[Courtesy of Lotte Shopping]

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Lotte Shopping officially began putting its development plans for a multi-complex shopping mall in Sangam-dong, Digital Media City (DMC), Seoul, into action. Once completed, the shopping mall is expected to compete with The Hyundai Seoul for consumers in Seoul’s western region. Situated in Yeouido’s commercial district, The Hyundai Seoul attracts both weekday office workers and weekend leisure visitors.

Lotte Shopping revealed on Monday that it submitted a proposal for changes to the development plan for the Sangam DMC multi-complex shopping mall to the Seoul Mapo District Office on February 29th, 2024. The proposal, which incorporated feedback from Seoul Metropolitan Government and Mapo District, includes expanding shopping and sales facilities to over 57 percent of the total area and significant architectural revisions, including enhancing the design via internationally renowned architects.

Within the industry, names like Norman Foster and Richard Meier, both recipients of the Pritzker Architecture Prize, are being mentioned as potential designers for the new mall. Meier is reportedly tasked with designing Lotte Mall Songdo, which is set to open in 2026.

Lotte Shopping invested 197.2 billion won ($150 million) to acquire a 20,644-square-meter site within the Sangam DMC complex in 2013. This site, located near Digital Media City Station on subway Line 6, was designated by Seoul City in 2011 as a special planning zone for mixed-use cultural and commercial facilities.

Lotte Shopping initially planned to open the mall in 2017 but was unable to break ground for more than a decade because Seoul City refused to grant a license, citing opposition from nearby market merchants, and state auditors issued an audit finding two years later that stated the city had unfairly delayed the project for a long time. The Seoul Metropolitan Government held its first deliberations on the project in 2021 and announced a plan to develop a media and entertainment-oriented business district around DMC and Suseo stations, which included easing development regulations, on March 13th, 2024.

Lotte Shopping plans to commence construction in earnest in 2025 and complete the project by 2028, with the selection of architects expected to be completed in the first half of 2024.

When completed, the multi-complex shopping mall will compete with The Hyundai Seoul. The new mall site is a mere 10 kilometers or so away from The Hyundai Seoul, separated by the Han River. Lotte currently operates two large-scale shopping malls in the western region of Seoul at Yeongdeungpo and Gimpo Airport. Despite the challenges posed by a deteriorating retail environment, Lotte aims to establish the DMC multi-complex mall as a new flagship brand in the Gangseo area.