Proposed Super City in South Korea Will Cost $275 Billion

Proposed Super City in South Korea Will Cost $275 Billion

In an attempt to boost the tourism industry, South Korea is proposing a super city that will cost approximately $275 billion. The giant metropolis will be built on the island of Yongyu-Muui in the port city of Incheon, adjacent to Incheon International Airport. It will be called City8 and will create an estimated 930,000 new jobs and attract 134 million tourists annually. However the large price of the endeavour have led to skepticism as to whether or not the plan will come to fruition.

Features for the tourist city in South Korea include: casinos, shopping malls, theme park, water park, Formula One racing track, 50,000 seat concert hall, a medical themed “healing town,” luxury hotels and a “hallyu town” which shows off traditional Korean entertainment. City8 will also have a series of artificial landmarks, one of which is the “Inner Circle,” a smart tubular 14 km (8.6 mile) building along the coast, and the “Mega Strip,” a 200 meter (656 feet) high, 880 meters wide (2,887 feet), and 3.3 kilometer (two mile) long building that would be the largest architectural object ever.

The total surface area of South Korea’s megacity is 4.85 square kilometers (1.9 square miles). Aside from the tourist attractions, City8 will also have offices, permanent and temporary housing, and government services. The project will be the greatest tourism scale endeavour in the world. Park Seong Hyung, vice chairman of of EIGHTCITY Co., the lead developer of City8, stated that it will become the world’s greatest city. He continued to describe that the massive metropolis will have the creativity of Dubai, casinos and entertainment centers of Las Vegas and the financial hubs and shopping centers of Hong Kong and Singapore.

The proposed super city in South Korea is scheduled to be complete by 2030. EIGHTYCITY Co. has already secured $2.8 billion in funding from South Korean investors, and an additional 1 billion from the United Kingdom’s Sandbar Development. The location of the city, next to the country’s busiest airport, is expected to garner mass amounts of tourists, mostly from China.

The planned super city is not the only major architectural endeavour South Korea is pursuing. An ecological community that would house up to 320,000 people could appear to the west of Seoul. The city would house green industries and eco-friendly homes. It would also incorporate the world’s largest bridge linking North and South Korea.

Plans for the city mean for it to be completely self-sustainable, requiring no fuel inputs from exterior sources. At 300 square kilometers, the Seoul development would boost the Incheon Free Economic Zone from 32,000 to 320,000. The architects of this project are the British Foster and Partners, who recently won an international competition to come up with the design of the development.

Foster and Partners have shared some ideas for the development, including a Light Rapid Transit system which will link the three main areas in the South Korean city. The design of the city was inspired by the look of a leaf, instead of massive highways, the city will have small streets and more pedestrian walkways, like the veins that run through one. In an attempt to boost tourism, South Korea is proposing a super city that would cost approximately $275 billion.

By Andres Loubriel

Sources:
Wired
Sourcefed
io9

2 Responses to "Proposed Super City in South Korea Will Cost $275 Billion"

  1. User66   July 8, 2014 at 6:16 am

    That is a lot of money

    Reply
  2. jong   July 7, 2014 at 4:29 pm

    I thought eight co lost its rights to build that

    Reply

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