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Tag: seoul

  • Used phone chain launches in Seoul subway stations

    Used phone chain launches in Seoul subway stations

    Stores purchasing used cell phones are set to open at Seoul subway stations.

    Seoul Metro, which manages lines No.1 to No.4, says it will open stores that buy used mobile phones at 12 subway stations including Seoul Station, in a bid to stop wasting resources and promote reusing and recycling.

    The new businesses will pay rent to Seoul Metro as well as a commission per phone of at least 7660 won (US$6.50) including VAT. During the contract period of two years, which is the standard agreement period per store, it is expected that 28,800 phones will be purchased.

    Seoul Metro has stipulated the businesses will only be permitted to purchase used phones, and the contract will be invalidated if other forms of business are conducted or the location of the store is changed.

    Clauses forbidding the sale of other items at the store, and limiting the opening hours to within the subway’s hours of operation will be added to the contract.

    However, due to the strict conditions, Seoul Metro is having a hard time attracting investors for the new business.

    Seoul Metro officials emphasised they are starting the venture to strengthen their management efficiency and enhance the convenience of customers. The additional business could be a countermeasure to overcome the organisation’s chronic deficit.

    The selected stations are Dongdaemun Station, Seoul Station, Chungjeongno Station, Sindorim Station, Sillim Station, Seolleung Station, Wangsimni Station, Jongno 3(sam)-ga Station, Oksu Station, Express Bus Terminal Station, Mia Sageori Station and Sadang Station.

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  • Hanwha Galleria to open Seoul downtown duty-free store next week

    Hanwha Galleria to open Seoul downtown duty-free store next week

    Korean department retailer Hanwha Galleria is to partially open its first duty-free store at the 63 City Building in downtown Seoul next week, Hanwha Galleria Duty Free merchandising division representative Ji Su Kim told DFNIonline.

    Kim, was unable to reveal further details, but a YonHap News Agency report indicated Hanwha Galleria plans to open 60% of the proposed space in the gold-tinted skyscraper, one of Seoul’s best known landmarks in Yeouido on December 28. Hanwha Galleria and HDC Shilla Duty Free, a joint-venture between Hotel Shilla and Hyundai Development Co were awarded the main downtown duty-free licences in Seoul by the Korea Customs Service in July following a hotly contested tender.

    The report said the pre-opening would showcase 369 brands, including cosmetics, watches and jewellery with nearly half of them Korean brands. The new duty-free shopping space will be located in the first lower level floor of the main 63 building and floors one to three of the annex building. With a total floor area of 10,072sq m, shoppers will have a  one-stop experience in a modern and comfortable space, according to the company.

    Once the entire store is complete, it is hoped the luxury boutiques and cosmetics stores in the first lower level floor and the watches and jewellery section of the first floor will feature global luxury brands.  The second floor will be filled with Korean cosmetics brands showcasing the best of “K-beauty”. This floor will also feature sections for fashion, accessories, tobacco and liquor. The third floor will be home to “K-Special Hall”, an exclusive concept to Galleria Duty Free. This unites more than 100 of Korea’s top brands and small and medium-sized enterprises.

    Shoppers looking to take a break from shopping can enjoy views of the Han River at “Studio Rue”, a media complex café located on the fourth floor, and browse a selection of Hallyu content products and purchase refreshments.

    Meanwhile, Hanwha Galleria, whose Hanwha Timeworld subsidiary runs the duty-free concession at Jeju International airport, is believed to have made little progress in terms of attracting global luxury brands.

    Hanwha Galleria CEO Hwang Yong-deuk said during a briefing. “Although we want to have luxury brands in the stores they are not yet considering opening new shops, thinking they have enough shops in South Korea.”

    The company added it would continue negotiations to house global brands when the Lotte World Tower store closes this month after the Korean powerhouse lost its licence to travel-retail newcomer Doosan Group.

    It also vowed to continue expanding its duty-free business and revealed it is targeting sales of $429.6m million in the new store next year.

    Stay close to DFNIonline and future editions of DFNI for more on the Hanwha Galleria duty-free expansion project.

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  • Lotte Duty Free in shock Seoul licence loss

    South Korea’s Lotte Duty Free has lost the licence to operate one of its large stores in downtown Seoul.

