BUSAN, South Korea – Busan City held a groundbreaking ceremony for the Shinsegae-Chelsea Busan Premium Outlet Mall on February 3, 2012 at the Jangan Housing Site Development District in Jwadong-ri, Jangan-eup, Gijang-gun. The Busan Premium Outlet with 180 brand name stores is scheduled to open in September 2013.
With a total investment of 160 billion won by Shinsegae-Chelsea, Busan Premium Outlet Mall will be Shinsegae-Chelsea’s third premium outlet in Korea after Yeoju and Paju.
The outlet mall will have 31,380 square meters of retail space within a total area of 43,000 square meters, on a 152,908 square meter site.
The outlet will be located about a four minute drive away from Jangan IC on the Busan-Ulsan Expressway, about 23km from Haeundae, Busan. This is about 45km from Ulsan and 90km from Daegu. When it is completed, the outlet is expected to quickly become a landmark retailing attraction in Korea’s Southeastern region, and another reason for shoppers from Beijing, Shanghai, Tokyo, Fukuoka, and Vladivostok to visit the city.
The CEO of Shinsegae-Chelsea said, “We will develop the outlet mall as a “must visit” place in Busan. For oversea tourists, brands in the outlet mall will reflect the very latest trends of Korea, Japan and China.” An official of Busan City added, “When it is completed, we expect the local economy to be further stimulated. Busan citizens will benefit from preferential hiring policies at the outlet which will create jobs for about 1,000 employees.”