Ikea store planned to open in Daegu by 2025

Ikea's Busan branch, which opened in February 2020 [IKEA]

Ikea, the global Swedish furniture retailer, will open a new store in Daegu by 2025, the city of Daegu announced Thursday.

Ikea will invest 180 billion won ($137 million) to build a new store on a 41,134-square-meter (442,763-square-foot) site in Ansim New Town in Dong District in Daegu, according to the city. The contract for the site will be signed by October this year, and construction will start in the first half of next year.

Employment for the new Ikea store is expected to be around 300. Additionally, the company plans to actively promote cooperation with the region by providing opportunities for local companies and procuring products and services from the nearby area.

Ikea, founded in Sweden in 1943, operates 471 stores in 64 countries, with around 225,000 employees in total. The company entered the Korean market in December 2014 and operates four stores in Gwangmyeong, Goyang, Giheung and Busan.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]