    Beleaguered Lotte – in the midst of a family feud over its management and on the eve of a planned IPO of its Hotels unit – has been displaced by heavy industries company Doosan Co in the 10,990 sqm store in South Korea’s tallest building – the Lotte World Tower and Mall.

    Lotte has had the licence to run the store for five years and sunk US$255 million into the site.

    “The customs agency decision has shattered its ambitions to grow it into the world’s largest duty-free outlet over the next decade,” reported Japan Today newspaper in Tokyo.

    “The setback was particularly badly timed given the preparations for an initial public offering of shares in Lotte’s hotel unit, which runs the group’s duty-free business.”

    Lotte’s duty free business is a subsidiary of Lotte Hotels, contributing 80 per cent of the operation’s revenues.

    Park Jong-Dae, analyst at Hana Financial Securities, said investors are concerned the loss of the licence will hurt Hotel Lotte’s overall profits.

    “As a result, the company’s valuation may fall when it goes public,” he said.

    Lotte Duty Free’s flagship Myeong-dong store is unaffected.

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  • Seoul soft drink vending machines banned

    Seoul soft drink vending machines banned

    Seoul soft drink vending machines have been banned, causing outrage amongst consumers.

    The Seoul Metropolitan Government has decided to ban the sales of soft drinks at vending machines in public spaces and subway stations.

    But the decision has been derided by Seoulites, many of whom believe the ban restricts freedom of choice.

    ‘Jjamppong’ on Twitter commented: “Soft drinks are not the enemy of health. The stress you get from work is the problem!”

    A user on the portal site Naver criticised the decision as unreasonable, saying “It’s the 21st century, right?”. Other social media posts’ pointed out that based on the logic the government used for the ban – health concerns – “the city should be banning fast food because it causes obesity, too” and “orange juice should be banned because it has more sugar than soft drinks”.

    Seoul city officials explained that they made the decision based on the fact that soft drinks cause obesity, diabetes and osteoporosis, damaging the health of citizens. However, citizens’ reactions indicated that the reason was also difficult to understand.

    One Tweeted: “Koreans don’t even drink soft drinks that much compared to Americans. Was it a necessary measure to take against adults? It would be better to reduce the sugar in canned drinks.”

    Others supported the decision. A Naver user agreed with the ban saying that “all canned beverages and canned foods are polluted with endocrine-disrupting chemicals, and the people who enjoy these products get ill when they’re old. We don’t starve even if we don’t eat these foods. Seoul is doing a good thing.”

    User ‘Umhahahahaha’ at the portal site Daum agreed with the policy but added: “Other countries have that policy. It’s a good thing we are finally banning soft drinks from public places. But I think they should start banning them at schools or wherever there are many children instead of public places.”

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  • The Macallan pop up tours Asian cities

    The Macallan pop up tours Asian cities

    A 465 sqm pop up store promoting Macallan single malt whisky is touring major Asian cities.

    Designed by agency Fitch, the unique pop up is by day a shopping and exhibition area, open to any walk-in customers. In the evening, the space is transformed into a bar offering reserved tasting sessions. Guests have the opportunity to enjoy The Macallan, talk with whisky experts, and connect with like-minded connoisseurs.

    After a month inside Shanghai’s Jing An Kerry Centre, the pop up moves to Taipei’s Dunhua South Rd on October 21 for a month, and then on to Seoul and Singapore.

    Fitch says the pop up is designed to take guests “on a journey of discovery with The Macallan, through a highly interactive and sensorial experience”.

    Macallan’s regional brand director, Coral Gill, says the Toast The Macallan pop up is a regional consumer engagement program that serves as a distinctive platform for The Macallan to reach and connect with more consumers.

    “Toast the Macallan is into its second year in the region and this event in Shanghai was the first time this exclusive event was run for 30 days, allowing even more consumers to engage and share the experience with the brand.”

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  • Burberry Seoul flagship opens

    Burberry Seoul flagship opens

    British luxury fashion brand Burberry has opened its first Korean flagship store in Cheongdam-dong, Seoul where the flagship stores of foreign brands are gathered in one place.

    The 13 story Burberry Seoul flagship store comprises 13 storeys, two underground and 11 above. The exterior of the store is inspired by gabardine, the plaid textile used to make the brand’s iconic trench coats.

