Gwangju Employers Federation Urges Swift Expansion of 'Premium Gwangju Shinsegae Project'

The Gwangju Employers Federation stated on the 3rd, "In order for the 'Premium Department Store Expansion Project' that Gwangju Shinsegae has been pursuing to revitalize the local economy and create jobs to proceed smoothly, prompt support from Gwangju City and other relevant permitting authorities is necessary."

In a press release issued that day, the Gwangju Employers Federation said, "There is growing concern among the local business community and residents as the development of the Gwangju Shinsegae Premium Department Store, which is scheduled to be established near the Gwangju Express Bus Terminal in 2027, continues to be delayed." They added, "Since its opening in April 1995, Gwangju Shinsegae Department Store has served as a representative department store and landmark of Gwangju and Jeonnam, playing a key role as an economic and cultural hub beyond being a simple shopping space."

They continued, "In particular, in response to requests from the local community, it has been operated as a local corporation that pays taxes to the local government. For the past 30 years, it has promoted local consumption, created jobs, and contributed to the development of the local tourism industry." They explained, "Last year, Gwangju Shinsegae proposed a business plan to expand into a 'landmark department store combining shopping, culture, and art' with an investment of 4.4 trillion KRW, attracting great interest and expectations from the local community."

They also stated, "If the project proceeds as planned, numerous jobs will be created during both the construction and operational phases. The formation of the Gwangju-Jeonnam commercial district will increase visitors to Gwangju City, leading to higher consumer spending and providing an opportunity for the local economy to take a leap forward." However, they pointed out, "More than a year has passed since the project plan was announced, but there has been no progress in the expansion project due to various factors. With the prolonged domestic and global economic downturn and weakened consumer sentiment, there is growing concern that this rare opportunity for Gwangju City to boost consumption, create jobs, and establish a landmark for distribution and culture may be lost."

Furthermore, they added, "As Gwangju Metropolitan City is the permitting authority and Gwangcheon Terminal (U Square) is a major gateway used by many citizens, it must provide full support to ensure the smooth progress of the Gwangju Shinsegae Department Store expansion project for the modernization of the terminal." They continued, "Gwangju Shinsegae should also establish traffic measures to ensure that residents of Gwangju and Jeonnam can use the facility safely and conveniently, and prepare win-win solutions to prevent any difficulties for small business owners."