The Busan Shinsegae Company has announced a plan to build what it claims will be Asia's largest shopping complex in downtown Busan ? complete with an off airport duty free shop. President Koo Hak-su told
a press conference recently that the complex will comprise nearly 19 acres of land with 115 acres of total floor space and will include residential units and entertainment facilities.
He said that in 2006 the company will invest more than W.1trillion ($963m) on the site which is referred to as the Shinsegae Centum City Urban Entertainment Center.
The company says that the first phase of construction is scheduled to be complete by 2008 and will include a department store and a duty free shop, plus a cinema, a theatre, a food court and a golf driving range. The rest of the complex is scheduled to be open for business by 2011. The company already operates several department stores in Korea.
Asia & Pacific,