What: Shinsegae still sees opportunities for new real estate programs in Korea.

Why it is important: The Korean market is already very developed and the country has embraced new technologies, including Metaverse, far beyond other ones in the region, however there is still space for a new mall.

Shinsegae Group, a South Korean retail giant, plans to build an integrated Starfield shopping complex in Incheon by 2027. The complex will span 1.65 million square meters and include a multi-purpose dome for sports and cultural events, a hotel, and an infinity pool.

Shinsegae expects the complex to attract over 25 million visitors annually and generate US$2.8 billion in economic value. The dome will also serve as the home stadium for the South Korean baseball team SSG Landers starting in 2028.

Shinsegae to build a new mall in Incheon by 2027