The Millennium Hilton Seoul hotel will permanently close Saturday after 40 years since it opened.
In a notice on its official website, the hotel chain said it will close down all operations by the last day of 2022 and will no longer be included in the Hilton portfolio from Jan. 1, 2023.
The Millennium Hilton Seoul is a five-star hotel in the heart of Seoul that was constructed in 1983. Kimm Jong-soung, one of South Korea's top contemporary architects, designed the structure.
DW Development Co. had previously held the hotel building, but during the 1997 Asian financial crisis, DW Development Co. sold it to City Developments Limited, a Singapore-based real estate company.
The hotel's current owner, IGIS Asset Management Co., announced plans to demolish the structure and build a new residential complex with hotels and offices.


SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand
Time to buy local: war fuel price shocks reveal the folly of a long food supply chain
Alphabet Shifts AI Strategy Toward Commercial Growth, Goldman Sachs Says
Why have so few atrocities ever been recognised as genocide?
KOSPI Eyes Best Weekly Gain Since June as Samsung, SK Hynix Rally
Every generation thinks they had it the toughest, but for Gen Z, they’re probably right
Yes, government influences wages – but not just in the way you might think
US Dollar Slips as Softer PPI Data Eases Fed Rate Hike Expectations
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns
How to support someone who is grieving: five research-backed strategies
Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar
Google Pushes Gemini AI Overhaul as Sergey Brin Targets Model Supremacy
Want to cut your energy bills? Here’s how five experts are doing it
Columbia Student Mahmoud Khalil Fights Arrest as Deportation Case Moves to New Jersey
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast
Debate over H-1B visas shines spotlight on US tech worker shortages 



