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Old August 23rd, 2015, 09:40 PM   #421
Victoria123
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This won't start in a very very long time.
Expect something like 10+ years.

1. Gangnam sued Seoul regarding this project, and they will be going into court. (You know how long this will take)

2.Seocheo and Gangnam citizens have a lot of conflicting opinions, and problems with this that will never end tbh.

3. Hyundai Kia's revenues and stock prices will drop for at least 5 years helped by the the current China crisis.

4. Hyundai has a huge dependence on the Chinese market. The Chinese are starting not to buy Hyundai,Kia,Toyota, and other Japanese car makers. Look up Hyundai sales and you will see the huge drop in the Chinese market.

5. Hyundai and Samsung started its 2nd war for the hospital land behind the former KEPCO HQ.

6. Hyundai has to develop the olympic stadium along with Samsung, and the Kepco land, as a wish from Seoul. However they have already stated they will be giving up their Tducksom land mass for Seoul.

I say this project will not begin any time soon. Possibly up to 10+ years like what happened to the LWT tower
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Old August 24th, 2015, 12:13 AM   #422
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Old August 24th, 2015, 04:02 AM   #423
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Quote:
Originally Posted by aquaticko View Post
It cannot be repeated enough that without major socioeconomic reforms, Japan's present is South Korea's future. How you don't see that is baffling to me .
Hmmm, Japan has a much more developed service sector than South Korea and a much larger domestic market. If South Korea's exporters lose their competitive edge the way many of Japan's have, the situation will be much more dire for the country.
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Old August 24th, 2015, 03:59 PM   #424
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Well that's the point, anyway: things will be at least as bad as Japan, if not worse. And yet, some people think that Korea is different, and it'll just magically sail through its current economic and demographic crises, coming out much the same if not better than it was before.

Heads deep in the sand.
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Old August 24th, 2015, 05:03 PM   #425
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Quote:
Originally Posted by aquaticko View Post
things will be at least as bad as Japan, if not worse. And yet, some people think that Korea is different.
Well, it IS different:

The Korean economy works differently than the Japanese, especially as business in Korea is more open to foreign investment and far, far less conservative and bureaucratic.
Therefore its more flexible for changes.

The first big difference is that Korean people and the government realize that relying too much on chaebol companies is dangerous, that's why they (at least try) to diversify Korea's business (startups, biotech etc.) and try to strengthen smaller businesses.
Its a long and slow process, but still, there are policies to reduce the dominance of the chaebol since the late 90s. In Japan there isn't.
Even Daewoo was allowed to fail after the crisis in 1998. Something where Japan is much more conservative and still encourages the dominance of their conglomerates.

The second big difference is that Japan was extremely cautious in its economic policies. Japanese people were encouraged to save all their extra income instead of spending it, up to this day. Something that is stagnating the Japanese economy since 20 years!
Here in Korea, spending and consumption is huge.

Last but not least: public debt. Japan has a debt-to-GDP ration of over 230%, while Korea never even reached 35%.
This leaves much more space for supporting the economy, instead of choking it like in Japan.

Anyway, there are many factors that show that Korea might avoid Japan's fate, especially as they can also perfectly learn from their neighbor.

If you want more about this topic, here is a nice source (from page 66):
https://books.google.at/books?id=dxW...page&q&f=false

sorry for the off-topic.
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Old August 24th, 2015, 06:33 PM   #426
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I just don't think I trust Saenuri to actually do with the chaebol what needs to be done--namely, political castration. Citizens may know they're the problem, and the government might as well, but PGH's recent pardonings of various chaebol heads says the government either doesn't think their influence is as intense as it is, or that they feel powerless to do anything.

You always hear about how these people are released because they are "essential" to the economy, or how they are necessary to "revitalize" the economy, when in fact, most of the big chaebol--the ones that matter--are globalized enough that they matter far more to Korea than Korea does to them.

As the whole Lotte affair has shown, they know they have to pay lip service to the notion that they are Korean companies first and foremost, but they're as global as anyone else, and I'm fairly certain that they'll withdraw from Korea as much as it is financially useful and politically feasible to do so.

Additionally, yes, Korean companies are less conservative and more open than Japanese ones--and those are descriptors I'd apply to South Korea as a whole, too--but the tendency both naturally and historically is that when the going gets tough, people withdraw from and reject situations that are perceived as risky to focus on what they feel safe doing. Kudos to Korea if that doesn't happen, but once again, the absence of real social, economic, and political reforms over the last decade, in a country that reformed almost non-stop over the prior forty years, suggests that it will.