    The construction of the Seoul flagship store was overseen by Christopher Bailey, the CEO and chief creative officer of Burberry.

    Burberry Seoul inside

    With Burberry opening its first flagship store in Korea, interest is building over foreign brands and their flagship stores located in the Cheongdam area. In the early 2000s, flagship stores were simply thought of as ‘large scale stores’. However, flagship stores have since become more important, as they are currently thought of as symbols that represent the influence and image of a brand.

    In addition, the elevated status of Korea in the Asian market is another reason foreign brands are devoting themselves to building flagship stores in the Cheongdam area.

    Dior opened the largest flagship store in Cheongdam in June, and other brands including Chanel and Cartier will also open new stores or move to the Cheongdam area.

    “Not only the Korean market, but also the Korean consumers who buy products from a brand are considered important [to these brands],” explained an industry spokesman in Seoul.

    “Flagship stores will play a large role in the Korean market, letting the heritage of a brand be known.”

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  • The Starbucks Community Store in Daehakro neighborhood in Seoul, Korea celebrates one-year …

    The Starbucks Community Store in Daehakro neighborhood in Seoul, Korea celebrates one-year …

    The Starbucks Community Store in the Daehakro neighborhood in Seoul, Korea, commemorated its one-year anniversary (October 7, 2015) with a community service project, a donation and free brewed coffee and rice cakes for 365 customers as a token of gratitude.
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    The Starbucks Community Store in Daehakro, like the Langsuan Neighborhood Starbucks in Bangkok, plays a role in supporting education, job training and apprenticeship initiatives by working directly with non-profit organizations to offer local services. In the United States, Starbucks will soon open similar stores that partner with local nonprofit organizations to provide skills training for opportunity youth in underserved, low-income communities in Ferguson, Chicago, Queens, Phoenix and Milwaukee.

    A social hub in the education and arts district of Seoul, the Daehakro coffeehouse hosts workshops and seminars and monthly volunteer activities called “green care” dedicated to improving the environment. The store’s design reflects its vibrant neighborhood. “Community Store messaging can be found throughout the location and it’s a conversation piece that engages customers with store partners,” said Yena Cho, who has been focused on the operation since she joined Starbucks two years ago.

    An art-wall collage, created by university students, and a digital community board that showcases corporate social responsibility efforts are among the distinctive touches that align the store with its surroundings. Also on display is a 3D coffee mug wall that represents students from the Starbucks Comprehensive Youth Leadership Program.

    Yena, who is a global communications manager at Starbucks Korea, said the first year of operation for the Daehakro Starbucks passed by quickly, aided by a flurry of activity around the store, a positive reception by the community and significant media interest.

    Since its opening last October, the equivalent of 30 cents U.S. from each item purchased in Korea’s Community Store has benefited the Green Umbrella ChildFund Korea to support lifelong skills development for youth through the Starbucks Comprehensive Youth Leadership Program. A donation of $100,000 U.S. accumulated from a portion of sales over the past year was presented to Green Umbrella ChildFund Korea at the anniversary celebration. The program offers academic scholarships through graduation for a curriculum that focuses on business skills, collaborative communications and social consciousness.

    Starbucks Korea, which is the company’s fourth largest market outside the U.S., and the Green Umbrella ChildFund Korea maintain an ongoing alliance to address the nation’s social and community needs with an emphasis on assisting young people seeking work. Korean tuition costs are among the world’s highest, creating roadblocks to higher education for the nation’s disadvantaged.

    “Being a relevant part of the community we serve in is an important part of who we are,” said S.K. Lee, ceo and president of Starbucks Coffee Korea. “Our Community Store is a telling example of our commitment to building a different kind of company in Korea that is performance driven through the lens of humanity.”

    The focus on finding jobs for youth is an extension of Starbucks global commitment to hiring Opportunity Youth — those between the ages of 16 and 24 who aren’t in school and aren’t working.  The 100,000 Opportunities Initiative, a coalition of 33 leading U.S. companies including Starbucks, is America’s largest employer-led private sector coalition committed to creating pathways to employment for young people. The businesses will host the next Opportunity Hiring Fair in Phoenix on Oct. 30.

