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Old September 25th, 2012, 09:35 PM   #1041
KillerZavatar
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i was afraid this would happen.
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Old September 25th, 2012, 09:53 PM   #1042
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Old September 26th, 2012, 12:38 AM   #1043
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Why couldn't Lotte go on hold instead of this one?
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Old September 26th, 2012, 12:40 AM   #1044
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the worst thing is, this is not just triple one, it is basically the whole new CBD that is on hold now, with all its supertalls.
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Old September 26th, 2012, 04:37 AM   #1045
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Quote:
Originally Posted by KillerZavatar View Post
the worst thing is, this is not just triple one, it is basically the whole new CBD that is on hold now, with all its supertalls.
yeah... it is true attributed by Global Financial Crisis.
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Old September 26th, 2012, 05:49 AM   #1046
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Whaaat! when will they resume working on it? I want to visit Korea so bad just to see this development and Seoul's crazy airport. This country is just awesome its people too
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Old September 26th, 2012, 09:52 AM   #1047
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I'm really sick and tired with this project.

At the very moment KORAIL to make threat against lotte and dreamhub,
If lotte don't give up project then KORAIL stop all financial support.

KORAIL want gradually develop
Lotte want WHOLE as contemporary develop

There is 2 scenario.

1. Next week KORAIL got status which is a chief stock company in dreamhub.

2. Next week KORAIL failed for chief stock company.


1. case IBD push up for gradually develop(First triple one to built and then after others buliding built with temporal gap) Whole project completion at 2022.

2. case is little bit complex....But two example guess...
-KORAIL stop all financial support to project. Dreamhub declaration of default and bangrupt. At last IBD project cancelled. After 4~6years later KORAIL resume but develop only Rail site.
-KORAIL's threat was just bullshit...KORAIL follow lotte. All project going well...
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Last edited by inno4321; September 26th, 2012 at 10:01 AM.
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Old September 26th, 2012, 11:18 AM   #1048
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watching the chaos unfold
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Old September 26th, 2012, 12:36 PM   #1049
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Quote:
Originally Posted by KillerZavatar View Post
watching the chaos unfold

Right It is upheaval!

But Let's hope

Accordding to the today report.(30min later)

KORAIL is impossible give up project. Therefore KORAIL's threat is just brag.

If KORAIL give up project then they are becomes most damaged company than lotte.

This is detail cost KORAIL's lost.
If KORAIL give up project.
-they have to refund stock about 1.5 billion USD which is "site" stock
-they have to return "site sold out money bank rate" to dreamhub about 110 millions USD. until at march 2013.
-they will lost Triple one Pre-buying contract money about 290 millions USD
-they will lost all stock in dreamhub about 170 millions USD
-they will in danger return 590 millions USD wich is stock money other partner company such like a lotte, samsung
-what a worst is rail site will be return to NATIONAL OWN from KORAIL own. Because KORAIL fight with "the ministry of land and transfer" for the nationalization of KTX(high speed tran)

Therefore KORAIL will not try commit suicide. I'm believe.
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Last edited by inno4321; September 26th, 2012 at 12:57 PM.
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Old September 26th, 2012, 02:43 PM   #1050
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that makes sense, bt i think they may drag the project on for years and it will stay on hold and maybe someof the projects inside this masterplan will fall apart or stay years inside the ground like 2WTC in new york
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Old September 27th, 2012, 01:27 AM   #1051
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Quote:
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that makes sense, bt i think they may drag the project on for years and it will stay on hold and maybe someof the projects inside this masterplan will fall apart or stay years inside the ground like 2WTC in new york
Correctly. KORAIL must lesson from 2WTC in new york.
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Old September 27th, 2012, 01:29 AM   #1052
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Quote:
Originally Posted by KillerZavatar View Post
that makes sense, bt i think they may drag the project on for years and it will stay on hold and maybe someof the projects inside this masterplan will fall apart or stay years inside the ground like 2WTC in new york
2wtc is just waiting for 3wtc to get more tenants so that it can search for tenants, doesn't mean it will be on hold for years and years
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Old September 27th, 2012, 09:39 AM   #1053
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Question: is it possible for KORAIL to break up the site into smaller parcels, which could then be sold to other companies and developed individually?
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Old September 27th, 2012, 11:43 AM   #1054
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Quote:
Originally Posted by QuarterMileSidewalk View Post
Question: is it possible for KORAIL to break up the site into smaller parcels, which could then be sold to other companies and developed individually?

Good idea
Actaully KORAIL have a plan to divided 6 sector for gradually develop.

As you know this IBD site is consist with TWO big private land which are apartment block(2200 houses owner is seoul citizens) and Rail road block(KORAIL own)

Therefore apartment block can not sold out to others company becasue it is citizens own.

Problem is Rail road block. Actaully IBD project begin with Goal which is SOLD rail road siteto others company and with that profit reduces their "debt".

Already KORAIL sold rail road site to Dreamhub.
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Old September 27th, 2012, 01:47 PM   #1055
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Big projects always have this kind of in fighting between companies. No worries, it will be built. Maybe even better than planned. Remember Lotte Premium Tower was first proposed back in 1997 as some sort of Eiffel Tower rip off. Over time the designed improved.
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Old September 27th, 2012, 02:19 PM   #1056
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The project most probably won't die because they have so much to loose, but I can imagine that all this time might spawn design changes. In the case of 2WTC a design change is ulikely, because the underground part of it is already built, but in this case, they can change the site to pretty much everything they want. I have mixed view about redesigns. It would be bad if they redesigned the towers because they look very good, however, it would be good if they redesigned Libeskind's site plan
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Old September 27th, 2012, 06:23 PM   #1057
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Quote:
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The project most probably won't die because they have so much to loose, but I can imagine that all this time might spawn design changes. In the case of 2WTC a design change is ulikely, because the underground part of it is already built, but in this case, they can change the site to pretty much everything they want. I have mixed view about redesigns. It would be bad if they redesigned the towers because they look very good, however, it would be good if they redesigned Libeskind's site plan
Yes.I agree with your Opinion!! Voluntary Redesign works of Yongsan IBD could be changed,but Yongsan IBD's Overall Project's Concept Change don't be approved!! maybe this means Time-consuming Action....paradoxically,this is very inefficient!! I think No more have Best Development Plan of Yongsan IBD!! this Development plan is still good!!
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Old September 27th, 2012, 06:58 PM   #1058
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I don't like this project!
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Old September 27th, 2012, 08:26 PM   #1059
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It isn't surprising that a project valued at tens of billions of USD is having problems, but my hopes are kind of the reverse of Kanto's; I think the site plan is fine, but the towers are to disconnected from one another. Here's to hoping things change for the better.
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Old October 4th, 2012, 09:43 AM   #1060
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Quote:
Originally Posted by QuarterMileSidewalk View Post
Question: is it possible for KORAIL to break up the site into smaller parcels, which could then be sold to other companies and developed individually?

What a suprise your opinions.
Accordding to the report(today) KORAIL is going to sold IBD site as small pieces
It is accurately same idea with your prospect. Amazing QuarterMileSidewalk

By the way this is official IBD procedure
1. parliamentary inspection of the administration Concern IBD PROJECT at 11,Oct(KORAIL DREAMHUB LOTTE high staff answer to the congressman's question)
2. The board of directors, probably at 12 ~15, Oct. among One day.
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