Hyundai Heavy Industries is opening a new hotel in Gangneung, Gangwon Province, aiming to become a landmark for the 2018 PyeongChang Winter Olympics.
The SEAMARQ hotel, to be launched on Friday, is designed by New York-based architect Richard Meier and built by Hyundai Engineering and Construction, the company said in a statement Thursday.
The environmentally friendly building uses solar energy and geothermal heat to reduce environmental damage, according to the firm.
The hotel was previously known as Hyundai Hotel Gyeongpodae, which opened in 1971. After 40 years of operations, the company decided to rebuild it in 2013.
"Hyundai Heavy has been sailing through rough waters recently, but we'll surely overcome this situation soon and grow with the SEAMARQ hotel," Hyundai Heavy chairman Kwon Oh-gap said in the statement.