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  • Is Seoul Asia’s new fashion window?

    Is Seoul Asia’s new fashion window?

    Move over Hong Kong, Tokyo and Singapore. Seoul is emerging as Asia’s new fashion showcase, with the world’s top luxury firms seeking to cash in on the regional trend-setting popularity of South Korean pop culture.

    Fast-growing Asia is a key market driving the global luxury industry, with purchases by Chinese consumers accounting for one third of global sales, according to market researcher Bain & Company.

    And those consumers often take their style pointers from elsewhere, which is why many brand companies are increasingly focusing on the country described by Bain as Asia’s “trendsetter and influencer for fashion and luxury”.

    Over the past year, leading global fashion houses have upped their game in South Korea in a bid to reach those well-heeled Asians who take their fashion cues from popular Korean TV and pop stars.

    French powerhouse Chanel held its 2015/16 Cruise Collection in Seoul in May — its first show in South Korea.

    And in June, Christian Dior opened a six-storey flagship store — the largest in Asia — in the upscale district of Gangnam, made famous by the eponymous hit by South Korean rapper Psy.

    The world’s top luxury group LVMH, which owns Dior and Louis Vuitton, has gone a step further by directly investing in Seoul’s thriving K-pop industry.

    Last August, L Capital Asia — the investment fund arm of LVMH — bought shares worth about $80 million in YG Entertainment, a major K-pop agency.

    The deal made the French luxury empire the second-largest shareholder of YG, whose roster of K-pop acts includes Psy, G-Dragon and the boyband BigBang.

    “Global luxury firms have begun to realise that what’s popular in South Korea soon becomes popular across Asia,” said Lie Sang-Bong, a prominent fashion designer and head of the Council of Fashion Designers of Korea. Lie said luxury brands that had previously favoured Hong Kong or Singapore as the centre of their Asia business started to turn to Seoul about three years ago.

    China’s influence as a trendsetter will eventually catch-up with its importance as a market, but for now “Seoul is where they look to see the next big trend,” Lie said.

    Famed fashion critic Suzy Menkes picked Seoul as next year’s host for what will be only the second edition of the annual Conde Nast International Luxury Conference.

    “I think that (luxury brands) are thinking of this country as a hub, this city in particular as a hub, where people will go and buy things,” Menkes, the international fashion editor for Vogue, said during a visit to Seoul in July.

    The real attraction for the brand names is the promotional reach into the rest of Asia and beyond provided by the so-called Hallyu (Korean Wave) of Korean TV shows and pop music.

    The power of the Hallyu phenomenon was most recently demonstrated by the 2014 hit TV drama “My Love from Another Star” which was enormously popular in China.

    A pair of $625 Jimmy Choo shoes worn by the show’s heroine, Jun Ji-Hyun, sold out in shoe stores across Asia, while an Yves Saint Laurent lipstick she was rumoured to be wearing experienced a similar run in China.

    Rapper G-Dragon — a style icon followed by millions of fans across Asia and beyond on social media — is considered a poster child of the Hallyu boom.

    His favourite items, from Yves Saint Laurent jackets to Christian Louboutin sneakers, earn instant recognition among his followers and are discussed on dozens of websites dedicated to the styles of K-pop artists.

    Now the 27-year-old has become a front-row fashion show fixture, not just in Asian cities, but also Paris and London.

    Korean TV dramas have also proved to be a striking marketing device for the cosmetics industry, according to a May report by market researcher Euromonitor. Beauty products featured in top-rated shows or favoured by their stars fuel “rocketing demand for the relevant colour cosmetics and skin care products” in other Asian countries, especially China, the report said.

    And it isn’t only foreign brands that are benefiting from exposure in the South Korean shop window.

    A “cushion-compact” — a sponge soaked with liquid foundation — developed by AmorePacific has proved a major hit in Asia, prompting Dior to form a strategic partnership with the Korean cosmetics giant to use the “cushion” technology.

    Kate Ahn, Seoul representative of the British consumer research firm Stylus, said South Korea had effectively become a “springboard” for luxury brands to test consumer sentiment in the Asian market.

    “It’s a small country but a perfect starting point to tap into the Chinese market and beyond,” Ahn said, adding she had been bombarded with proposals from European and US firms hoping to invest in Seoul cosmetics makers in recent years.

