Competition Among 'Big 3' Distribution Complex Shopping Malls Intensifies... Gwangju City Begins Accepting Business Proposals

Gwangju City Accepts Project Proposals... Operates 'Complex Shopping Mall New Vitality Administrative Council'
Mayor Kang Gijeong: "Support One-Stop Administrative Processing... Will Disclose Entire Attraction Process"
Hyundai Unveils 'The Hyundai Gwangju' Blueprint, Shinsegae Announces 'Starfield Gwangju' Development
Lotte Also Shows Willingness to Join Complex Shopping Mall Project... Big 3 Retailers' Competition Intensifies

Gwangju Mayor Kang Ki-jung is explaining the direction for attracting a complex shopping mall in Gwangju at the city hall briefing room on the 7th. (Photo by Gwangju City).

[Asia Economy Reporter Kim Yuri] As Gwangju Metropolitan City begins accepting business proposals, the competition among the 'Big 3' retailers?Lotte, Shinsegae, and Hyundai?for building complex shopping malls has intensified.

On the 7th, Gwangju City officially announced the acceptance of business proposals related to complex shopping malls. Mayor Kang Ki-jung of Gwangju emphasized at a press conference held at Gwangju City Hall that the city will operate the 'Complex Shopping Mall New Vitality Administrative Council,' involving relevant city departments and autonomous districts, to support one-stop administrative processing, while transparently disclosing the entire process of attracting complex shopping malls to citizens and the city council.

As a result, the competition for building complex shopping malls in the retail sector is expected to accelerate. Previously, following Hyundai Department Store Group's unveiling of the 'The Hyundai Gwangju' blueprint, Shinsegae Group also announced plans to expand its department store and simultaneously promote 'Starfield Gwangju' alongside the expansion of Gwangju Shinsegae Department Store. Lotte Group has also expressed its intention to participate in the complex shopping mall business.

Shinsegae is pushing to build the first Starfield in the Honam region on the site of Eodeungsan in Gwangju. An investment of approximately 800 billion KRW is expected. Shinsegae Property plans to develop Starfield Gwangju as a stay-type complex shopping mall where shopping, culture, leisure, entertainment, and relaxation can be experienced simultaneously. Plans include more than 300 brands, an urban water park, and experiential sports facilities. Shinsegae selected the Eodeungsan tourist complex on the outskirts of Gwangju as the candidate site, citing the conditions that allow for the creation of various experiential facilities on a large site.

Hyundai Department Store Group is negotiating with Humans Holdings’ 1st PFV, a real estate development company, to open The Hyundai Gwangju, a future-oriented cultural complex mall, on approximately 310,000㎡ (about 90,000 pyeong) of the former Jeonnam Textile and Ilsin Textile factory site in Buk-gu, Gwangju. While upgrading The Hyundai Seoul DNA, they plan to introduce various cultural experience content spaces to The Hyundai Gwangju. The mall will be composed mainly of luxury brands that do not overlap with existing commercial districts, and plans to establish a foundation for mutual growth by supporting traditional markets and small businesses.

Lotte Group is also reviewing various conditions, including the location for the complex shopping mall. A Lotte Department Store official stated, "We plan to review and promote the optimal location that meets the demands and needs of customers, including the large-scale complex shopping mall desired by local residents."

This content was produced with the assistance of AI translation services.