SEOUL, Jul. 18 (Korea Bizwire) — South Korea’s Bando Engineering & Construction (E&C) Co. said Thursday it has purchased part of a building in the commercial district of New York that is widely considered a landmark of the major U.S. city.
Bando E&C said it has purchased the section from the basement level to the second floor of the 2 Times Square building on Broadway in Manhattan, New York, for about US$100 million.
The approximately 2,380 square meters of real estate Bando E&C has purchased serves as a retail mall complex of the 25-floor building.
Located at the intersection of Broadway and 7th Avenue, the building is widely known for its flashy electronic billboard advertisements.
Samsung Electronics Co. and The Coca-Cola Co. have been advertising on the electronic billboards on the exterior walls of this building for decades, and it is considered a key tourist destination in New York, having appeared in various Hollywood movies.
Bando E&C said it plans to introduce K-content, K-food and other Korean cultural elements at the retail mall, targeting over some 130 million annual visitors to the mall.
(Yonhap)