Hotel Hyundai Gyeongpodae will be reborn as a high-rise luxury resort in 2014 on one of the most popular beaches along the country’s east coast.

Hyundai Heavy Industries said Wednesday it has clinched a deal with Gangneung City to rebuild the 40-year-old structure into a 20-story hotel with 160 rooms by May 2014. Demolition work is scheduled to begin in May.

The shipbuilder runs four luxury hotels here and one in Vladivostok, Russia, through its affiliate Hotel Hyundai.

Some 240 kilometers east of Seoul, Gyeongpodae is one of Korea’s big tourist destinations known for its beautiful beach and the view of the first full moon of the Lunar New Year.

Joining the project is renowned architect Richard Meier, who gained fame for his work on the Jubilee Church in Rome and the Getty Center in Los Angeles. James Corner, chair of the University of Pennsylvania’s landscape architecture program, will also be in charge of planning and design, officials said.

“The initiative will help stimulate the local economy and entice more visitors as well as large international events,” a Hyundai official said.

“The 2018 Winter Olympics will be a good chance to introduce Gyeongpodae and our brand new hotel to the world, since it’s only about 30 minutes away from Pyeongchang.”

By Shin Hyon-hee (heeshin@heraldcorp.com)