After long delays, the 123-story Lotte World Tower is finally ready to open. This is in spite of the fact that Lotte is going through a lot of turmoil. The founder of Lotte is facing corruption charges and their stores are being closed in China due to the deployment of THAAD by the U.S. Add that to the impeachment of president Park and the impending presidential election has put Lotte in their worst crisis ever. Now with the opening of the Lotte World Tower, many are wondering if it will be enough to rejuvenate Lotte.
The Lotte World Tower will be the tallest building in Korea standing 555 meters that will be filled with high-end offices as well as residences. At the top will be an observation deck to look out across Seoul. The Lotte World Tower had an estimated construction cost of close $3.5 billion. It is located next to the Lotte World Mall and across the street from Lotte World.
Here is the breakdown of how the Lotte World Tower will be divided into.
Floors 1-12 – Finance Center, Medical Center, Fitness Center, Gallery
Floors 14-38 – Prime Offices
Floors 42-71 – Residences
Floors 76 – 101 – Hotel (235 rooms)
Floors 108-114 – Premium Private Offices
Floors 117-123 – Observation Deck (900 capacity)
The observation deck will be called “Seoul Sky” and will be the 3rd highest observation deck in the world. It will hold the Guinness World Record in regards to having the fastest double-deck elevator (600 meters per second), the longest distance traveled by a double-deck elevator, the highest swimming pool, and finally the record of having the highest glass-floor observation deck.
The Lotte World Tower was designed mainly for companies, corporations, and Korean startups looking to rent space. So the Tower’s only tourist experience would be the observation deck and the six-star Signiel Hotel which has a restaurant by Yannick Alleno who is the holder of three Michelin stars.
The hope for Lotte is that the Lotte World Tower will be able to generate $10 billion in economic benefits per year as well as attract over 50 million tourists.