South Korea’s retail giant Lotte Group held a symbolic topping-out ceremony Tuesday afternoon to mark the approaching completion of the Lotte World Tower, the tallest building in the country located in Jamsil, southeastern Seoul.

Lotte Corp. placed the last crossbeam on the roof of the 123-story skyscraper amid much fanfare with some 200 high officials in attendance, including Lotte chairman Shin Dong-bin and Seoul City mayor Park Won-soon.

The Lotte World Tower currently stands at 508 meters as the world’s fifth tallest building in the world. It will reach 555 meters in height once the spire is placed and the interior construction is concluded next year.

“Offering panoramic views of Seoul, the Lotte World Tower will be able to attract some 2 million tourists every year,” said the Lotte chairman in his congratulatory speech.

Mindful of public concerns about safety, Shin emphasized that Lotte would “work to ensure that the tower becomes a safe location that can welcome all visitors” and to “successfully wrap up the remaining construction procedures.”

The supertall skyscraper stands at the center of Lotte’s 3.8 trillion won ($32 billion) project envisioned by Lotte founder Shin Kyuk-ho to build an unparalleled legacy for the company in Jamsil.

Located adjacent to the tower is the Lotte World Mall, a mega shopping complex featuring shops, restaurants, a movie theater and aquarium. The tower is set to house a six-star hotel, office space and an observatory once it is completed next year.

“The Lotte World Tower has been constructed in line with my father’s wish to establish a landmark building in Korea,” said the Lotte chairman, also the eldest son of the Lotte founder.

“The tower will become a structure beloved by people from all over the world.”

By Sohn Ji-young (jys@heraldorp.com)