"Mutual Growth Agreement Signed"… Starfield Suwon to Open Within the Year

Agreement Reached with Traditional Market Merchants Association Early This Month After Long Negotiations
Regional Cooperation Contract to Be Submitted by Next Month at the Latest

Shinsegae Group's complex shopping mall 'Starfield Suwon' will open within this year as originally planned. Starfield Suwon's opening had been uncertain due to delays in reaching a coexistence agreement with local merchants.

An aerial view of Suwon Starfield, covering a total floor area of 331,000㎡, located at 111 Jeongja-dong, Jangan-gu, Suwon City.
[Photo provided by Shinsegae Property]

Shinsegae Property, which is promoting the opening of Starfield Suwon, announced on the 11th that Starfield Suwon, the fifth Starfield following Hanam, Goyang, COEX Mall, and Anseong, is scheduled to open by the end of this year. Since construction began in February 2021, Starfield Suwon has completed coexistence agreements with the Gyeonggi Southern Supermarket Cooperative, Suwon Small Business Association, and earlier this month, the Suwon Merchants Association, completing preparations for opening. According to the current Distribution Industry Development Act, opening a large-scale store like Starfield requires a regional cooperation contract based on a coexistence agreement with local merchants. Shinsegae Property plans to submit the regional cooperation contract to Suwon City by next month at the latest.

Previously, until May of this year, Starfield Suwon had not even been able to set up a negotiation table with the Suwon Merchants Association, composed of merchants from 22 traditional markets in the Suwon area, leading to widespread expectations that opening within this year would be difficult. Shinsegae Property reportedly broke the ice in talks with the Suwon Merchants Association starting this summer and reached an agreement earlier this month.

Starfield Suwon will be developed on a site at 111 Jeongja-dong, Jangan-gu, Suwon City, with a total floor area of 331,000㎡ (8 basement floors and 8 above-ground floors). The mall reflects the lifestyle of the MZ generation (Millennials + Generation Z) and considers the regional characteristics of Suwon. Beyond a conventional shopping mall, it will include cultural and sports facilities, attracting populations not only from Suwon but also from neighboring cities, according to the company's vision. In particular, the sports facilities will be designed as a community-based hotel-style 'Concord Fitness Club,' reflecting the Healthy Pleasure trend that has spread since COVID-19. As a cultural facility, the 'Starfield Library' will be introduced for the first time since the Starfield COEX Mall in Samseong-dong, Seoul.

Meanwhile, Shinsegae Property installed 'Yellow Carpets,' traffic safety zones for children, at two intersections near Songnim Elementary School close to Starfield Suwon through the Green Umbrella Children's Foundation in early August. In October, they will hold the 'Starfield Suwon Win-Win Partner Company Job Fair' to prioritize hiring local residents and will also contribute funds for special guarantees for small business owners.