Massive Development Project Leader POSCO E&C to Construct Korea’s Tallest Apartment Complex LCT in Haeundae

- The vital infrastructure of the Special Tourist Zone in Haeundae, ranging from leisure and recreation to shopping and business

SEOUL, South Korea, May 20, 2015 / PRNewswire — POSCO E&C (CEO Hwang Tae Hyun) has been selected as the exclusive construction company for the ‘Haeundae Tourist Resort LCT Development Project’ to take place in Busan, the second capital of Korea and a booming city of tourism and trade.

Haeundae%20Tourist%20Resort Massive Development Project Leader POSCO E&C to Construct Koreas Tallest Apartment Complex LCT in Haeundae

Haeundae Tourist Resort LCT’s aerial view.

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POSCO E&C that raised the tallest existing building in Korea, the 305m tall NEATT(Northeast Asia Trade Tower), will construct a 411m tall LCT in HaeunDae, Busan.

The ‘Haeundae Tourist Resort LCT’, which will be heralded as a landmark that represents Busan, is a large-scale development project possessing a total project cost of 2.7 trillion KRW. The site will feature a one 101-story building as the Landmark Tower (411m) and two 85-story residential towers (339m/333m). The Landmark Tower will consist of 561 rooms encompassing a residence hotel and 260 rooms for a luxury 6-star tourist hotel, in addition to the residential towers which will accommodate 882 households.

The area of land where the buildings will be built amounts to 6.7 times the size of a soccer field, situated just behind a pristine stretch of white sand along Haeundae Beach. This landmark will be constructed as complex facilities geared toward operating as a one-stop lifestyle solution, ranging from leisure and recreation to shopping and business.

POSCO E&C was selected as the constructor for this project due to its lofty recognition for having the optimum balance of experience and knowhow for constructing skyscrapers and having a rich history for participating in massive development projects, in addition to its esteemed brand value and top-level credit rating among Korean construction companies.

POSCO E&C is spearheading International Business District development project on 5.71 million square meters of land in Songdo, Incheon.

POSCO E&C is also enthusiastically pursuing large-scale development projects overseas. The most well-known of these projects include the ‘North An Khanh New City’, which is the first self-contained new city in Vietnam, and the ‘Hanoi City Master Plan Project’ that boasts a robust size of 3300㎢, which amounts to over 5 times the area of Seoul.