Hyundai Department Store signed an investment agreement with Hanwha Power Systems, Socialbin, and the city of Busan.
According to related industries on the 25th, the three companies signed a memorandum of understanding with Busan Mayor Park Hyeong-jun for mutual cooperation to build "The Hyundai Busan" and revitalize the local economy at Busan Metropolitan City's corporations investment attraction briefing held at the Conrad Hotel in Yeouido, Seoul, that day.
The three companies plan to invest a total of 759.3 billion won in Busan to create 2,226 new jobs.
Hyundai Department Store will invest 734.6 billion won to build a hybrid (complex-type) complex mall, "The Hyundai Busan," in Eco Delta City, Gangseo District, Busan. The Hyundai Busan, the first project of "The Hyundai 2.0," will have a total floor area of 198,782 square meters and pursue more than 2,000 new hires.
Since first setting up shop in 2023 through Busan's investment attraction, Hanwha Power Systems is moving ahead with a second investment to further expand its "ship solutions business center." With this investment, it plans to pursue more than 160 new hires, totaling 9.1 billion won.
Socialbin, a prospective unicorn corporations in Busan, will invest 15.6 billion won in Busanjin District to build a new headquarters and create 65 new jobs. Socialbin is a lifestyle goods manufacturer based on e-commerce.