P.S. Yes this is off-topic, but no else is going to the Korean economy thread with me .
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Old August 24th, 2015, 06:46 PM   #427
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Quote:
Originally Posted by Victoria123 View Post
This won't start in a very very long time.
Expect something like 10+ years.

5. Hyundai and Samsung started its 2nd war for the hospital land behind the former KEPCO HQ.

Today
HYUNDAI&SAMSUNG both of them didn't participated on the competition biding of Seoul medical building
"Seoul medical building distance 100m from KEPCO furthermore ontheway a lot of Billa,road block between areas. So it is lost in economical efficiency" said HYUNDAI concern! Also Seoul mayor asking TOO MANY PUBLIC DONATION(50%) FOR PARTICIPATED COMPANY
http://www.zdnet.co.kr/news/news_vie...9&type=det&re=

So that reason Seoul mayor got shock! almost FAINT

BUT I believe SAMSUNG insurance will be get that land

In short HYUNDAI think KEPCO site ENOUGH FOR accommodation All group!

Officially Now HYUNDAI is going to choose ONE FINAL Global architect firm for 571M DESIGN!!
I think either SOM or KPF
10 years impossible story for them
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Last edited by inno4321; August 24th, 2015 at 06:57 PM.
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Old August 24th, 2015, 07:14 PM   #428
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Quote:
Originally Posted by aquaticko View Post
I just don't think I trust Saenuri to actually do with the chaebol what needs to be done--namely, political castration. Citizens may know they're the problem, and the government might as well, but PGH's recent pardonings of various chaebol heads says the government either doesn't think their influence is as intense as it is, or that they feel powerless to do anything.

You always hear about how these people are released because they are "essential" to the economy, or how they are necessary to "revitalize" the economy, when in fact, most of the big chaebol--the ones that matter--are globalized enough that they matter far more to Korea than Korea does to them.

As the whole Lotte affair has shown, they know they have to pay lip service to the notion that they are Korean companies first and foremost, but they're as global as anyone else, and I'm fairly certain that they'll withdraw from Korea as much as it is financially useful and politically feasible to do so.

Additionally, yes, Korean companies are less conservative and more open than Japanese ones--and those are descriptors I'd apply to South Korea as a whole, too--but the tendency both naturally and historically is that when the going gets tough, people withdraw from and reject situations that are perceived as risky to focus on what they feel safe doing. Kudos to Korea if that doesn't happen, but once again, the absence of real social, economic, and political reforms over the last decade, in a country that reformed almost non-stop over the prior forty years, suggests that it will.

P.S. Yes this is off-topic, but no else is going to the Korean economy thread with me .

Hi dear friend
Don;t worry about Skorea's economy future
According to the Global CREDIT RATING AGENCIES, Unified KOREA Peninsular's power(economy/TECH etc) is going to ahead than UK/FRANCE/JAPAN even GERMANY!
So plz worry about UK's DEBT n economy!
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Old August 24th, 2015, 07:26 PM   #429
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Nobody worries about UK, Germany, France economies becuase they're strong ones, no necessary worry. If Korea will pass these economies, that'll be great for it, but there is no need to worry about European economies, they are strong too.
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Old August 24th, 2015, 07:41 PM   #430
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2014 IMF resource

Quote:
Originally Posted by Seoul_Korea View Post
Nobody worries about UK, Germany, France economies becuase they're strong ones, no necessary worry. If Korea will pass these economies, that'll be great for it, but there is no need to worry about European economies, they are strong too.
well Everyone have a right opinions
but I don't thinks so. UK debt per GDP is 89.4% it is almost TWO time bigger than SK
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Old August 24th, 2015, 07:48 PM   #431
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Quote:
Originally Posted by inno4321 View Post

Today
HYUNDAI&SAMSUNG both of them didn't participated on the competition biding of Seoul medical building
"Seoul medical building distance 100m from KEPCO furthermore ontheway a lot of Billa,road block between areas. So it is lost in economical efficiency" said HYUNDAI concern! Also Seoul mayor asking TOO MANY PUBLIC DONATION(50%) FOR PARTICIPATED COMPANY
http://www.zdnet.co.kr/news/news_vie...9&type=det&re=

So that reason Seoul mayor got shock! almost FAINT

BUT I believe SAMSUNG insurance will be get that land

In short HYUNDAI think KEPCO site ENOUGH FOR accommodation All group!

