'Grand Starfield Gwangju' Set to Open by 2030

Signed Development Agreement with Gwangju Urban Corporation
Phased Development to be Promoted until 2033

The 'Grand Starfield Gwangju' project, being developed on the site of the Eodeungsan Tourist Complex in Gwangju, is set to accelerate with the goal of opening in 2030.

Shinsegae Property announced on the 22nd that it has signed a business agreement with Gwangju Urban Corporation to jointly promote the development of the Eodeungsan Tourist Complex site. According to the agreement, the corporation will handle administrative procedures for the tourist complex development project and land sales, while Shinsegae Property will establish business plans and proceed with development to transform the amusement park site into a tourism hub.

Shinsegae Property signed a business agreement with Gwangju Urban Corporation on the 22nd to jointly promote the development of the Eodeungsan Tourism Complex site, agreeing to cooperate for the swift and successful advancement of the project. Jeong Mingon, President of Gwangju Urban Corporation (left), Kang Ki-jung, Mayor of Gwangju (center), and Lim Young-rok, President of Shinsegae Property (right), posed for a commemorative photo after the signing ceremony at Gwangju City Hall on the 22nd.
[Photo by Shinsegae Property]

Grand Starfield Gwangju is a tourist complex amusement park development project pursued by Shinsegae Property on a 417,531㎡ (approximately 126,000 pyeong) site in Gwangju’s Eodeungsan area. Shinsegae Property plans to structure the construction schedule into three phases, aiming for the first opening of 'Grand Starfield Gwangju' in 2030 and the final opening in 2033. To this end, preliminary preparations including site management will begin in the second half of 2025, with construction of the first and second phase facilities starting in 2027.

Shinsegae Property has planned the first phase to include infrastructure as well as a wildflower garden and a children’s specialized library within the tourism, leisure, and entertainment district. The second phase will include Starfield and condominiums. Additionally, originally planned third-phase facilities such as the golf range will be incorporated into the second phase, aiming for completion of the first and second phase facilities together by 2030. The third phase will focus on revenue-generating facilities such as residences and ancillary facilities, targeting completion in 2033.

The total investment for this project is 1.3403 trillion KRW by 2033. Shinsegae Property will pay 10% (63.5 billion KRW) of the total project cost excluding land and commercial building costs as a performance bond for the agreement, in stages before construction begins. The land sale price was finally set at 86 billion KRW, exceeding the 85.6 billion KRW appraisal value presented by the corporation. The land supply contract will be signed within 15 days from the agreement date, with a 10% down payment to be made.

Lim Young-rok, CEO of Shinsegae Property, stated, "With the momentum gained in promoting the complex lifestyle center 'Grand Starfield Gwangju' to be unveiled in 2030, we will prepare steadily to meet the long-standing hopes and expectations of Gwangju citizens. We aim to establish it as a nationally representative landmark visited by over 30 million people annually and contribute to regional development."