The SM Town COEX Atium, which opened in January 2015, was a popular tourist spot for K-POP fans at home and abroad as a cultural complex where you can see a variety of contents related to SM artists such as cafes, museums, theaters, and shops.
Talk of shutting down the COEX Atium began last July.
The reason for the closure is that the high rent and the deficit of each business continued.
The sentence “See you again in your new form” stands out at the end of the announcement.
COEX Asia is planning to move SM Town to Changwon, Gyeongsangnam-do, which is a four-hour drive from Seoul.
SM Town Masaharu Illustration]
SM Town Changwon, which will become a new landmark for K-POP, has 4 basement floors and 10 floors above ground.
It’s twice the size of the Starfield COEX mall.
SM Town Changwon Photo
An interactive Hallyu studio has been set up on the first to third floors, allowing fans to experience the reality of K-pop recording, makeup and filming.
There is also an artist goods shop.
The fourth and fifth floors will be used to house a holographic theater similar to the SM Town COEX archetype.
The theater will be able to screen concerts as well as performances with holograms and special effects that are the same size as the artist’s height.
The sixth and seventh floors are home to convention facilities, dining areas, and performance spaces.
Finally, the top 8~10 floors of the building will be used as a hotel, providing fans with the experience of staying in the same space as their favorite idols.
When it opens in 2020, Changwon SM Town is expected to generate 5 billion yen in economic benefits, create 34,000 jobs, and attract more than 300,000 tourists a year.
The newspaper articles were full of positive news, but I wonder how many tourists will come to Changwon SM Town, which is a 4-hour drive from Seoul, and whether there is any merit in having fans come this far.
The private operator completed the new construction of SM Town, which began in May 2017, and submitted an application for use approval to Changwon City on 29th of last month.
However, due to the difficult negotiations between Changwon City and private businesses, including the donation of alleged preferential treatment in administrative procedures and the creation of a management plan, there is a high possibility that the building will not be open for a certain period of time after its completion.