    “They even want to invest in relatively small, little-known cosmetics firms … because they know many Asian women, especially Chinese, are closely watching beauty trends in Seoul,” she said.

  • Korea set to woo back Chinese tourists

    Korea set to woo back Chinese tourists

    South Korea’s retail and tourism industries are preparing a slew of promotional and cultural events to woo back Chinese tourists during a long-haul holiday season, pinning their hopes on making up for a summer slump in the wake of a viral respiratory illness, sources say.

    Since the first outbreak in late May, Middle East Respiratory Syndrome (MERS) made a big dent on domestic spending as foreign tourists canceled their planned trips during the peak summer season, while South Koreans avoided shopping centers and other crowded places in June and July.

    While the viral disease hit the tourism and retail industry hard, Chinese tourists have started to return to the once-empty streets of Myeongdong, one of the capital’s most popular shopping districts, over the past month.

    The number of Chinese travellers has increasingly recovered to the previous year’s level since late August and marked an on-year rise since mid-September, the state-run Korea Tourism Organization (KTO) said.

    About 303,000 tourists with Chinese nationality entered the nation in the first two weeks of September, rising 4.8 per cent compared with the same period a year ago, it said.

    “The number of Chinese travelers has sharply risen this month, and the number is expected to completely recover during the Chinese holiday season,” Han Hwa-joon, who oversees the KTO’s Shanghai branch, said. “The recovery pace is faster than expected.”

    Chinese Thanksgiving falls on September 26-27, and together with the Chinese National Holiday running from October 1-7, the holiday season can be extended up to 12 days.

    As the Chinese holiday season draws near, major shopping centers and duty-free operators are making all-out efforts to draw Chinese tourists to make up for a shortfall in sales amid dormant domestic spending.

    According to the KTO, 164,000 Chinese travelers visited the nation during last year’s autumn holiday season and spent 2.4 million won on average, which amounts to about 400 billion won (US$341.5 million) in total.

    During this year’s Chinese National Holiday, the tourism agency expected some 210,000 Chinese will visit the nation, up 30 per cent from a year ago, considering the pace of growth over the past three years.

    “We will host a variety of events even after the Chinese holiday to make up for the fall in tourists during the peak season from June to August,” said Seo Young-chung, a KTO official in charge of Chinese tourism.

    Lotte Department Store plans to host a variety of promotional events targeting Chinese travelers during the golden weeks, providing discounts on payments made through UnionPay, China’s largest credit card issuer, and Alipay, China’s No. 1 mobile payment application.

    Shinsegae, the nation’s leading department chain, said it will give special discounts to Chinese customers, while Hyundai Department Store also started the regular sale season earlier than usual to attract the deep-pocketed travelers.

    Operators of duty-free shops have also stepped up efforts to bring back Chinese travelers, the largest consumer group, which accounted for about 70 per cent of downtown duty-free spending last year, up from around 15 per cent in 2011.

    Lotte Duty Free, the world’s fourth-largest duty-free operator, held a travel fair in Shanghai on September 9, in which senior company officials reached out to Chinese tourism officials to attract Chinese travelers.

    Hotel Shilla, part of Samsung Group and the world’s No. 6 duty-free operator, also presented various sales promotions and tour packages during the fair along with other Samsung units, with the attendance of senior officials.

    “The Korean tourism industry has mostly recovered after the Mers outbreak came under control, and it will make a full recovery in September,” Hotel Shilla CEO Lee Bu-jin told reporters during her visit to Shanghai.

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  • Shinsegae joins race for duty-free shop in Seoul

    Shinsegae joins race for duty-free shop in Seoul

    Shinsegae said it will apply for the highly competitive bid as three duty-free operating licenses are set to expire within the year. The deadline is set for Friday and the Korea Customs Service will announce the result in November.

    Currently, Lotte Duty Free, the nation’s No. 1 operator, has two stores in Myeongdong, a major shopping district, and the affluent Gangnam region, and SK Networks Co., a trading and hotel unit under SK Group, has a store in the Sheraton Grand Walkerhill Hotel in the southeastern part of the capital.

    Separately, Shinsegae will renew its operating license for Paradise Duty Free in the southern port city of Busan as its current license also expires in December.

