By KHT Staff
KAOHSIUNG — The President Group (大統集團) on Sunday confirmed that its Wufu Store (大統五福店) will cease operations after its land lease expires, marking the end of a long-running commercial landmark in central Kaohsiung.
The group said the store, which traces its history back to President Department Store’s original opening in 1975, will end business on Feb. 28, the final day of extended contracts with tenant brands. Demolition of the current low-rise structure is expected to begin in early March, after which the site will be returned to an empty lot in accordance with lease terms.
Responding to speculation that the land may be sold, the Group said it has no plans to sell either the land or the buildings. Instead, the company said it is leaning toward attracting new tenants and potentially redeveloping the site to expand its operating space as part of a new commercial concept.
The Wufu site has undergone multiple transformations, including a major rebuild after a devastating fire in 1995 and another renovation in 2006 aimed at reviving the surrounding business district. In recent years, the owners said foot traffic at the site had rebounded by roughly 30 percent, driven by Kaohsiung’s concert economy, Asia New Bay Area development, and increased activity around Central Park.
President Group said the closure marks the end of one chapter but not the group’s presence in Kaohsiung, adding that it will continue retail and commercial development projects elsewhere in the city.
