run Korea Electric Power Corp. for 10.55 trillion won in 2014.
The amount Hyundai Mobis will invest accounts for 2.5 percent of its equity capital and will give it a 25 percent stake in the construction project being jointly pursued by Hyundai Group automakers Hyundai Motor and Kia Motors. The two carmakers are to invest 1.41 trillion won and 514 billion won, respectively. Hyundai Motor will hold a 55 percent stake in the construction consortium, while Kia gets 20 percent. The proportions, however, and the amount may change once construction starts.
The multibillion dollar landmark edifice will comprise a main tower and five other buildings that will house exhibition centers, concert halls and an automobile theme park. Construction is set to begin in early 2017, aiming for completion by 2021.
By Ahn Sung-mi (email@example.com)
4 contentious bills scrapped in revote after Yoon's veto
S. Korea logs current account surplus for 6th month in October
Ex-Democratic Party chair denies bribery, illegal campaign allegations