Image: Lotte Shopping ()
Construction on the long-neglected Busan Lotte Tower in Jung-gu, Busan is finally underway after over 20 years of delays.
The city of Busan and Lotte have announced their plans to complete administrative procedures, including approval of changes to the urban planning project, in early June, with construction scheduled to begin in August.
Lotte intends to establish a dedicated task force to ensure that the tower becomes a landmark building in Busan.
Originally granted building permits in 2000 as a 107-story (428m) structure with accommodation and business facilities, the project faced multiple setbacks in securing business feasibility.
In 2013, only excavation work was completed before it was halted. In 2019, the plans were scaled down to a 56-story (300m) observation tower with an aerial arboretum.
However, the project faced further uncertainty when the City Landscape Deliberation Committee revisited the decision. Last year, the city and Lotte signed a business agreement to expedite the construction project, and earlier this year, Lotte’s proposal to increase the tower to the 67th floor (342m) passed landscape reviews.
The anticipated completion date for Busan Lotte Tower is the end of 2025, although delays in administrative procedures could push the timeline back by approximately one to two years. City officials cite additional deliberations due to the nature of a high-rise building. Some design changes are expected once construction begins.
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.
