Aju Business Daily

Hyundai Motor Group Tuesday unveiled plans to build a 115-story skyscraper on the site of Korea Electric Power Corp. (KEPCO) headquarters it purchased last year.

The skyscraper will incorporate affiliates of the Hyundai Motor-Kia Motors group, according to the envisioned plan submitted to the Seoul metropolitan government earlier this month for bilateral talks.

If the plan is approved, a 62-story building will also be built for use as an exhibition and convention center, a hotel and others.

Hyundai E&C, the group's construction arm, will carry out the construction project for the "Global Business Center" on the 79,345-square-meter site in southern Seoul, company officials said. Construction, if things go well, will begin in late 2016 or early 2017, they said. 

The group, the world's fifth largest automaker, bought the site that previously housed KEPCO's main office for 10.55 trillion won in September 2014. The state-run KEPCO relocated its main office to Naju in the southwestern part of the country in late 2014.