Lotte World Tower finds it hard to open within this year

SEOUL, Aug. 3 (Yonhap) — Building South Korea’s largest skyscraper has been the long-coveted dream of the founder of Lotte Group, but opening the 123-story structure within this year has become an elusive goal due to the widening probe into the retail giant and its senior officials, according to company officials Wednesday.

Lotte World Tower in southern Seoul opened the lower part in late 2014 amid lingering safety concerns, and the upper part is nearing completion. With four months left on the proposed deadline, 91 percent of the construction has been completed except for final touches on curtain walls, interior and landscape design, company officials said.

Construction of Lotte World Tower is underway to complete the upper part of the 123-story skycraper in Seoul on June 28, 2016.

Lotte Group earlier said it plans to get final approval and hold an opening ceremony in December, but many question the feasibility because senior officials have been under investigation for slush fund allegations and other shady business practices.

To make matters worse, Noh Byung-yong, the head of Lotte Corp. in charge of Lotte World Tower and Mall, was arrested in June for toxic humidifier sterilizers sold by Lotte Mart, which involved several deaths and illnesses. Noh had served as sales director at the discount chain before being promoted to the chief of Lotte Corp. in 2010.

Lotte founder Shin Kyuk-ho had initially planned to use one of the suites on the 114th floor for his office, but the 94-year-old tycoon is dealing with a legal guardian suit as part of the prolonged succession feud between his two sons.

Market watchers say it remains also unclear whether Lotte could clear safety concerns in the review process within the proposed schedule. The lower part of the skyscraper was temporarily closed after opening in 2014 due to complaints about vibration between floors and water leakage in its aquarium.

“The final stage of the construction is still underway with the goal of opening within this year, but it depends on how much time it takes to get final approval from authorities,” a senior Lotte official said.

“Even if it’s completed by the end of the year, the opening ceremony and relocation of offices could be delayed as several senior and working officials are currently under investigation.”