The Hyundai Seoul, must-visit place for young foreigners

Korea Economic Daily LogoKorea Economic Daily2 mo ago

The Hyundai Seoul, must-visit place for young foreigners - Korea Economic Daily

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The Hyundai Seoul attracted young customers not only locals but also foreigners with pop-up stores of K-pop stars while selling famous brands for youngsters.“The Hyundai Seoul became Korea’s landmark with out-of-box-thinking in terms of a department store as a shopping place by presenting a new paradigm,” said Hyundai Department Store CEO Chung Ji Young.“The world-class space creation capability and efforts to discover novel content contributed to the achievement of topping sales of 1 trillion won in the shortest period.”SURGING SALES TO FOREIGNERSThe Hyundai Seoul opened on Feb.26, 2021, enjoyed an 891.7% jump in sales to foreigners in the first 11 months of 2023 from a year earlier, although it is located in Yeouido, Seoul’s main finance and investment banking district, not in Myeong-dong, the most famous spot for international tourists in the metropolitan.

The Hyundai Seoul, the largest department store in the South Korean capital, topped the 1 trillion won mark in annual sales at the fastest pace in the industry by attracting young foreigners with global K-pop stars.

The strategy helped the Hyundai Seoul deal with the sluggish sales of high-end fashion items amid a slowdown in Asia’s fourth-largest economy.The mall reported a 113.2% growth in sales of fashion products this year, compared to its first year.

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Category: Economy



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Published On: 2023-12-04 @ 16:02:22 (2 months ago)

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Language: English

Article Length: 444 words

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News ID: 18998424

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