Shinsegae to Simultaneously Develop Starfield and Department Store in Gwangju
Shinsegae Property Reviews Eodeungsan Tourist Complex as Honam Region's First Starfield Candidate Site
Plan to Develop Authentic Stay-Type Complex Shopping Mall with Shopping, Culture, Leisure, Entertainment, and Recreation
Shinsegae Department Store to Make Gwangju Shinsegae a 'Landmark Department Store'... Honam's First 'A.Ru.Sha' Entry
"Synergy from Simultaneous Starfield and Department Store Development... Will Contribute to Job Creation and Regional Economic Revitalization"
[Asia Economy Reporter Kim Yuri] The blueprint for the complex shopping mall in Gwangju Metropolitan City, a campaign promise of President Yoon Seok-yeol, is becoming concrete. Following Hyundai Department Store Group, Shinsegae Group is also actively pushing to build the first Starfield in the Honam region on the site of Eodeungsan in Gwangju.
Shinsegae Property announced on the 17th that it plans to develop 'Starfield Gwangju (tentative name),' a stay-type authentic complex shopping mall where visitors can enjoy shopping, culture, leisure, entertainment, and relaxation all in one place, by pooling its experience and capabilities operating Starfield, the first and largest complex shopping mall in Korea. At the same time, Shinsegae Group will significantly expand the existing Gwangju Shinsegae to develop it beyond the region’s number one store into the 'best landmark department store in Korea.'
The newly completed 'Gwangju Shinsegae Art & Culture Park' is expected to become a future-oriented premium department store combining the strengths of flagship stores nationwide, such as the upscale Gangnam branch, the scale of Centum City branch, and the complex cultural and artistic space of the Daejeon branch. A Shinsegae Group official said, "Gwangju Shinsegae has grown as the region’s number one store over 28 years, thanks to the love and support of the people of Gwangju and the Honam region after establishing a local corporation for the first time in the industry. To repay the support of the people of Gwangju and Honam, we have long been reviewing the simultaneous promotion of Starfield Gwangju construction and the expansion and renewal of Gwangju Shinsegae."
The simultaneous development of Starfield Gwangju and Gwangju Shinsegae Art & Culture Park is expected to create synergy, contributing to the development of Gwangju and the Honam region by generating employment, revitalizing the local economy, and enhancing consumer welfare. Starfield will establish a local corporation in Gwangju following Hanam, Goyang, and Anseong. It plans to create about 30,000 direct and indirect jobs through prioritizing local hiring, supporting small business owners and SME brands, and win-win projects supporting traditional markets, thereby contributing to regional economic revitalization. Gwangju Shinsegae Art & Culture Park will create about 25,000 direct and indirect jobs and
take the lead in nurturing local talent through internships for outstanding local talents and industry-academia cooperation with regional universities. It is expected to generate about 55,000 direct and indirect jobs and population inflow due to employment inducement. An increase in tax revenue from the two local corporations is also anticipated.
◆Shinsegae Property to Build Honam Region’s First Starfield... Reviewing Eodeungsan Site
Shinsegae Property is pushing to build Honam region’s first authentic complex shopping mall, Starfield Gwangju, on the western Gwangju Eodeungsan site. By pooling the experience and capabilities of Shinsegae Property, which operates Starfield, it plans to develop it into the best shopping theme park in the Honam area.
Since opening Starfield Hanam in September 2016, Shinsegae Property introduced the concept of complex shopping malls to Korea for the first time and currently operates seven stores: four Starfields (Hanam, Goyang, Anseong in Gyeonggi-do, and Seoul COEX Mall) and three urban complex shopping malls called Starfield City (Wirye, Myeongji, Bucheon).
The slogan of Starfield is 'Shopping Theme Park,' with the core value of 'sharing customers’ time.' It is designed as a shopping mall where visitors can enjoy shopping, culture, leisure, entertainment, and healing all in one place, enabling a 'one-day trip.' It includes experiential play facilities like Sports Monster, indoor water parks, jjimjilbang (Korean sauna), cinemas, and various exhibitions and performances, allowing visitors to stay and enjoy all day long.
While department stores and large marts mainly focus on product sales to enable efficient shopping, Starfield is mainly visited for outings and relaxation, so it is designed around spaces for food and beverage, services,
and entertainment beyond product sales, allowing customers to spend the day experiencing various activities.
Starfield offers free parking for over 5,000 vehicles simultaneously (Hanam 6,200, Goyang 5,200, Anseong 5,000) so that urban residents can enjoy leisure activities nearby without the burden of paid parking and relax on weekends. This has led to Starfield being recognized not just as a retail facility but as a community infrastructure.
The reason Shinsegae Property selected the Eodeungsan tourist complex site on the outskirts of Gwangju is that it has the conditions to create various experiential facilities on a large site. The company said, "We aim to develop a mega-sized stay-type complex shopping mall combining shopping, neighborhood living facilities, experiential content, leisure, and relaxation to develop the local community and revitalize the regional economy."
Starfield Gwangju plans to house more than 300 diverse brands, an urban water park, and experiential sports facilities. It will reflect local characteristics, customer needs, and the lifestyle of the MZ generation (Millennials + Generation Z) in its store composition and showcase cultural enjoyment content using IT technology.
Since it uses a large site on the city outskirts, it is expected to be freer from traffic congestion and parking difficulties. Lim Young-rok, CEO of Shinsegae Property, said, "We will present differentiated content unique to Starfield Gwangju. We will pool our capabilities to develop a true stay-type complex shopping mall combined with relaxation and make it a mecca of regional tourism." He added, "We will finalize the site, master plan, and administrative procedures as soon as possible and start construction."
◆Shinsegae Department Store Upgraded with Art + Culture... 'E·Ru·Sha' to Open
Shinsegae Department Store will also unveil a landmark department store in Gwangju. The Gwangju Shinsegae Art & Culture Park, scheduled to begin construction next year, aims to upgrade the lives of citizens in Gwangju and the Honam region by combining culture and art with cutting-edge science and the latest shopping trends.
The total sales area will be 132,230㎡ (about 40,000 pyeong), comparable to the world’s largest Shinsegae Centum City branch. In addition to the currently operating Gwangju Shinsegae and E-Mart sites, nearby owned land will be added to present a new landmark. The company said, "Gwangju Shinsegae Art & Culture Park will enrich the quality of life of local residents by showcasing artworks throughout the store, including galleries, media art walls, and open large bookstores."
The gallery’s scale and class will be upgraded to museum level, with experiential art projects and floor-by-floor art stages. The urban theme park 'Bitgoeul Rooftop Garden,' featuring a rooftop park, rooftop restaurants, and a pet park, will be combined with a mega-sized natural light void and indoor waterfall.
The latest digital trends will also be implemented in a 'smart store.' Various technologies such as blockchain payment, digital media, artificial intelligence, metaverse, and non-fungible tokens (NFTs) will maximize customer experience. New services using big data will be developed in collaboration with local universities and startups.
For the first time in the Gwangju and Honam region, 'EruSha' (Herm?s, Louis Vuitton, Chanel) will open stores, and the current 530 brands, including the region’s only Louis Vuitton, Bottega Veneta, Saint Laurent, and Moncler, will be expanded about twofold to showcase a total of around 1,000 brands.
Lee Dong-hoon, CEO of Gwangju Shinsegae, said, "As a leading local company that has grown together as a local corporation for 28 years, we will inherit the value of the existing Gwangju Shinsegae and quickly present a landmark filled with differentiated content and brands that local residents desire."
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