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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hotel Shilla is scheduled to resume construction of the "Hanok Hotel," one of its long-cherished projects, as early as October.
According to the industry on the 13th, Hotel Shilla submitted a statement to the Jung-gu Office in Seoul that it would resume construction of the Hanok Hotel in October.
Under the Building Act, local governments, the licensing authority, can revoke the building permit if the applicant does not start construction within two years from the date of granting the building permit or starts construction but cannot be completed within the period.
The Hotel Shilla Hanok Hotel Construction Project has been a focal project since 2010 when President Lee took office. The plan calls for about 300 billion won to be spent on the main gate of the Shilla Hotel and the duty-free shop site in Jangchung-dong, Jung-gu, Seoul to create a hanok hotel and auxiliary facilities with three basement floors and two basement floors.
When the hotel is built, Hotel Shilla will be the first to own a hanok hotel in downtown Seoul.
Hotel Shilla first submitted its business plan to the Seoul Metropolitan Government in 2011, passed the Urban Planning Committee in 2016, received a construction permit from the Jung-gu Office in January 2020, and began construction in July that year, but construction stopped after the remains of the structure were found.
Since then, construction has been underway on the site where the excavation has been completed, but the construction has stopped again in the aftermath of COVID-19 in the second half of 2021.
It is heard that the 13,614㎡ site, which has been investigated out of the total 16,569㎡, can be constructed.
Hotel Shilla has been considering resuming construction of the Hanok Hotel as its performance has improved this year. Hotel Shilla's operating profit in the first half of this year was 101.8 billion won, nearly doubling from 58.4 billion won in the first half of last year. It is also expected that the inflow of Youkes will begin and that performance will improve due to increased sales at duty-free shops in the second half of the year.
The resumption of construction of the Hanok Hotel has yet to be confirmed as a public announcement, a Hotel Shilla official said.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