Officially Now HYUNDAI is going to choose ONE FINAL Global architect firm for 571M DESIGN!!
I think either SOM or KPF
10 years impossible story for them

Don't think I don't want this to be built. I am as excited as you are. I'm just expressing my worry for a possible delay. Because I'm sick of construction delays that happen like night and day with Seoul.

Anyways although it'd be cool if Hyundai developed the Samsung site along with the KEPCO site, I think we'd have a better balance with Samsung occupying the hospital site. Plus Samsung will likely compete for a better design or at least a design that will be on par with the new Hyundai landmark.
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Old August 24th, 2015, 07:56 PM   #432
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Quote:
Originally Posted by Victoria123 View Post
Don't think I don't want this to be built. I am as excited as you are. I'm just expressing my worry for a possible delay. Because I'm sick of construction delays that happen like night and day with Seoul.

Anyways although it'd be cool if Hyundai developed the Samsung site along with the KEPCO site, I think we'd have a better balance with Samsung occupying the hospital site. Plus Samsung will likely compete for a better design or at least a design that will be on par with the new Hyundai landmark.

RIGHT
Everyone who seeing Seoul's Proposal history admit with your worry.
sometimes big expectation bring some big skeptical response from individual. especially yongsan ibd
Also imo it is more good for beautiful design that samsung insurance get that "seoul building" cause it can be UNIFIED DESIGN with beside "KOREA APPRAISAL BUILDING"
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Old August 25th, 2015, 10:14 AM   #433
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Welcome to Seoul

http://media.daum.net/economic/estat...50825152032135
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Old September 14th, 2015, 11:38 PM   #434
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http://stock.hankyung.com/news/app/n...=2015091124956

Official
HYUNDAI is going to finish to pay all land price $ 10 billions

according to the HYUNDAY they will pay last money until end of this month
-they suggested $ 1.6 billions for public cash donation for 571m HQ.
-Gangnam district want to invest this money on the HUGE UNDERGROUND SPACE project.
-But seoul government want to investment this money in 88 OLYMPIC STADIUM AREA redevelopment project.
-but in market these conflict can not influence hyunday's stock.
-cause if they finish money n get the whole property right then hyunday reevaluated by market and real estate estimate price rise up and many affiliates's annual lease money will be saved and group company gather together in ONE space that synergy effect will be bring positive influence
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Old September 22nd, 2015, 05:41 AM   #435
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http://cast.wowtv.co.kr/20150922/A201509220858.html

HYUNDAI is going to last finish pay for 571m's land at 25 Sept
"No problem(to pay last money)" say HYUNDAI concern.
So HYUNDAI pay all money($ 10 billions) on this project at 25 spet
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Old September 24th, 2015, 01:20 AM   #436
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Volks Wagen's stock plummeted and $ 30 billions disappear due to emission fraud
furthermore they in the risk to pay $ 18 billions for penalty and considering sue by costumer i can't imagine how much they pay more...

But hyundai investment $ 13 billions to built 571m ..this invest money will not disappear.

How clear they are,

p.s Tomorrow hyundai is going to finish pay $ 3 bllions for 571m's land.
End up All land property belong to Hyundai forever
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Old September 25th, 2015, 03:47 PM   #437
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http://www.yonhapnews.co.kr/bulletin...ML?input=1195m

At last!!
Today(25 sept) HYUNDAI Full pay for 571m tower's land.
So all property belong to HYUNDAI OWN!!
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Old September 26th, 2015, 01:10 AM   #438
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Quote:
Originally Posted by inno4321 View Post
http://www.yonhapnews.co.kr/bulletin...ML?input=1195m

At last!!
Today(25 sept) HYUNDAI Full pay for 571m tower's land.
So all property belong to HYUNDAI OWN!!
When will we get new renderings for this building? Or is the previous one approved..
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Old September 27th, 2015, 06:52 PM   #439
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When will we get new renderings for this building? Or is the previous one approved..
well
frankly I don't know when we get new rendering.
But onething is sure that previous one is no more.

P.S Recently I read news that HYUNDAI considering to choose one rendering among 3 global architecture's film. and under negotiation with seoul government.
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Old September 27th, 2015, 11:01 PM   #440
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Thanks for the info Inno.
I have one omore question. So now we all know Hyudai completed its payment. Does it mean that Hyundai can build their HQ any time they want or do they still have to confront the government for further negotiations?
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