Groundbreaking ceremony for extension is held on October 14 with Gyeonggi Province’s investment promotion

Doubled store size, additionally creating 1,000 jobs

◇ Yeoju Shinsegae Premium Outlets, for which Gyeonggi Province attracted investment, held the groundbreaking ceremony for extension on October 14. Governor Kim is pressing the button for the official start. ⓒ Gyeonggi G-News Heo Seon-ryang

◇ Governor Kim is congratulating the extension of the outlets. ⓒ Gyeonggi G-News Heo Seon-ryang

Yeoju Shinsegae Premium Outlets, for which Gyeonggi Province attracted investment, will double the size of stores by 2014 and transform into the largest premium outlets in Asia.

Shinsegae Simon held the groundbreaking ceremony for extension presided by announcer Kim Hyeon-wook on October 14 at Yeoju Premium Outlets located in Sanggeo-dong, Yeoju, Gyeonggi Province. Gyeonggi Governor Kim Moon-soo as well as Shinsegae Group President KimHae-sung, Shinsegae Simon CEO Gang Myung-goo, Yeoju Mayor Kim Chun-seok, Gyeonggi Assembly members Kim Jin-ho and Won Wook-hee, and local residents attended the ceremony, which was held to declare the start of the construction.

“On this special sunny day of Yeoju, I would like to congratulate the start of the construction to extend the outlets, which will be the largest in Asia,” said Governor Kim Moon-soo. “I am proud of it as the provincial governor. The Shinsegae Outlets have contributed to the inflow and development of local population, which played a significant role in raising Yeoju to a city on September 23. I would like to thank the Shinsegae employees for that.”

Governor Kim also added, “By extending the outlets, there will be more jobs for Yeoju citizens. The company will pay more tax such as corporation tax, which will contribute to the local finances as well. In particular, a 500-pyeong special sales shop of agricultural products will be established and donated to Yeoju, which will lead the visitors to purchase more agricultural products and help Yeoju farmers greatly.”

◇ If the extension work for Yeoju Shinsegae Premium Outlets is completed by 2014, the size of the stores will be doubled and they will turn into the largest premium outlets in Asia. ⓒ Gyeonggi G-News Heo Seon-ryang

“I expect Shinsegae Outlets to become the largest high-class shopping center in Asia at which all Asians from Seoul as well as Japan and China shop,” said Governor Kim.

“90% of tourists who travel in New York shop at Woodbury Common Premium Outlets,” said Shinsegae Group President Kim Hae-sung. “We will strive to make Yeoju Outlets the larger and more developed outlets than Woodbury, turning them into a tourist attraction for which foreign visitors in Seoul will visit Yeoju, and contribute to Gyeonggi Province and Yeoju.

“After the extension, Yeoju Outlets will be the largest in Asia, larger even than Japan’s Gotemba Premium Outlets,” said Yeoju Mayor Kim Chun-seok. “It is also expected to contribute greatly to job creation. I hope this extension serves as a momentum for Yeoju to leap into the hub of culture, tourism and shopping.”

After the groundbreaking ceremony, Governor Kim was guided by Shinsegae Group President Kim in looking around the outlets. He listened to the explanation such as the brands, products and price levels.

“It’s a little far from Seoul; are there many visitors?” he asked at a store, to which the store manager replied, “Many tourists, people who want to enjoy weekends and holidays, and travelers using Yeongdong Expressway come here to shop.”

 Governor Kim looked around theoutlets and especially requested the company to “contribute to the creation of jobs for local residents.” ⓒ Gyeonggi G-News Heo Seon-ryang

Governor Kim especially requested the company to “contribute to the creation of jobs for local youth, as the young generation will want to work in these outlets.”

Shinsegae Simon is planning to extend Yeoju Premium Outlets, which is currently 264,400 ㎡ (80,000 pyeong), to 463,413㎡ (140,000 pyeong) by 2014 with the investment of KRW 80 billion.

After the extension, the number of stores will increase to over 250 from the current 144, which is the largest in Asia and larger even than Gotemba Premium Outlets in Shizuoka, Japan, the current largest in Asia with 210 stores. The total size of the site will be bigger than Gotemba Premium Outlets’ 300,000㎡.

Back in November 2011, Gyeonggi Province had signed an MOU with Shinsegae Simon and Yeoju in regard to the extension of Yeoju Premium Outlets.

Gyeonggi expects this extension to create more than 1,000 new jobs and attract over 6 million visitors a year from Korea as well as other countries including China. In particular, Shinsegae Simon will establish and donate to Yeoju a 500-pyeong special sales shop of agricultural products in the Premium Outlets site, which is expected to revive the regional economy.

Since its opening in June 2007, Yeoju Premium Outlets have been achieving an economic effect of KRW 600 billion and creation of 9,000 jobs a year.

◇ Participants including Governor Kim, Shinsegae Group President Kim Hae-sung, Shinsegae Simon CEO Gang Myung-goo, Yeoju Mayor Kim Chun-seok, Gyeonggi Assembly members Kim Jin-ho and Won Wook-hee are taking a commemorative photograph. ⓒ Gyeonggi G-News Heo Seon-ryang

◇ Yeoju citizens are celebrating the extension of the outlets. ⓒ Gyeonggi G-News Heo Seon-ryang

ⓒGyeonggi G-News | Chun Kyeong-nam ckn0403@kg21.net 

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