Ho Nam's First Costco Store in Iksan Confirmed

Iksan City in North Jeolla Province has succeeded in attracting the world's famous warehouse retailer, Costco, marking it as the first in the Ho Nam region. This achievement is poised to lay a foundation for Iksan to rise as a central city in the metropolitan economic zone.

Foundation for Advancing as a Central City in the Metropolitan Economic Zone

On the 26th, Iksan Mayor Jeong Heon-yul announced that the entry of Costco Iksan has been officially confirmed, and that preparations for a grand opening will begin with the start of road construction in August.

The process of attracting Costco was not without its challenges.

There was a risk of the project being abandoned due to a contract termination notice for a location within the Wanggung Logistics Complex; however, through Iksan City's persistent efforts, alternative considerations, and continuous negotiations, the final entry was confirmed.

Expectations for Regional Economic Revitalization

The opening of Costco Iksan is expected to bring significant ripple effects to the local economy, going beyond simply attracting retail facilities.

An influx of millions of visitors annually is anticipated to invigorate local consumption and foster the simultaneous growth of nearby commercial areas.

In particular, it is expected to create quality jobs for both the youth and middle-aged demographics, activate the logistics, transportation, and service industries, and expand collaboration with local businesses, leading to positive changes in the city's overall industrial ecosystem.

Iksan City plans to meticulously analyze the local economic impacts of the large retail facility's entry and establish practical coexistence strategies with local businesses.

Through this, the city aims to realize economic benefits that small business owners and citizens can both feel.

Mayor Jeong stated, "We will continue to strive for systematic investment attraction and the establishment of future-oriented urban infrastructure to create opportunities closer to citizens' lives, broader choices, and a better city."

He added, "I deeply appreciate the citizens who supported us until the end despite challenging circumstances, and all the public officials and stakeholders who worked tirelessly with the conviction that 'we can do it.'"

Image Source: Citizens visiting Costco in Il-san-dong, Goyang City in July 2024 / News1, Jeong Heon-yul, Mayor of Iksan / News1, reference photos for better understanding of the article / gettyimagesbank