Shinsegae Simon begins development of Daegu premium outlet, targeting late 2028 opening

Shinsegae Simon has purchased a site for its Daegu Premium Outlets and is moving ahead with full-scale development. The company plans to build the outlet to a scale comparable to its Siheung Premium Outlets by late 2028, positioning it as a premier shopping destination for the Daegu and North Gyeongsang Province region.

Shinsegae Simon signed a land purchase agreement Friday at Daegu City Hall's Sanggyeok office for a 41,134-square-meter site within the Ansim New Town retail and commercial district. Attending the signing were Shinsegae Simon CEO Kim Young-seop, Simon Property Group Senior Vice President of Development and Finance Uche Achuozo, Daegu Mayor Choo Kyung-ho, Dong-gu District Mayor Woo Sung-jin, and Daegu Urban Development Corporation President Jeong Myeong-seop. The company had signed an MOU on the development in December last year.

The Daegu Premium Outlets will have a retail floor area of approximately 42,900 square meters, on par with the Siheung Premium Outlets in the greater Seoul area. Shinsegae Simon said it will draw on its outlet development and operational expertise and brand strength to deliver a differentiated shopping environment and spatial experience. The target opening is the second half of 2028 at the earliest.

The project marks the first "urban premium outlet" Shinsegae Simon has introduced in a metropolitan city in South Korea. The outlet will combine three hallmarks of a premium outlet experience: an exotic exterior inspired by overseas urban motifs, content reflecting Daegu's local character, and a high-caliber brand lineup. The facility will also incorporate eco-friendly infrastructure and a spatial layout designed to host diverse crowd-drawing programs, positioning it as a "sustainable, future-oriented retail space."

Daegu is the sixth location Shinsegae Simon has chosen for an outlet, following Yeoju, Paju, Busan, Siheung and Jeju. The site benefits from well-developed public transit — including urban rail and bus networks — and strong connectivity to major expressways such as the Gyeongbu, Jungang and Daegu Beltway expressways. The broader Daegu–North Gyeongsang Province catchment area, home to about 5 million people, also provides a substantial base of potential customers.

Shinsegae Simon said it aims to create a mixed-use destination combining shopping, relaxation and leisure, establishing the outlet as a regional hub for both shopping and tourism. The company also intends to contribute to the local economy by expanding hiring of local talent and revitalizing the surrounding commercial district.

Daegu Mayor Choo Kyung-ho said the city would be "a steadfast partner, providing one-stop support at every stage — from groundbreaking through completion and into operations — so that the Daegu Premium Outlets can be developed into a premier mixed shopping and cultural destination representing all of South Korea."

Shinsegae Simon CEO Kim Young-seop said the signing "marks the start of full-scale development of the Daegu Premium Outlets," adding that the company would "leverage our premium outlet operational capabilities and expertise to present differentiated spaces and content, and together with Daegu Shinsegae department store, build a shopping destination that defines the Daegu and North Gyeongsang Province region."