South Korea’s transportation conglomerate Hanjin Group finally opened the 73-story skyscraper Wilshire Grand Center in Los Angeles, California after it has spent about $1 billion over eight years to build it.

The group held on Friday (local time) the opening ceremony for L.A.’s now tallest building located between downtown Wilshire and Figueroa. Attending the event were Hanjin Group Chairman Cho Yang-ho, Korean Air President Cho Won-tae, AC Martin CEO Chris Martin, CEO of The Americas at InterContinental Hotels Group Elie Maalouf, and L.A. City Councilman Jose Huizar.

“I have achieved my personal dream and fulfilled my promise with L.A. with the opening of Wilshire Grand Center,” said Chairman Cho at the event, adding, “This is a good example of foreign investment emphasized by President Trump, and I expect that this building would transform the skyline of downtown Los Angeles, becoming one of L.A.’s landmarks.”

The parent company for Korea’s largest flag carrier Korean Air Lines Co. acquired the Wilshire Grand Hotel in 1989 through its U.S. entity Hanjin International Corp. In 2009, the group announced its plan to revamp the hotel into a modern hotel and office complex and invested about $1 billion over eight years.

The center, modeled after Yosemite Valley, is an eco-friendly structure built with the latest construction methods, according to the company. With the use of buckling restrained braces, the building is designed to withstand earthquakes measuring 8 on the Richter scale.

The first seven floors of the 335-meter (1,100 feet) skyscraper will be used as commercial and convention areas, commanding an office space of 37,000 square meters. The upper levels will house the 900-room hotel, with the lobby on the 70th floor to provide visitors a sweeping view of the city.

By Sohn Jae-gwon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]