BUSAN, Aug. 17 (Yonhap) — A groundbreaking ceremony was held in the southeastern port city of Busan on Thursday to mark the beginning of construction on the long-delayed Busan Lotte Tower. The 67-story, 342.5-meter skyscraper is set to be built on the former site of Busan City Hall by 2026.
Once completed, the Busan Lotte Tower will become the nation’s third-tallest building after the 555-meter Lotte World Tower in southern Seoul and the 411-meter LCT Landmark Tower in Busan. A rendering of the skyscraper is shown in the image provided by Lotte Shopping Co.
The groundbreaking came about 20 years after the project was first announced. Lotte Shopping obtained a construction permit for a Lotte Department Store outlet at the site in 2000 on the condition that the company also builds the Busan Lotte Tower there. As the skyscraper’s construction did not show any progress, the Busan city government refused to extend the temporary operating permit for the department store last year.
Lotte Shopping said the skyscraper will feature a variety of tourist attractions, including a differentiated rooftop observatory with a 360-degree view of the city, as well as a shopping mall complex with unique stores that can attract both domestic and foreign visitors. The city government and the company also expect that the Busan Lotte Tower will become a key landmark if the city succeeds in its bid to host the 2030 World Expo. ycm@yna.co.kr (END)