May 02, 2024
Retail & Consumer
Korea logs 100 department stores
[THE INVESTOR] The total number of department stores in South Korea reached 100 last year, industry watchers said on Nov. 25.
The number is set to increase to 103 by the end of this year. Shinsegae Department Store has opened or is opening new outlets in Hanam south of Seoul, Gimhae on the southeastern coast, and in the southeastern city of Daegu.
South Korea’s first department store opened in Seoul in 1930.
Lotte Department store operates 33 outlets, followed by Hyundai Department Store with 15, Shinsegae Department Store with 12, and Galleria Department Store with five.
South Korea’s department store market had showed robust growth until early 2010 but remained stagnant in recent years mainly on the back of expanded online stores.
(theinvestor@heraldcorp.com)
The number is set to increase to 103 by the end of this year. Shinsegae Department Store has opened or is opening new outlets in Hanam south of Seoul, Gimhae on the southeastern coast, and in the southeastern city of Daegu.
South Korea’s first department store opened in Seoul in 1930.
Lotte Department store operates 33 outlets, followed by Hyundai Department Store with 15, Shinsegae Department Store with 12, and Galleria Department Store with five.
South Korea’s department store market had showed robust growth until early 2010 but remained stagnant in recent years mainly on the back of expanded online stores.
(theinvestor@heraldcorp.com)
