Shinsegae Property to Develop 'Grand Starfield Gwangju'

Proposal Submitted for Construction in Gwangju Metropolitan City
Developed as a Stay-Type Complex Space
22.7 Trillion Won Economic Ripple Effect

Perspective view of 'Grand Starfield Gwangju'. (Photo by Shinsegae Property)

[Asia Economy Reporter Lim Chunhan] Shinsegae Property announced on the 29th that it is promoting the construction of a ‘future-oriented complex lifestyle center’ beyond a complex shopping mall in Gwangju Metropolitan City, something never seen before in the world.

Shinsegae Property submitted a proposal the day before for the construction of Grand Starfield Gwangju with a total floor area of 536,900㎡ (about 160,000 pyeong) on a 417,531㎡ (about 126,000 pyeong) site on Eodeungsan Mountain in the western part of Gwangju Metropolitan City. The plan is to develop the Eodeungsan site, which has excellent accessibility to the entire Gwangju area and neighboring cities, into a stay-type complex space that combines infrastructure for leisure, recreation, and culture of overwhelming scale, a new content unique to Gwangju, beyond shopping and entertainment.

While the existing Starfield focused on one-day malling centered on shopping and entertainment, Grand Starfield Gwangju aims for a staycation where visitors can stay for more than two nights and three days. Through facilities such as Starfield and resorts, and the creation of tourism routes linked to the entire Honam region, the plan is to develop it as a national representative landmark that encompasses not only Gwangju and the Honam region but the entire Republic of Korea.

To develop the Eodeungsan site as a space optimized for the Gwangju area, Shinsegae Property analyzed about 18 million social big data records over the past three years. Based on these results, it proposes five lifestyle spaces: ‘Lifestyle Oasis,’ ‘Peaceful Paradise,’ ‘Art Terrace Garden,’ ‘Active Jungle,’ and ‘Community Park.’

Shinsegae Property is expected to contribute to regional economic development with an economic ripple effect of 22.7 trillion won, including attracting 30 million visitors annually, expanding local tax revenue through the establishment of a local corporation for Starfield Gwangju, and inducing employment of 36,000 people including prioritizing local residents for hiring. In addition, it plans to actively implement win-win measures such as establishing a win-win governance system and community-based programs to contribute to the development and growth of the local community.

Lim Young-rok, CEO of Shinsegae Property, said, “To provide value beyond the complex shopping mall, which has been a long-standing wish of Gwangju citizens, we will concentrate the distribution capabilities and know-how accumulated through the development and operation of Starfield to present ‘Grand Starfield Gwangju,’ a future-oriented complex lifestyle center that surpasses the existing Starfield, offering a rich lifestyle unique to Gwangju.” He added, “We will lead the creation of Gwangju Metropolitan City, a place everyone wants to visit, by presenting a new shopping experience and future lifestyle never imagined before, nurturing it as a representative landmark of the Republic of Korea beyond Gwangju and Honam.”

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