    “We will propose a multi-complex shopping mall in Myeongdong, the nation’s No. 1 tourist attraction,” said Sung Young-mok, who is in charge of Shinsegae’s duty free business. “For Busan, we will relocate the duty-free shop to Shinsegae Centum City to recreate it as Busan’s tourism icon.”

    It is the second bid this year after Shinsegae applied for a new license in May, proposing to renovate its landmark outlet in Myeongdong. The building, established in 1930, was home to the country’s first department store.

    If it wins the bid, the retail giant will be opening its first duty-free store in downtown Seoul.

    The bid is seen as a major opportunity for local retailers who are in search of new cash cows amid lackluster domestic demand. Duty-free stores have emerged as one of the most lucrative retail channels in tandem with a sharp influx of deep-pocketed shoppers from China.

    Last year, the six duty-free stores across the capital, mostly dominated by Lotte, posted combined sales of 4.4 trillion won (US$4 billion). Sales by a Lotte Duty Free branch in the Myeongdong area accounted for a whopping 45 percent of the total.

     

  • 7-Eleven Smart Convenience Store

    7-Eleven Smart Convenience Store

    Customers of a 7-Eleven convenience store in South Korea can literally go dancing in the aisles…

    The new 7-Eleven Smart Convenience Store allows customers to enjoy virtual reality based on IT technologies. On the second floor of its Chinese Embassy store in Seoul’s Myeongdong, 7-Eleven placed six smart tables where customers can enjoy web surfing, gaming and watching Youtube videos in partnership with SK Telecom.

    Among the six tables, one features virtual reality technology. If a customer pushes a button saying “Together with Hyeri” (a member of K-pop girl group Girl’s Day), he or she will appear on a wide screen in the floor standing together with Hyeri, a spokesmodel for 7-Eleven.

    Customers can dance with Hyeri, and even take photos with the idol star. The photos will be forwarded directly to the customer’s smartphone.

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  • S.Korea picks Hotel Shilla JV, Hanwha to operate new Seoul duty-free stores

    S.Korea picks Hotel Shilla JV, Hanwha to operate new Seoul duty-free stores

    South Korean retail giants HDC Shilla Duty Free and Hanwha Galleria Timeworld on Friday clinched a high-profile bid to operate duty-free stores in downtown Seoul in what is seen as a golden ticket to bolstering their footing in a retail industry struggling from anemic consumer spending.

    Seven companies had vied for the license, the first of its kind open to large corporations in 15 years. Lotte Duty Free, HDC Shilla Duty Free, a joint venture between Hotel Shilla and Hyundai Development Co., and SK Networks were aiming to increase their market share, while E-land, Hanwha Galleria Timeworld, Hyundai DF and Shinsegae DF were trying to make a fresh entrance into the duty-free sector.

    Currently, four companies run seven duty-free stores in Seoul, whose main customers are foreign tourists, especially those from China. Their insatiable appetite for shopping has been a rare bright spot in the local retail sector grappling with sagging sales amid a weak economy.

    Buoyed by their spending, the duty-free market has been posting double-digit growth in the past five years, compared with crawling sales growth at department stores and hypermarkets.

    In 2014, duty-free stores in Seoul posted a combined sales of 4.4 trillion won (US$3.9 billion), which accounts for more than half of the country’s 8.3 trillion won duty-free market.

    Meanwhile, the customs agency also announced two smaller retailers who will be operating duty-free stores in Seoul and Jeju, South Korea’s southernmost resort island, respectively.

    The new licenses will be valid for five years under a revised customs regulation that shortened the contract period from 10 years. The winning bidders are required to open their stores within six months.

     

     

     

  • Dior Seoul flagship opens doorways

    Dior Seoul flagship opens doorways

    Luxurious style label Dior has opened a shocking flagship retailer in South Korea’s capital which we assure is like nothing you’ve seen anyplace on the planet ever earlier than…

    Designed by Christian de Portzamparc, the six storey Dior Seoul retailer contains a curvaceous white exterior barely harking back to an enormous enamel tooth.

    And inside is “a wealth of surprises” as Dior places it.

