New Shopping Complex in Hanam

Hong Kong’s King Power Group, Shinsegae Corporation, and the local government agree to invest KRW 900 billion. Hanam to build Hanam Union Square in Local Project Zone 2

– Gyeonggi. Province Governor Kim Moon-soo met with Shinsege Vice President Heo In-cheol, King Power Group CEO Antares Cheng, and Hanam City Mayor Lee Kyo-bum at the Crown Plaza Hotel in Beijing, China, on June 25th to sign an MOA for a shopping mall complex, Hanam Union Square, in Hanam’s Local Project Zone 2. – GNews Plus News

A delegation from Gyeonggi Province visited China and the Philippines between May 25th and 28th to promote the shopping and entertainment resort soon to be built in Hanam.

Gyeonggi Province Governor Kim Moon-soo met with Shinsege Vice President Heo In-cheol, King Power Group CEO Antares Cheng, and Hanam City Mayor Lee Kyo-bum at the Crown Plaza Hotel in Beijing, China, on June 25th to sign an MOA for a shopping mall complex, Hanam Union Square, in Hanam’s Local Project Zone 2.

Hong Kong King Power Group is a global distributor run by foreign investments. They agreed to invest USD 860 million in Sinjang-dong in Hanam, including direct foreign investment of USD 250 million, to create Korea’s largest luxury shopping mall, Hanam Union Square (provisional name).

Governor Kim Moon-soo remarked during the meeting that “Hong Kong’s global distribution company King Power Group and Korea’s leading distributor Shinsegae will accomplish great things together. Hanam Union Square will bring about a great synergy effect. Local and overseas tourists will flock to see the place.”

Antares Cheng King Power Group’s CEO said, “The large shopping complex is strategically located in the greater metropolitan area. It will become a Chinese tourist magnet being next to a scenic river and easily accessible. 

Heo In-cheol, vice president of Shinsegae, said, “This is the third investment project between Gyeonggi Province and Shinsegae after the Yeoju Premium Outlet and the Paju Premium Outlet, but Hanam will be much, much bigger than the rest. Korea has yet to see a complex that combines shopping, entertainment, and a resort in one place. Gyeonggi Province has taken on the challenge. This will be the greatest shopping destination yet.”

King Power Group and Shinsegae will construct and manage Hanam Union Square together. The lot is 117,116 m2 and is located near the Misari Motorboat Racing Park of Sinjang-dong. The building will feature 385,680 m2 of floor space, making it truly gigantic in scale. It will open in 2014. 

When the Union Square opens, it will create 1,500 full-time jobs, and by the year 2016 it is exacted to employ up to 15,000 people. Gyeonggi Province and Hanam will hold a job fair to give locals the first chance to apply for the newly created jobs.

The MOU is especially meaningful in that it was a result of the local government’s efforts to attract foreign investment by amending certain policies and undoing Green Belt among other actions.

Concurrently, the Hanam City Urban Innovation Corporation is planning to use Local Project Zone 2 (570,286 m2) asa base for distribution (117,116 m2), housing construction (150,808 m2), infrastructure and public facilities (302,362 m2) so as to establish a cultural distribution complex with residential areas (for 2,800 homes and 7,700 people).

– GNews Plus News | Nam Gyeong-wu 

http://gnews.gg.go.kr/news/news_detail.asp?number=201105251744157055C052&s_code=C052