Simon Property Group, a real estate investment trust known for its premier shopping destinations, has proudly announced the grand opening of the expanded and renovated Busan Premium Outlets in South Korea. This exciting expansion marks a significant investment in the South Korean retail landscape, offering shoppers an enhanced and elevated shopping experience.
The revitalized Busan Premium Outlets now boasts nearly 555,000 square feet of retail space, showcasing a diverse selection of over 270 luxury and premium brands. This expansion has added a considerable number of new retailers, giving shoppers even more options to explore. A highlight of the expansion is the introduction of the Nike Unite Store, spanning nearly 19,000 square feet, making it the largest Nike store in the region. The store offers a comprehensive selection of Nike products and apparel, making it a must-visit for sports enthusiasts and fashion-forward shoppers alike.
The expansion also incorporates a variety of amenities designed to enhance the overall shopping experience. Visitors can enjoy ample gathering and green spaces, including an “Adventure Forest” play area inspired by overseas resorts, perfect for families with children. There are also 28 food and beverage concepts to choose from, including Shake Shack – the first outlet location in South Korea. This expansion further enhances the shopping experience by introducing a dedicated 53,000 square foot zone showcasing twenty-five premium golf brands, catering to the growing popularity of the sport in South Korea. The Premium Golf House offers a range of experiences, including a golf academy, simulator, mini golf area, and a custom fitting shop, providing a complete golf experience.
In addition to the expanded retail offerings, Busan Premium Outlets has also invested in new amenities, including an expanded parking lot, new electric vehicle charging stations, and a chic, stylishly furnished lounge with refreshments, beverages, and premium customer service for VIP shoppers. This exclusive lounge also features a dedicated VIP parking area, offering a premium experience for valued customers.
Mark Silvestri, President of Development at Simon, highlighted the company’s commitment to delivering world-class shopping experiences. He stated, “Across our global portfolio, Simon continues to strategically reinvest in our centers to deliver the world-class shopping, dining, and amenities desired by today’s discerning consumer. With 100 new retailers, elevated spaces, and new amenities at Busan Premium Outlets, we have significantly enhanced our shoppers’ experience from the moment they arrive.”
The relaunch of Busan Premium Outlets is a testament to Simon’s dedication to developing and redeveloping its properties to cater to the evolving needs of consumers. This expansion follows the recent opening of Tulsa Premium Outlets in Tulsa, Oklahoma, and the anticipated 2025 opening of the new Jakarta Premium Outlets in Indonesia. Simon is also currently undertaking significant redevelopment programs at other prominent properties, such as The Galleria in Houston, Southdale Center in Edina, Minnesota, Fashion Valley in San Diego, and The Fashion Mall at Keystone in Indianapolis.
Busan Premium Outlets is a joint venture between Shinsegae Group and Simon. Shinsegae Group, a leading retail company in Korea, operates department stores, marts, premium outlets, and shopping malls. They are committed to providing exceptional shopping experiences for their customers and continuously strive to deliver the true value they desire while fostering a rational shopping culture. Their unwavering commitment to adapting to the evolving needs of their customers has made Shinsegae a trusted and beloved name in the industry.
