Shinsegae is set to open a premium outlet in Shiheung, which will be the largest outlet in the southwestern part of Korea’s metropolitan area. To make visitors feel as if they were travelling in Spain, Shinsegae invested 230 billion won to make the outlet reminiscent of Spain’s coastal village.
Shinsegae Group aims to develop the outlet into the metropolitan area’s flagship landmark by attracting as many as 7 million tourists a year.
The southwestern part of Gyeonggi Province is emerging as a battlefield for shopping outlets as Lotte is also planning to build its own shopping mall in Uiwang within next year, following one it recently opened in Gwangmyeong, another city within the province.
Shinsegae will open its “Shiheung premium outlet” on April 6 that will mark the group's fourth outlet in Korea following ones it built in Yeoju in 2007, Paju, and Busan. With a floor space of 42,000 square meters, the Shiheung premium outlet will have a parking space that's large enough to accommodate 2,7000 cars.
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip
South Korea’s Hanwha Asset Management Co. Ltd. will launch three global funds for infrastructure, real estate and private equity investments, with $1 billion commitments from two insurance units of its parent group. Hanwha Life Insurance Co. Ltd. and Hanwha General&hellip
An investment firm of South Korea’s Samsung Life Insurance Co. Ltd is forming a blind-pool real estate fund worth around 500 billion won ($443 million) with commitments from other Samsung financial units to acquire a building of the Organisation for Economic Co-operation&hellip