What: it’s Seoul’s first department store opening in a decade

Why is it important: Hyundai allocated 49% of the total space to rest areas and indoor garden

The company has opened its new location in Yeouido. With this new location, Hyundai aims to reach KRW 630 billion (USD 560 million) in annual sales and IBK Securities and Investment predicts the store will breakeven in 2023.

The Hyundai Seoul spans 89 100 sqm — around 13 football fields — and was already crowded on its pre-opening date last Thursday, with locals eager to explore the capital’s first department store opening in a decade. Almost half of the space has been allocated to rest and relaxation, including 11 240 sqm of indoor gardens and wider passageways, un unprecedented experience in Korean department stores.

New brands are also onboarding. Nordic fashion and lifestyle brand Arket (which parent company is H&M) launched its very first store in Asia. Bungaejangter, which is Korean’s first second-hand transactions app, also introduced its first physical store, and people lined up to get a look into some of the selected luxury goods displayed in the store.

Designer brands have also entered, such as Gucci, Prada and Burberry. Hermès, Louis Vuitton and Chanel are currently negotiating with Hyundai.

According to Hyundai, the new location carries 90 food options, the largest food outlet of any department store in Korea.

Hyundai Unveils Seoul’s Biggest Department Store 

Seoul’s newest, biggest department store offers new shopping experience

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