South Korean retail giant Shinsegae Group will build a new multi-purpose Starfield shopping complex, in its domestic capital city, Seoul, by 2027.
Located in Incheon, west of Seoul, the new Starfield complex will boast three basement floors and six above-ground floors, covering a 1.65-million-square-metre plot of land in the Cheongna area.
The new shopping complex will also house a multi-purpose sports complex for sporting games and cultural events, as well as a hotel and an infinity pool.
Shinsegae and the Incheon Free Economic Zone jointly announced the plans for the mall, which will attract more than 25 million visitors domestically and from abroad every year, creating a combined KRW 3.6 trillion won (USD 2.8 billion) worth of economic value, according to a local report.
A Shinsegae official said it plans to use the domed stadium at Starfield as the home stadium for the South Korean baseball team SSG Landers from 2028.
“We will completely change the paradigm of leisure culture through Starfield Cheongna,” said Shinsegae Group vice chairman Chung Yong-jin.
In 2022, retail sales in South Korea grew by 9.2 percent compared to the previous year. Online retail sales recorded about 9.5 percent of the growth that year, while offline retail sales also continued to increase after negative growth rates during the last years, according to Statista.