Expansion Opening Ceremony of Shinsegae Simon Busan Premium Outlet at 10 a.m. on the 12th
Over 50 Attendees Including Mayor Park Hyungjoon, City Council Chair, and Shinsegae Simon CEO
Busan City announced that the expansion opening ceremony of the Shinsegae Simon Busan Premium Outlet (located in Jangan-eup, Gijang-gun) will be held at 10 a.m. on the 12th.
The event will be attended by about 50 people, including Mayor Park Hyungjun, City Council Chairperson Ahn Sungmin, and Shinsegae Simon CEO Kim Youngsub. The ceremony will proceed in the following order: commemorative speech, congratulatory address, ribbon cutting, and a tour of the expanded site.
This expansion opening ceremony is being held to commemorate the first time in 11 years that the Shinsegae Simon Premium Outlet, which first opened in Busan in 2013, has expanded its site.
Shinsegae Simon Premium Outlet is a joint venture between Shinsegae Group and the U.S.-based Simon Property Group, operating premium outlets in Busan, Yeoju, Paju, Siheung in Gyeonggi Province, and Jeju.
Shinsegae Simon invested approximately $110 million (144.7 billion KRW) to expand the existing site from about 33,000 square meters to 51,000 square meters, and increased the number of brands from about 170 to around 260. In particular, by hiring about 300 local residents, it is expected to make a significant contribution to local job creation.
The city expects that the expansion and reopening of Shinsegae Simon Busan Premium Outlet will not only invigorate the development of the local distribution industry, but also serve as an opportunity for large corporations and the local community to achieve mutual growth by supporting local employment and helping small local businesses find new sales channels.
Shinsegae Simon Busan Premium Outlet is making efforts for mutual growth with the local community, such as hosting job fairs for local residents, providing support and venues to help sell local specialties from Gijang, and offering sponsorships to support vulnerable groups in the region.
Kim Youngsub, CEO of Shinsegae Simon, said, "Busan Premium Outlet has been completely renovated and reborn through large-scale investment over the past two years," adding, "We will continue to grow with the region and become a beloved landmark shopping destination for our customers."
Mayor Park Hyungjun said, "Congratulations on the expansion and reopening of Shinsegae Simon Busan Premium Outlet," adding, "At a time when the distribution industry is facing challenges due to the growth of online commerce, I hope Shinsegae Simon's bold $110 million investment will bring new energy to the local distribution sector. Our city will actively support large corporations and the local community to achieve mutual growth."
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