'The Hyundai Gwangju' to Break Ground in November... Aiming to Open in First Half of 2028

Negotiations Needed on Construction Costs Due to Rising Raw Material and Labor Prices
Schedule to Proceed Independently, Unaffected by Mixed-Use Residential Development Delays
First Large-Scale Mixed-Use Cultural Facility in Downtown Gwangju

The groundbreaking ceremony for 'The Hyundai Gwangju,' a major mixed-use shopping mall considered the most pressing issue in the Gwangju region, is expected to be held in November, later than originally planned.

On July 8th, at the Gwangju City Hall Business Room, Gwangju Mayor Kang Kijeong and Hyundai Department Store CEO Jung Jiyoung are taking a commemorative photo at the 'The Hyundai Gwangju Groundbreaking Roadmap Briefing.' Photo by Song Bohyun

According to Hyundai Department Store on the 21st, the construction process for 'The Hyundai Gwangju' will proceed according to the business plan after the groundbreaking ceremony is held in November.

A representative from Hyundai Department Store stated, "The site for 'The Hyundai Gwangju' includes the entire Jeonbang and Ilsin Textile sites, but it is different from the site designated for mixed-use residential and commercial development," adding, "The delay in the mixed-use residential and commercial development will not directly affect the schedule for 'The Hyundai Gwangju.'"

However, he explained, "Due to rising prices of raw materials and labor costs, construction expenses are expected to increase significantly, so it will be necessary to negotiate appropriate construction costs during the contractor selection process," and added, "Considering these factors, we believe the groundbreaking ceremony will be possible around November."

'The Hyundai Gwangju' will have a total floor area of 272,955 square meters and a commercial area of 100,890 square meters, making it 1.45 times larger than 'The Hyundai Seoul.' It is scheduled to be completed by the end of 2027 and open in the first half of 2028, becoming the first large-scale private mixed-use cultural and commercial facility in downtown Gwangju.

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