Last year the Seoul Metropolitan Government announced their plans to build the Seoul Ring, a hubless ferris wheel. It was supposed to look like this:

It's now received a rather strange design update, and been re-christened the Seoul Twin Eye, which will stand 220m (722') tall:

As you can see, there are both inside and outside tracks that the pods travel along. It's not clear if the individual pods are dedicated to one of the two tracks, or if they can switch between them in a Moebius-strip-like manner.

According to architecture firm UN Studio, who contributed to the design:

"The Seoul Twin Eye will accommodate 64 capsules, each carrying 20-25 people at once. In total, it can provide rides to more than 1,400 people simultaneously, almost doubling the capacity of the London Eye."

"The design team focused on the concept of unity as a symbol for the design. The wheel is inspired by the Honcheonsigye, an astronomical clock that represents the movement of celestial objects through time. The double ring structure of the 'Seoul Twin Eye' provides both stability and a unique aesthetic."

The Seoul Twin Eye was designed in collaboration between UN Studio, design/engineering firm Arup and Korean firm Heerim Architecture. The projected completion date is 2028.