Daegu and Dong-gu signed an agreement Friday for the Shinsegae Simon Daegu Premium Outlet project. Pictured from left: Rep. Kang Dae-sik (People Power Party, Dong-gu and Gunwi-gun), Dong-gu District Chief Woo Seong-jin, Daegu Mayor Choo Kyung-ho, Shinsegae Simon CEO Kim Young-seop, Simon Property Group Vice President Uche Acuzuo, and Daegu Urban Development Corporation President Jeong Myeong-seop. [Provided by Daegu City]
Daegu and Dong-gu signed an agreement Friday for the Shinsegae Simon Daegu Premium Outlet project. Pictured from left: Rep. Kang Dae-sik (People Power Party, Dong-gu and Gunwi-gun), Dong-gu District Chief Woo Seong-jin, Daegu Mayor Choo Kyung-ho, Shinsegae Simon CEO Kim Young-seop, Simon Property Group Vice President Uche Acuzuo, and Daegu Urban Development Corporation President Jeong Myeong-seop. [Provided by Daegu City]

A Shinsegae Simon premium outlet project is set to move forward in earnest as the Ansim fuel complex in Daegu's Dong-gu is redeveloped into Ansim New Town.

Daegu City signed a land sale contract and a corporate support MOU on Friday at its Sanggyeok office for the development of a Daegu Premium Outlet, with Shinsegae Simon CEO Kim Young-seop, US-based Simon Property Group, the Daegu Urban Development Corporation and Dong-gu district office all in attendance.

The Ansim New Town site has been transforming into a new residential and lifestyle space since 2015 through the relocation of a coal briquette factory and an urban development project, marking a turning point for Dong-gu — but recruitment of a key retail facility had been delayed.

The land sale contract follows an investment agreement signed in December last year and marks the transition from a concrete business plan to actual investment and execution, securing a practical foundation for the project's implementation.

The deal is expected to accelerate the long-awaited transformation of Ansim New Town into a fully realized eastern new town, while also driving economic growth in the nearby innovation district.

"Drawing on our expertise and know-how in operating premium outlets, we will offer a differentiated space and content lineup and, together with Daegu Shinsegae department store, build a premier shopping destination representing the Daegu and North Gyeongsang Province region," Shinsegae Simon CEO Kim said.

Dong-gu District Chief Woo Seong-jin said the Daegu Shinsegae Premium Outlet "will be a major driver of economic vitality and urban competitiveness for Dong-gu," adding that the district would provide full administrative support through to the outlet's completion.

Daegu Mayor Choo Kyung-ho said the city would be "a steadfast partner to Shinsegae Simon, providing one-stop support across the entire process — from ground-breaking through completion and into operations — so that the Daegu Premium Outlet can be developed into a landmark mixed shopping and cultural destination representing South Korea."


kbj7653@heraldcorp.com