OREANDA-NEWS. August 01, 2014. POSCO Engineering & Construction (CEO Taek-hyeon Hwang) completed construction of NEAT Tower (North East Asia Trade Tower), the country`s highest skyscraper in Songdo International Business District, Incheon in Korea.

National Assembly Members Woo-yea Hwang and Hak-yong Shin, Incheon Mayor Jeong-bok Yoo, the head of Incheon city council Kyeong-soo Noh, the director of Incheon Free Economic Zone Jong-cheol Lee, POSCO CEO Oh-joon Kwon, POSCO E&C CEO Tae-hyeon Hwang, the Vice President of Daewoo International Jeon-woo Choi, the President of Songdo International City Development Stan Gale and 150 other officials participated in the building completion ceremony.

NEAT Tower(68 stories, 305m), completed in 8 years after the construction began in 2006, put its name as the tallest building in Korea, beyond We`ve the Zenith (80 stories, 301m) in Haeundae, Busan. NEAT Tower has 12 fewer stories than We`ve the Zenith (High-rise residential building), but it is 4m higher as it is designed for office with higher floor height than apartment building.

POSCO E&C, responsible for development of the Songdo International Business District, invested in NEAT Tower project with Gale International.

NEAT Tower is a large-scale complex with offices, a hotel and restaurants. A number of domestic and overseas companies including Daewoo International will move into the tower (offices on 2nd-33rd floors), and hotel Oakwood Premier Incheon having 423 rooms (on 36th-64th floors) including the penthouse on the uppermost floor will move into the tower. In addition, it is possible to view the whole city at the observation platform (on 65th floor).

A residence hotel Oakwood Premier Incheon, which is scheduled to be open on July 23rd, will be used by the national squads during Incheon Asian Games in September.

NEAT Tower is expected not only to become a new landmark, but also boost the regional economy along with an increase in floating population, markets, employment and visitors from overseas once companies move into the building. Moreover, it appears to give momentum to draw more businesses to Songdo International Business District since clients of Daewoo International and other companies engaged in the related fields are expected to move into the building.

It is also well-equipped with systems and safeguards against accidents and disasters. That is, NEAT Tower is designed to detect and manage problems in real-time, using GPS (Global Positioning System) sensors when it is vibrated, changed in location or deformed due to external factors like wind.

An integrated emergency room is located on the 1st basement level to monitor power, lighting, CCTV and access while safety zones on the 30th and 60th floors are established to allow people to evacuate safe and quickly in case of emergency, for example, a fire.

``Daewoo International that is moving into NEAT Tower is the company most suited for the development purpose of Songdo International Business District in a sense that it does business with more than 100 countries around the world. It is expected to drive the regional economic growth as it draws leading domestic and overseas companies to the city and furthermore, stimulate more investment and businesses relocation of related companies``, said Incheon Mayer Jeong-bok Yoo.

``I am proud that POSCO Family has taken part in the far-sighted national project that promotes the national interests and drives the prosperity of Northeast Asia. I hope that NEAT Tower, a new landmark in Songdo International Business District, will brings an influx of good-quality capital to the city and reinvigorates the economy of the area``, said CEO Oh-joon Kwon in his congratulatory address.