SEOUL, KOREA - Hyundai Motor Group won the bid to buy a 79,300-square-meter property of the state-run Korea Electric Power Corp.and will likely to open a new era in Samseong-dong in Seoulby 2020.Hyundai Motor Group plans to build a new headquarters building at the KEPCO site, aimed at establishing a Korean version of Autostadt (Volkswagen’sauto theme park in Wolfsburg, Germany) there.
Hyundai Motor Group Chairman Chung Mong-Koo’s ambition to build a huge main office building that matches well with the company’s status as the world’s fifth largest automaker is finally realized.
The decision-making process, however, was not easy. Since 2006, the group has pursued for establishment of a 110-story building on Ttukseom Island on the Han River. The group withdrew the plan due to a variety of regulations.
The group shifted direction towards acquiring the KEPSO site, the last best land in the southern region of Seoul.
At present, the group has 30 subsidiaries in Seoul, with the number of employees estimated at 18,000. The size of its current headquarters building in Yangje-dong in Seoul can accommodate only five subsidiaries and 5,000 employees.
