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[Alpha Biz=(Chicago) Reporter Paul Lee] It is expected that the Busan Lotte Tower will resume more than 20 years after receiving the building permit. The construction of the site was suspended in 2013 after purchasing the site of the Busan Metropolitan Government building in 1996.
If completed 340m high as planned, it is expected to become the third tallest skyscraper in Korea after Jamsil Lotte World Tower (555m) and Busan Haeundae L-City (412m), beating Yeouido Park One Tower (318m) and Songdo POSCO Tower (305m).
The Busan Metropolitan Government said on the 18th that it has changed the implementation plan for the city planning project of Busan Lotte Tower and approved the design change.
As a result, Lotte Shopping soon submitted a hazard risk prevention plan to the Busan Regional Construction Management Administration and went through deliberation and approval for about two months. Construction will then begin in mid-August and will be completed as early as the first half of 2026.
An observatory and an art gallery will be built on the top 10 floors of Lotte Tower in Busan, and a sky lounge, an extreme sports facility and a skywalk will be built on the middle two floors. In addition, shopping malls, experience facilities, and food halls will be located on the bottom 11 floors.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
