The world's largest furniture store chain IKEA is planning a store in Godeok-dong, Gangdong, eastern Seoul in 2017, the third in the country and the first in Seoul city limits.

The Gangdong district office on Sunday said it is in negotiation with IKEA to open the 13,000 sq.m store in the commercial complex in Godeok-dong.

IKEA proposed the idea last year. One industry insider said, "It seems that IKEA plans to open around 10 stores in Korea given how fast they're buying up land across the country."