Citizens visit Costco in Ilsandong-gu, Goyang City. /Courtesy of News1

The Iksan location will become the first Costco in the Honam region, with construction starting in August in Wanggung-myeon, Iksan, North Jeolla Province.

Iksan Mayor Jeong Heon-yul said at a press conference on the 26th marking the third anniversary of the 8th popularly elected term, “The entry of Costco into Iksan has been finally confirmed, and we will begin full preparations for opening, starting with road construction in August.” The city expects that the store will be able to start operations as early as 2027 after a construction period of about one year.

Previously, Costco Korea and a private corporation, Iksan Wanggung Logistics Complex, signed a conditional entry contract for a site of 50,000 square meters (about 15,125 pyeong) within the logistics complex in 2021; however, they terminated it in January 2023. At that time, Costco notified of the termination due to disruptions in administrative procedures and site development.

In response, the city proposed an alternative site of 37,000 square meters (about 11,193 pyeong) in Wanggung-myeon to Costco last May and again signed a memorandum of understanding (MOU) for investment to open the store.

The city anticipates that once Costco opens in Iksan, millions of annual visitors will flow into the region not only from the province but also from Jeonnam and Gwangju. Additionally, it forecasted positive changes across the industrial ecosystem, including the creation of quality jobs for youth and middle-aged individuals, revitalization of logistics, transportation, and service industries, and expansion of collaboration with local corporations.

The city plans to conduct thorough preliminary impact analyses to ensure that the entry of large retail facilities positively affects the local economy and to prepare practical coexistence strategies with local commercial areas, including small business owners.

Mayor Jeong said, “This will be a catalyst for Iksan to leap into the center city of the metropolitan economic zone beyond simply attracting retail facilities,” and expressed gratitude to the citizens, city staff, and Costco officials who supported through challenging circumstances.