Aug 21, 2008

5 Big Architects Compete for $28 Billion Design


Five major architects have been shortlisted to redesign the business hub of South Korea’s capital city. Asymptote (with Hargreaves Associates), Foster + Partners, Jerde Partnership, Skidmore Owings and Merrill and Studio Daniel Libeskind have been given US$1m to submit designs to the Yongsan Development Co. for the US$27bn rejuvenation of the Yongsan international business district.



Samsung C&T corporation are a major investor in the development - their Business Development Team Vice President, Gyeongtaek Lee, has no qualms over the viability of the project. He said: “Such an achievement is attributable to the fact that this is a low risk project with both financial and strategic investors balancing the consortium.” He added, “We plan to create a global business town starting with a spectacular landmark skyscraper and 12 commercial buildings.”

The 12 commercial buildings are expected to rise between 20-70 floors and a further 7 residential/commercial buildings will rise between 20-50 stories. The proposed date of construction is 2011.


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