Image: Lotte Shopping ()
The construction of the Busan Lotte Tower, set to become a landmark of Busan’s original downtown, is finally entering construction.
According to Busan City and Lotte Group today, Lotte Shopping will hold a groundbreaking ceremony at the Busan Lotte Tower construction site on the 17th – with the completion date targeted for the first half of 2026.
The project was initially approved in 2000 with 107 floors and a height of 428 meters but faced delays due to concerns about profitability.
Once completed, Busan Lotte Tower will be the second tallest building in Busan, surpassed only by LCT Landmark Tower (411.6m). Nationally, it will be the third tallest after the 123rd floor (554.5m) Lotte Tower in Jamsil, Seoul.
City officials and Lotte anticipate that the tower will become a landmark in the North Port area, where the potential 2030 World Expo may be held.
The completion of Busan Lotte Tower is expected to revitalize tourism in the old city center, which has taken a backseat to areas like Haeundae and Seomyeon.
While tourists have been gathering in the original city center, centered around Yeongdo-gu, the lack of a clear attraction has been a concern. The tourism industry believes that Lotte Tower in Busan could address this issue.
