Hyundai Motor Group and the Korea Electric Power Corporation will conclude a contract today for a sizeable plot of land in the Gangnam District that formerly belonged to the energy company.
With an offer of 10.5 trillion won, the company beat Samsung Electronics to buy the over 79,000 square meter site last week, which lies adjacent to the COEX convention center.
Korea's largest automaker has already made a 10 percent contract deposit, with the remaining payment to be made by next September.
Hyundai plans to build an integrated office, a car theme park, a business center and a convention center on the site. ■
Please send comments to tbsefmnews@gmail.com / copyright © tbs. Unauthorized redistribution prohibited.
