Suncheon City Welcomes Site Contract Signing for "Costco Suncheon Branch"

Costco Korea and Seonwol High Park Valley Sign Site Contract on April 29

Targeting 2028 Opening... 102 Billion Won Investment and 250 New Jobs

Transportation Improvements, Administrative Support, and Mutual Growth Plans with Small Businesses

The city of Suncheon, South Jeolla Province, expressed its welcome as the site contract for the Costco Suncheon branch, which will be established in the Seonwol District of Haeryong-myeon, has been finalized.

Costco Korea Co., Ltd. (hereinafter referred to as "Costco") signed a sales contract on April 29 with Seonwol High Park Valley, the project developer of the Seonwol District in Haeryong-myeon, at the Costco headquarters in Gwangmyeong, for the site of the Suncheon branch (845 Seonwol-ri, Haeryong-myeon, among others).

Site of Costco Suncheon store in Sunwol district, Haeryong-myeon, Suncheon. Provided by Suncheon City

Following the investment agreement signed last September with South Jeolla Province, Suncheon City, and the Gwangyang Bay Area Free Economic Zone Authority, Costco has now finalized the site contract. The company plans to proceed rapidly with the aim of opening in 2028, going through building permits and other necessary procedures.

In response, Suncheon City has formed a "Regional Coexistence Council" led by the Deputy Mayor to devise measures for mutual growth with small business owners. The city is also establishing comprehensive traffic improvement measures for the Sindae and Seonwol districts, and has secured a total of approximately 220 billion won, including national funds, to improve eight locations, such as interchanges and internal roads, thereby drastically enhancing transportation conditions.

The city expects that the Costco Suncheon branch, which will be the first Costco location in Gwangju and South Jeolla, will not only expand local consumption but also absorb consumer demand from neighboring cities, establishing itself as an economic hub for the entire southern coastal region.

A city official stated, "We welcome the signing of this site contract by Costco," and added, "We will actively support the relevant administrative procedures so that the Costco Suncheon branch can open as planned."

Meanwhile, Costco plans to invest a total of 102 billion won to develop the Suncheon branch on a 46,000-square-meter site in the Seonwol District of Haeryong-myeon, and is expected to hire approximately 250 employees.

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