Shinsegae Simon Busan outlet head Huh Young-moo, second from left, and Gijang County chief Oh Gyu-seok, third from left, hold a sign to commemorate the former’s donation to the latter amid the virus threat in Busan on May 15. Photo courtesy of Shinsegae Simon

Korea-US joint venture offers helping hands in hard times

Shinsegae Simon, which operates four premium outlets in South Korea, has donated 10 million won to a county of Busan, the country’s southeastern port city.

The Seoul-based joint venture said on May 15 that it made the donation to Gijang County to help people suffering from the novel COVID-19 coronavirus.

We decided to contribute to Gijang Country, which accommodates our outlet store, to help our neighbors at a time when they face hardships due to the lingering pandemic,” a Shinsegae Simon official said.

We have carried out various activities to be a responsible corporate citizen for our neighbors. We will continue to make similar efforts down the road.”

This is not the first time for Shinsegae Simon to make headlines thanks to its good-will activities for regional societies.

Earlier this year, the Gyeonggi Province Assembly honored Shinsegae Simon for supporting the economy of the province, which surrounds the country’s capital city Seoul.

Back then, the provincial parliamentary noted that Shinsegae Simon had created a number of quality jobs at its three premium outlets in Yeoju, Paju, and Siheung in Gyeonggi Province.

Midway through 2005, Shinsegae Group and Simon Property Group joined hands to set up Shinsegae Simon.

The former is the country’s top-tier retail conglomerate, while the latter is the leading commercial real estate company in the United States.

Shinsegae Simon, which is currently headed by CEO Cho Chang-hyun, opened its first outlet in Yeoju near Seoul in 2007. The entity also launched two outlets in Paju and Siheung in 2011 and 2017, respectively.

Shinsegae Simon’s Busan outlet debuted in 2013. Busan is Korea’s second-largest city.