Busan is good

Shinsegye-Chelsea to open outlet in Busan

Contents

(Tentaltively named) Busan Multi-Market of Shinsegye-Chelsea is expected to come to near Jangan-eup, Gijang-gun, Busan.

According to Busan Metropolitan City on February 26, Shinsegye-Chelsea is seeking to build the Busan Multi-Market in Jangan-eup, Gijang-gun, Busan and it is scheduled to sign an MOU with Busan, if early, in March.

According to the proposal submitted recently to Busan by Shinsegye-Chelsea, the market will house a premium outlet mall, specialty stores and large shops.

The market will begin construction in 2008 and open in 2010.

Shinsegye-Chelsea is a joint venture of Shinsegye and American premium outlet Chelsea and it is a premium outlet store that sells a-year-old goods of world-famous fashion brands at a discout of 30 ~ 70%.

Shinsegye-Chelsea is currently building an outlet mall in Yeoju, Gyeonggi-do.

Once the Busan market is build, it is expected to create more than 4,000 new jobs and attract 6 million tourists annually, contributing to the regional tourism industry.

[Source: The Korea Economic Daily (February 26, 2007)]