Hyundai Motor Group said it planned to complete construction of a new global headquarters in Seoul by 2026 after it was awarded planning permission from the Seoul metropolitan government.

Construction of the 105-storey Global Business Center (GBC) was scheduled to begin early next year in south east Seoul with the estimated cost of the project yet to be revealed. 

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Hyundai got the go-ahead after it gave reassurances that the building would not interfere with the Air Force's flight operations. A formal agreement was signed with the municipal authorities and the defence ministry, including measures and procedures to be undertaken by the carmaker to prevent interference and the costs involved.

When completed, the GBC will overtake the Lotte World Tower as the country's tallest building. It will serve as the integrated headquarters of 15 companies within the Hyundai Motor Group, housing more than 10,000 office staff. It will also have a hotel, a shopping centre and performance and exhibition halls.

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