First glimpse of Hyundai Motor's new landmark complex in Gangnam

Hyundai Motor Group revealed Monday new concept images of its envisioned landmark named Global Business Complex with an emphasis on creating a foothold in global innovation for the future mobility industry and an eco-friendly site in Seoul.

The auto conglomerate said the change in the GBC’s name, which was originally known as the Global Business Center, highlights the new landmark’s inclusiveness for visitors.

Hyundai Motor plans to build two 55-story buildings at a height of 242 meters, which will be used as its new headquarters and main business offices, and four lower buildings that will serve various purposes for meetings, conventions, events and exhibitions over a wide range of sectors such as business and culture.

Noting that the newly released images feature a large green space filling up the GBC’s entire ground, Hyundai Motor underscored the new design concept’s theme of “Urban Forest Cityscape.”

According to the automaker, Foster + Partners led by renowned English architect Norman Foster has taken charge of the GBC’s design. Having won numerous awards such as the Pritzker Prize, regarded as the Nobel Prize in architecture, Foster is widely known for his iconic works in designing Bloomberg’s European headquarters in London and Apple Park in Cupertino, California.

The two 55-story buildings, expected to be constructed across the street from the Convention and Exhibition Center (COEX) in Gangnam-gu, will have an observatory and a high-end luxury hotel at the top.

“GBC will take the spotlight as the representative landmark of Korea with its futuristic design, sustainability, innovativeness and publicness,” said a Hyundai Motor official.

“We expect speedy approval from the Seoul Metropolitan Government so that the GBC project can be carried out successfully.”

Hyundai Motor purchased the Samseong-dong land formerly owned by Korea Electric Power Corp. at the price of 10.55 trillion won ($7.77 billion) in 2014, unveiling its plan to build a new 105-story building that would serve as its new headquarters and a grand landmark of the capital city. However, the project kept being pushed back over the past decade due to a series of hiccups including government screenings.

The company announced in March this year its revised plan to construct two 55-floor main buildings instead of one 105-story tower. The new projected images of the GBC were rolled out after the Seoul city government sent out its official notice asking Hyundai Motor to discuss the updated plan.