Gwangju Employers Federation Welcomes City and Shinsegae Complex Mall Negotiations

"Expectations for Revitalizing the Gwangju and Jeonnam Commercial Districts"

Economic organizations in the Gwangju region have expressed their support for the official start of negotiations between the Gwangju city government and Gwangju Shinsegae regarding the 'Premium Department Store Expansion Project.'

On July 3, the Gwangju Employers Federation issued a statement, saying, "We welcome the fact that negotiations are now underway between the Gwangju city government and Gwangju Shinsegae, just three months after we called for prompt support from the city and relevant licensing authorities to ensure the smooth progress of the 'Premium Department Store Expansion Project,' which Gwangju Shinsegae has been pursuing to revitalize the local economy and create jobs."

The development of the Gwangju Shinsegae Premium Department Store, which is scheduled to be built near the Gwangju Bus Terminal in 2027, has faced repeated delays. As a result, concerns have been growing among local businesses and residents, and there was a risk that the project could be canceled altogether.

Since its establishment in April 1995, Gwangju Shinsegae Department Store has served not only as a leading department store and landmark representing Gwangju and Jeonnam, but also as a major hub for both the economy and culture. It has contributed to strengthening the city's competitiveness by forming a commercial district and playing a vital role beyond simply being a shopping space.

In particular, in response to requests from the local community, the store has operated as a local corporation paying taxes to the local government. Over the past 30 years, it has promoted local consumption, contributed to job creation, and played a key role in developing the local tourism industry.

The Gwangju Employers Federation stated, "If Gwangju Shinsegae's plan to expand into a 'landmark department store that combines shopping, culture, and the arts,' with an investment of 4.4 trillion won last year, is reflected, it will be positively received by the local community. If negotiations proceed as planned, numerous jobs will be created during both the construction and operation phases, and the formation of a commercial district will increase the number of visitors to Gwangju and boost local economic growth by increasing consumer spending."

The statement continued, "Measures should be established to ensure safe and convenient transportation for residents of Gwangju and Jeonnam, and win-win solutions must be prepared so that small business owners do not face difficulties in their livelihoods." The Federation added, "If negotiations with the Gwangju city government proceed smoothly, we will spare no effort to support the successful implementation of the Gwangju Shinsegae Premium Department Store Expansion Project, which will contribute to the economic development of the region and the establishment of a landmark for both Gwangju and Jeonnam."