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Skyscrapers' economic windfalls

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Government should not let Gangnam District monopolize development gains of GBC

A debate has flared anew on how to share the development gains from the construction of Hyundai Motor's new headquarters, the Global Business Center (GBC), in Samseong-dong, southern Seoul. It is not right for the Gangnam District, where the GBC is located, to seek a monopoly on the astronomical sum of real estate development profit. Such a hoarding of Hyundai Motor's "public contribution" will lead to reinvestment in the already wealthy district, which, in turn, will push up property prices there even........

© The Korea Times