Opening of IKEA Dongbusan Store

Opening in Gijang-gun Osiria Tourism Complex... First in Non-Capital Region

[Asia Economy Yeongnam Reporting Headquarters Reporter Yoon Yoseop] IKEA Dongbusan Store opened on the 13th within the Osiria Tourist Complex in Gijang-gun, Busan. It is IKEA Korea's first store outside the metropolitan area.

The Osiria Tourist Complex is Busan's representative tourist attraction visited by more than 8 million people annually. It is set to introduce the largest Lotte World Adventure Busan theme park in Korea and Aqua World, Asia's largest lagoon-type aquarium. With the opening of IKEA Dongbusan Store, if the demand from the southern region, which had been heading to the metropolitan area, is attracted to Busan, the Osiria Tourist Complex is expected to become the nation's top tourist complex in name and reality.

Busan City signed an agreement with IKEA Korea in 2017 to open IKEA Dongbusan Store in harmony with the local community. The agreement included ▲establishment of a local corporation in Busan ▲use of regional banks as financial transaction partners ▲hiring of local talent and providing opportunities for local businesses ▲continuous efforts to find win-win solutions with local small and medium-sized merchants.

Since then, Busan City has succeeded in establishing the first local corporation of a major distribution company in Busan through continuous consultations with IKEA Korea for the operation of IKEA Dongbusan Store. Achievements include ▲using Busan Bank as a financial transaction partner ▲newly hiring 465 local talents in Busan ▲win-win cooperation with local small and medium-sized merchants.

While the entry of IKEA is expected to increase purchasing convenience for citizens, concerns from related small business owners, including furniture companies, still remain.

Regarding this, Oh Keo-don, Mayor of Busan, said, “We will continuously monitor the win-win cooperation between IKEA Korea and local small and medium-sized merchants,” and added, “We will strive to realize a cooperative model that coexists with Busan citizens through the creation of quality jobs and revitalization of the local economy.”

Exterior view of IKEA Dongbusan store. (Photo by Busan City Hall)