The government has decided to ease regulations to allow Hyundai Motor to build a high-rise building complex in southern Seoul.

In a meeting of economy ministers on Monday, the government said it will ensure the construction of Hyundai Global Business Center begins as soon as possible. 

The government expects the construction of the general complex integrating the automaker's headquarters and diverse other facilities will create investment effects of three-point-seven trillion won.

The government also pledged to pursue corporate investment worth over six trillion won, including projects to create a cluster of chip makers and build a K-Pop concert hall in Seoul. 

In addition, it will allow private investment in projects involving all public facilities by revising a related law in the first half of next year.