Korea’s biggest premium outlet will be built in the East Busan Tourism Complex. Busan has signed an MOU with Busan Metropolitan Corporation and Lotte Shopping to build commercial facilities in East Busan Tourism Complex. Lotte Shopping invested 300 billion won to set out the construction of the East Busan Premium Outlet on a 100,000m2 site in the East Busan Tourism Complex, and this is due to open in 2015.
The site area is a bit smaller than with Shinsegae’s Chelsea Busan Premium Outlet that will be built in Jangan District, in Gijang-gun, but the size of the outlet itself will be bigger.
Lotte Shopping estimates that it will attract more than 4 million visitors annually. Busan expects it will attract not only domestic tourists but foreign tourists from China and Japan too, when the development of tourism facilities in East Busan Tourism Complex starts in earnest.
Source: Busan City News