SEOUL, KOREA - Asia's largest Busan Lotte Premium Outlet will be built in the East Busan Tourism City in Gijang County, Busan. Lotte Shopping held a groundbreaking ceremony on February 10 at the site and set to work on the project. The total construction cost for the project on a 200,000-square-meter would be about 424.7 billion won.

 

 

The outlet will consist of a four-story premium outlet building, a 17,000-square-meter shopping promenade, a 9,000-square-meter discount store, and a six-theater multiplex facility. It will also have a parking space capable of holding 4,000 vehicles. The premium outlet will host as many as 500 brands from overseas and home.

 

Once the shopping district is open by next year, the city officials expected, it would have a positive effect on the regional economy while creating a lot of jobs. The number of foreign tourists from China and Japan will rise to about 300,000.

 

Lotte Shopping president Shin Heon said, "Our company wants to make the Busan Premium Outlet as a landmark representing the Tourism City and the whole city of Busan while contributing meaningfully to the regional economy."