Shinsegae Simon said on the 16th that it signed a memorandum of understanding (MOU) for the development of the tentatively named Daegu Premium Outlet with Daegu Metropolitan City, the Daegu Urban Development Corporation, Dong-gu District Office, and joint venture shareholders Shinsegae and Simon® at the Sanggyeok Government Complex in Daegu.
Shinsegae Simon plans to build a premium outlet in phases with an operating area of about 43,000 square meters (about 13,000 pyeong) on a 41,134-square-meter site designated for retail and commercial facilities within the Ansim New Town area in Yul-am-dong, Dong-gu, Daegu, targeting 2028. About 200 well-known domestic and international brands, including global fashion and food and beverage (F&B) brands, are expected to open stores.
The tentatively named Daegu Premium Outlet is Shinsegae Simon's sixth project after Yeoju, Paju, Busan, Siheung and Jeju. About 3.1 million people live within a 40-kilometer radius of the planned development site. It is easily accessible by public transportation such as subway and bus, and is close to an interchange (IC) connecting to the Gyeongbu, Jungang and Daegu Outer Ring expressways. The plan is to create a shopping center that presents a new space combining the strengths of an urban shopping mall and a suburban premium outlet.
Shinsegae Simon expects the project to create about 1,000 direct and indirect jobs and to help improve the resident population. In addition, it plans to attract domestic and international tourists by positioning the premium outlet as a tourism asset.
Acting Daegu Mayor Kim Jeong-gi said, "By attracting the global retail company Shinsegae Simon to Ansim New Town, where development has been delayed, we will create a landmark that will bring vitality and prosperity to eastern Daegu," and added, "We will spare no administrative and policy support to ensure that a premium, integrated lifestyle and cultural space representing the Republic of Korea can be built as soon as possible."
Shinsegae Simon CEO Kim Young-shub said, "Based on our unrivaled operational know-how that has led the premium outlet industry, we will work to ensure the successful opening of the Daegu Premium Outlet and will prepare high-quality brands and shopping content to establish it as a new shopping landmark for the Daegu–North Gyeongsang region."