South Korea’s Hyundai Department Store Group opened a new shopping outlet in one of the busiest shopping and tourist districts in Seoul on Friday, with an aim to raise 162.0 billion won ($134.1 million) in sales this year.
The company said Thursday its gigantic emporium is the biggest of its kinds in Dongdaemun, the core retail and wholesale fashion business district in Seoul and one of the largest commercial zones in the country. About 300,000 people float through the area every day and four subway lines and 60 bus routes pass through it. Hyundai Department Store is targeting to earn 162.0 billion won this year and 200.0 billion won next year from its new Dongdaemun outlet.
Hyundai City Outlet Dongdaemun has in total six floors underground and nine above. And a total of 270 stores including food and beverage counters reside in the mammoth shopping establishment with lifestyle shops occupying three floors from first underground floor to second floor, and clothing, shoes and accessory stores from third to eighth floor. Food and beverage counters and restaurants are located on the second basement level and ninth floor.
It also invited Kyobo Book Centre Co., the nation’s biggest bookstore chain, on the first basement with a library-like atmosphere offering a mega reading table and 200 seats. On the same floor, shoppers can have hands-on experience on Hyundai Home Shopping channel’s best-selling products as well as the first offline store of Korean online deal site Wemakeprice Inc. Hyundai Department Store also plans to run aggressive marketing schemes to lure foreign shoppers with so-called YG Zone, maximizing hallyu or Korean wave, the fever over Korean entertainers and pop culture.
By Cho Sung-ho
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]