Hyundai Motor Group, chosen Thursday as the buyer of the land that the state energy agency put up for sale, laid out an ambitious plan to use the expensive property to build a global business center and an automobile theme park emulating auto giant Volkswagen.
The world's fifth-largest automotive conglomerate submitted the winning bid of 10.55 trillion won (US$10.12 billion) for the 79,345-square-meter site in posh southern Seoul that currently houses the Seoul headquarters of the state-run Korea Electric Power Corp.