Hyundai Motor eyes building 110-story tower

Hyundai Automotive Group said yesterday it plans to build a 110-story "automobile theme tower" on Ttukseom in Seoul.
The carmaker is considering investing 1 trillion won ($1 billion) in the high-rise edifice on a plot of land owned by its affiliate Hyundai Steel Co. "We are discussing with the Seongdong Ward Office on setting up a building on idle land on Ttukseom," Hyundai Motor said in a statement.
"The district of Seongdong is in charge of the detailed plans and we still need to study the feasibility (of the project)."
The building, tentatively called the "Seoul Forest Waterfront Tower," is expected to house an automobile museum, a future car display hall, a convention center, a research and development center, a hotel and offices.
But Seoul City, which has the final say on all urban planning projects, appeared negative on the skyscraper project as the site is currently designated as a residential area. "We have not been asked to discuss the matter yet," said an official of the municipal government.
"However, it could be difficult because the location is in the middle of a public park and changing the plot's use for commercial purposes could generate controversy."