What: Korean rivals are competing for a new location in Gwangju, south of the country.

Why it is important: While Lotte shies away from the competition, this suggests that there is still room for expansion for physical retail in Korea, one of the most connected markets on the planet.

Hyundai and Shinsegae are competing for a new mixed-use project in Gwangju (south of Korea) which would include a shopping mall, a hotel, a theatre and a park. It would be the first one for Hyundai in the city (where its last location was closed in 2013) and the second one for Shinsegae. Both proposed projects would be of an approximate size of 300,000 sqm.

Hyundai and Shinsegae competing to open a new mall in Gwangju