Shinsegae Chelsea plans to open 2nd outlet mall next year

SEOUL, Nov. 25 (Yonhap) -- Shinsegae Chelsea Co., a joint venture between South
Korea's leading retailer Shinsegae Co. and U.S. shopping mall operator Chelsea
Property Group Inc., plans to launch its second outlet mall in December next
year, the company said Wednesday.
The joint venture will start to build the premium outlet shopping mall on a site
of 86,172 square meters in Paju, north of Seoul, on Friday.
The Paju outlet mall, which will carry some 160 global brands, is expected to
boost the local economy by attracting 4 million shoppers annually and creating
more than 1,000 jobs, it said.
"We expect the Paju mall, along with our premium outlet shopping mall in Yeoju,
will form a commercial power with a stronger grip on the greater Seoul
metropolitan area," Shinsegae Chelsea head Choi Wu-yeol said.
The company, established in 2005, opened its first outlet shopping mall in Yeoju,
about 70 kilometers southeast of Seoul, in June 2007.
jia@yna.co.kr
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