POSCO E&C Breaks Ground for Construction of Haeundae Tourist Resort LCT

- Fully commences construction for one Landmark Tower building (101 stories, 411m) which is the second-highest in Korea at the time of commencement, and two apartment buildings (85 stories, 333m/339m) that are the highest in Korea

- Rapid surge in project stability and investment value due to POSCO E&C being in charge of construction

SEOUL, South Korea, Oct. 19, 2015 (Antara/PRNewswire) -- POSCO E&C held a groundbreaking ceremony for its super high-rise landmark Haeundae Tourist Resort LCT to be built on Haeundae Beach, Busan, one of the best vacation spots in Korea.

Haeundae Tourist Resort LCT will feature one 101-story Landmark Tower that will be the second-highest in Korea as of the date of commencement, and the two tallest apartment buildings in Korea named 'Haeundae LCT The Sharp'. The construction expense for this project will amount to 1.4904 trillion KRW, and the construction will take 50 months and is expected to be completed by November 2019.

Haeundae Tourist Resort LCT will feature desirable infrastructure for living in its buildings, such as leisure, recreation, shopping and business. It also offers an open view of the ocean with Haeundae Beach acting as the front yard, which will secure its place as a future growth engine for tourism business.

POSCO E&C is widely regarded as the best construction company in terms of brand power and consumer satisfaction, obtained by supplying housing facilities for over 10,000 households in Busan alone, including Haeundae The Sharp Adelis.

POSCO E&C continues to amass business acumen and technical aptitude from successfully constructing multiple super high-rise buildings including Korea's tallest building Northeast Asia Trade Tower in Songdo (68 stories, 305m), Dongtan Metapolis, Songdo First World, and Busan The Sharp Centum Star.

With 86 patents such as wind-resistant/earthquake-proof structure planning related to super high-rise building construction and disaster prevention systems as well as 5 new forms of technology, POSCO E&C will also apply a range of super high-rise construction technologies to these new buildings, which will be constructed as Korea's highest pure reinforced concrete buildings.