The building's plan for a 105-story height was reportedly a Cold War response to a South Korean company's completion of the Westin Stamford Hotel in Singapore the previous year. North Korean leadership envisioned the project as a channel for Western investors to step into the marketplace. A firm, the Ryugyong Hotel Investment and Management Co., was established to attract a hoped-for US$230 million in foreign investment. A representative for the North Korean government promised relaxed oversight, saying, "The foreign investors can even operate casinos, nightclubs or Japanese lounges if they want to.
Ryugyong Hotel was one of Kim Jong Il's plans of really putting North Korea on the World Map. He thought the best way to do that would be to build the world's largest structure. The Koreans started buillding Ryugyong in 1987 but ceased construction in 1992 due to serious financial difficulties. The country never recovered from its financial crisis so the work on Ryugyong never picked up, until 2008 when the government decided to resume work on their giant super-structure.
With North Korea's tourism at an absolute low, Ryugyong Hotel will probably be nothing more than a really large building, although Kim Jong Il has tried to convince the world that his huge hotel is a success by faking images and spreading them in the media.
Ryugyong Hotel was one of Kim Jong Il's plans of really putting North Korea on the World Map. He thought the best way to do that would be to build the world's largest structure. The Koreans started buillding Ryugyong in 1987 but ceased construction in 1992 due to serious financial difficulties. The country never recovered from its financial crisis so the work on Ryugyong never picked up, until 2008 when the government decided to resume work on their giant super-structure.
With North Korea's tourism at an absolute low, Ryugyong Hotel will probably be nothing more than a really large building, although Kim Jong Il has tried to convince the world that his huge hotel is a success by faking images and spreading them in the media.
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