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 Scientists and Engineers Mutual-aid Association (SEMA) will commit about 20 billion won ($18 million) to a fund of Morgan Stanley Energy Partners (MSEP) for co-investment in a US water management firm, according to a local media report. The $4.2&hellip
South Korea’s National Pension Service (NPS), Public Officials Benefit Association (POBA) and Hyundai Marine & Fire Insurance Co. Ltd. are likely to commit $380 million to a blind-pool real estate fund which private equity firm Rockpoint Group is launching to&hellip
(Corrected: New overseas alternative head Young-shin Chung was not promoted from the position of domestic alternative investment head, but moved to the new position. First paragraph was corrected in that regard.) The Korea Teachers’ Pension on April 24 named its domestic&hellip