The Ryugyong's 3,000 rooms and 7 revolving restaurants were to open in June 1989 for the World Festival of Youth and Students, but problems with building methods and materials delayed it. Japanese newspapers estimated the cost of construction was $750 million — 2% of North Korea's GDP—and it is generally assumed construction came to a halt in 1992 due to lack of funding, acute electricity shortages, and the prevailing famine. It still has a crane on the top.
The basic structure is complete, but it has never been certified as safe for occupancy. As a result, no windows, fixtures or fittings have been installed. According to Emporis, the concrete used in building the Ryugyong Hotel is of unsuitable quality and therefore unsafe. The building is sagging so badly that it will never open as presently constructed.The North Korean government is trying to invite a foreign investment of $300 million to build a new structure for the hotel. In the meantime, it has removed the Ryugyong from maps and stamps and built a newer five-star hotel of more conventional design on the Taedong River.