Gwangju Chamber of Commerce and Employers Federation
Issue Official Statements on the Premium Department Store Expansion Project
Economic organizations in the Gwangju region have welcomed 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 with the Gwangju City Government are taking place just three months after we called for prompt support from the city and other permitting authorities to ensure the smooth progress of the 'premium department store expansion project' that 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 been repeatedly delayed, raising concerns among the local business community and residents. There was even a risk that the project could be canceled altogether.
Since its establishment in April 1995, Gwangju Shinsegae Department Store has served as a landmark and a representative department store for Gwangju and Jeonnam. It has played a key role not only as a shopping destination but also as an economic and cultural hub, helping to form a commercial district and strengthen the city's competitiveness.
In particular, in response to requests from the local community, the department store has operated as a local corporation that pays taxes to the municipality. Over the past 30 years, it has contributed to boosting local consumption, creating jobs, and promoting the development of the local tourism industry.
The Gwangju Employers Federation stated, "If Gwangju Shinsegae's plan to expand into a 'landmark department store combining shopping, culture, and art' with a project cost of 4.4 trillion won last year is reflected, it will be highly regarded by the local community." The federation also explained, "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 consumption, providing a major opportunity for the regional economy to advance."
The federation further stressed, "Measures must be established to ensure that residents of Gwangju and Jeonnam can use the facility safely and conveniently, and solutions must be devised to prevent any negative impact on the livelihoods of small business owners." It added, "If negotiations with the city proceed smoothly, we will spare no effort to support the expansion project of Gwangju Shinsegae Premium Department Store as a new landmark for Gwangju and Jeonnam and as a driver of regional economic development."
On the same day, the Gwangju Chamber of Commerce and Industry also issued a statement, saying, "We hope this negotiation will serve as a beacon of hope, bringing positive change to Gwangju's future," and added, "This marks an important first step toward transforming the city center into a new multi-functional hub."
The Chamber stated, "A 47-story complex organically connecting aboveground and underground spaces, a luxury hotel with 200 rooms, and various public contribution facilities will make this site more than just a commercial development; it will become a new symbol of Gwangju." The Chamber added, "Gwangju City is comprehensively reviewing urban planning issues such as transportation, housing, and the environment, balancing public interest and business feasibility, while Gwangju Shinsegae Co., Ltd. is diligently supplementing its proposal to meet citizens' expectations and is actively engaging in discussions. We expect this journey, built on mutual trust and responsibility, to become a model case of public-private cooperation."
Additionally, the Chamber said, "We hope this negotiation will be concluded without any setbacks, so that the main contract can be signed within this year and construction can begin in the second half of 2026 as planned. Together with the local business community, we will continue to provide our full support and attention to the project."
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