IKEA East Busan Branch Breaks Ground in December 2018
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The global furniture retailer, IKEA, has started construction on its East Busan branch in the OSIRIA Tourism Complex, Gijang-gun. The groundbreaking ceremony was held on December 12, 2018.
Busan Metropolitan City and IKEA made an agreement to establish a local branch in Busan in February 2017.
The main contents of the agreement include:
▻ IKEA is to establish a local branch in Busan and will open its store in the OSIRIA Tourism Complex
▻ Utilize Busan Bank as its financial transaction partner
▻ Hire about 500 local citizens
▻ Provide an opportunity to local companies for local procurement and outsourcing and seek ways to build win-win relationships with Busan’s commercial and industrial sectors
The construction of the IKEA East Busan branch is expected to be completed by the end of this year in order to open its doors to the public by early 2020. The opening of the IKEA East Busan branch is expected to create jobs for local talented workers off all ages and classes and offer a great range of benefits to its workers.
IKEA East Busan branch is expected to be one of the city’s tourist attractions, along with the theme park, Aqua World and Resort which is to also be built in the OSIRIA Tourism Complex.
The Swedish-based global home furniture company IKEA, established in 1943, operates 422 stores in 50 countries worldwide with about 208,000 employees. There are two branches in Gwangmyeong and Goyang in Korea.
For more information, please contact the Investment Promotion Division at (051)888-4459.
