Shinsegae Simon Completes Major Renewal of Busan Premium Outlets After 11 Years

Aggressive Targeting of 7.5 Million Population Mega Commercial Area in Busan, Ulsan, and Gyeongnam
Sales Area Expanded 1.5 Times Compared to Previous Size

Shinsegae Simon announced on the 27th that it will open the first large-scale renewal expansion in 11 years following the opening of the Busan Premium Outlet in September. Through this, it aims to become a new shopping landmark encompassing the 7.5 million population of the Busan, Ulsan, and Gyeongnam regions.

Shinsegae Simon Busan Premium Outlet opened in August 2013 as the first premium outlet in Busan and the first among metropolitan cities nationwide. It has a sales area of approximately 10,000 pyeong (33,100㎡) and houses over 170 brands. Located in Jang-an-eup, Gijang-gun, a suburban area of Busan, last year, customers from the metropolitan market areas such as Ulsan and Gyeongnam accounted for 50% of the premium outlet’s purchasing members in Busan.

Shinsegae Simon plans to equip the outlet with premium brands and spatial competitiveness surpassing those of metropolitan shopping centers through this large-scale renewal expansion, aiming to become a new shopping landmark for the 7.5 million Busan, Ulsan, and Gyeongnam market.

With this renewal expansion, the sales area of Busan Premium Outlet will increase by about 54% to 15,600 pyeong (51,480㎡). This size is comparable to Shinsegae Simon’s major metropolitan stores, Yeoju and Paju Premium Outlets. The number of brands will expand from the existing 170 to about 270 by attracting around 100 new brands, reaching the level of metropolitan outlets.

The existing space has been newly renovated. In the newly expanded area, the largest Nike Factory Store outside the metropolitan area, occupying 530 pyeong, will open. Additionally, 11 F&B (food and beverage) brands famous for their long lines in Seoul and the metropolitan area have been attracted to Busan for the first time by a local distributor.

Furthermore, the largest golf specialty hall nationwide, covering about 1,600 pyeong, will be established. Six specialized zones by genre, including children’s, living, shoes, accessories & jewelry, will also be newly introduced. Each genre will feature carefully selected high-quality brands, delivering exclusive value that can only be enjoyed at Shinsegae Outlet.

Notably, the design involved ARCADIS, a global company that oversaw the Dubai Burj Khalifa project, the world’s tallest building, focusing on presenting a differentiated premium space. The outlet itself, with its exotic exterior, is expected to become a tourist attraction and landmark, offering diverse appeal to customers.

More than 50% of the common area will be developed as green and resting spaces, maximizing the advantages of an outdoor outlet. A specialized space inspired by European tourist attractions has also been newly created, realizing an open-type ‘retail therapy’ space where customers can enjoy shopping, relaxation, healing, and experiences all together.

Kim Young-seop, CEO of Shinsegae Simon, said, “We have concentrated Shinsegae Simon’s capabilities to showcase the highest level in the region from brands to space and content,” adding, “By embedding Shinsegae Simon’s DNA of ‘first’ and ‘premium,’ we will leap forward as a shopping landmark representing the Busan, Ulsan, and Gyeongnam region.”