The Skyscraper is designed to represent Songdo City. It will include offices, residential space, and a hotel. It will be a Korean landmark upon completion. The complex is located at the US$35 billion New Songdo City, which will cover over 6 km2 (2.3 sq mi) of land and is about 32 km (20 mi) from the nation's capital, Seoul. Developer Portman Holdings, run by John Portman, signed an agreement with South Korean officials to build the tower.