    In a decor made from wooden, lacquers, leathers, superb weaves and progressive melanges to excite the senses, inside designer Peter Marino has chosen to welcome guests with a suspended sculpture by Korean artist Lee Bul. The staircase is conceived as an unfurling ribbon that guides buyers to the ladies’s ready-to-wear collections, leather-based items, footwear, jewelry, watches and perfumes.

    But in addition to the Dior Homme area, and to an artwork gallery with a personal salon the place work by Marc Polidori, amongst others, are on present.

    The highest flooring is residence to the Café Dior by Pierre Hermé. “This new, full-sized location completely evokes the historical past of the Home in probably the most modern of visions,” says Dior.

    The Dior Seoul flagship, which opened on Saturday (June 20), is situated on a nook website within the Gangnam-gu district. It’s open every single day from 11am-8pm.

  • Shinsegae opens big mall

    Shinsegae opens big mall

    Korea’s Shinsegae Group is about to open an enormous purchasing centre northwest of Seoul which it hopes will take the battle to Ikea for homewares buying.

    Shinsegae, one of many nation’s largest division retailer operators, will open E-Mart City on June 18, on a website adjoining to the Kintex conference centre in Ilsan, within the Gyeonggi province.

    The corporate is banking on Seoul residents heading out to the centre for a day’s buying, eating and leisure – a serious drawcard being carparking, which shoppers should queue for in downtown locations.

    E-Mart City, stated to be the dimensions of about 10 soccer fields, will inventory furnishings, house home equipment, homewares, groceries and meals. It can function an E-Mart grocery store and a wholesale warehouse.

    Shinsegae believes three branded retail areas will create some extent of distinction from its rivals: an upmarket foodcourt referred to as Peacock Kitchen that includes 14 meals manufacturers and seating for 300 individuals; residence furnishing retailer The Life providing some 5000 merchandise; and multi-brand equipment retailer Electro Mart.

    “We’ve got put all our assets into the mall as a way to set a brand new development in retail enterprise,” stated Shinsegae vice chairman Chung Yong-jin in a press release.

    “The E-Mart City is a cluster of trend-setting shops and good eating places. Individuals will be capable of have a high-quality one-stop purchasing expertise within the city.”

    Ilan is about to be a battlefield for main retailers, with Ikea planning to open its second Korea retailer there in 2017, and Shinsegae’s rivals Lotte, Tesco Residence Plus, Lotte Massive Market, Costco and Hyundai Division Retailer all inside a brief drive.

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  • Koreans plan ‘Asian Broadway’ in Seoul

    Koreans plan ‘Asian Broadway’ in Seoul

    SK Networks, which proposed utilizing the Cerestar constructing for a brand new duty-free store, plans to develop the Dongdaemun space into an Asian Broadway.

    The retail arm of SK Group, the third largest family-run conglomerate in Korea, already proposed investing 450 billion to 550 billion gained (US$460 to 496 million) in its bid for operation rights to a brand new duty-free store, and as a part of the bid, 200 to 300 billion gained can be invested to assemble infrastructure for trend, tourism and tradition within the area.

    SK plans to take a position 100 to 200 billion gained in infrastructure for a cultural city in collaboration with the Seoul Metropolitan Authorities’s Dongdaemun improvement challenge, which goals to advertise the style, tradition and tourism sectors. As well as, it should supply 10 billion gained to create the most important Media Façade at Dongdaemun Design Plaza.

    SK will pour a further 60 billion gained right into a small enterprise partnership fund to help Seoul’s “Manufacture Seoul” challenge and the Seoul Design Basis’s apprenticeship coaching for style and needlework. It’ll supply a complete of 30 billion gained to revitalise conventional markets in Dongdaemun.

    SK Networks, which operates the Walkerhill duty-free store in northeastern Seoul, will supply conventional market coupons to its duty-free store clients to assist small retailers within the markets.

    As soon as it good points its duty-free store operation license at Dongdaemun, it expects that the world will welcome a further three.three million vacationers per yr and create 33,000 new jobs, leading to three.four trillion gained value of financial advantages by 2020.

    An official at SK Networks stated: “We’ll type a mutual progress system by way of long run funding for the revitalization of the Dongdaemun space. We’ll lead the event of the area as an ‘Asian Broadway’ tradition city by mixing style, tradition and purchasing collectively.”