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Tag: Shinsegae Duty Free

  • Shinsegae Duty Free Unveils Stunning Renovation of 11th Floor at Myeongdong Flagship Store

    Shinsegae Duty Free Unveils Stunning Renovation of 11th Floor at Myeongdong Flagship Store

    Shinsegae Duty Free has unveiled a revitalized 11th floor at its flagship Myeongdong store, highlighting South Korea’s vibrant culture and its appeal to global travelers. This extensive renovation has culminated in an impressive collection of over 100 carefully selected brands spanning food, fashion, liquor, K-pop, and character merchandise.

    A Culinary Adventure: The Taste of Shinsegae

    At the heart of the floor lies the “Taste of Shinsegae,” a new zone devoted to showcasing the best of Korean snacks, desserts, health supplements, and regional delicacies. It’s a culinary adventure that promises more than just shopping; it’s a flavor festival!

    Shoppers can explore four distinct sections: the Dessert Zone, where trendy treats like ‘Bricksand’ financier cookies and vegan ‘Grains Cookie’ take center stage; the Pop-Up Zone, which highlights the latest buzz-worthy brands from areas like Hongdae and Seongsu including Mannadang yakgwa and Super Matcha goodies; the Food Market Zone, brimming with favorites like Samcheongdong Egg Rolls and Bibigo meals; and the Wellness Zone, featuring esteemed supplements from brands like Red Ginseng and GNC. Enthusiasts of fine spirits will find excitement in the liquor section, with rare whiskeys and engaging tasting events.

    Fashion Forward with Exclusive Offerings

    The fashion segment has not been overlooked, introducing unique boutiques from renowned labels such as GUESS and Mmlg, alongside streetwear from National Geographic and Acme de la vie, expanding on the impressive array available on the 9th floor.

    Interactive Experiences at the Space of BTS

    Notably, the ‘Space of BTS’ has relocated to the 11th floor and has been upgraded with fresh merchandise and interactive experiences celebrating the solo endeavors of each member. A dedicated gift zone features popular Korean character brands like Kakao Friends and Zanmang Loopy, making it a delightful stop for fans and gift-seekers alike.

    Shinsegae reports a remarkable 40% surge in food category sales during the first half of 2025, a trend attributed to growing international interest in Korean cultural products and a resurgence in global travel. It seems that the world can’t get enough of Korean flavors and fashion!

    Questions & Answers

    What notable new feature is included in Shinsegae’s revamped 11th floor?
    The standout feature is the “Taste of Shinsegae,” which focuses on Korean snacks, desserts, health supplements, and regional specialties.

    How has the food category sales performed for Shinsegae in 2025?
    Shinsegae has reported a significant 40% increase in food category sales, driven by heightened global interest in Korean products and a recovery in international travel.

    What unique shopping experiences can visitors expect on the 11th floor?
    Visitors can enjoy various curated sections including trendy desserts, rotating pop-up brands, a comprehensive wellness zone, and an upgraded ‘Space of BTS’ featuring interactive content.

  • Shinesegae targets US$90 million with a new brand

    Shinesegae targets US$90 million with a new brand

    Major South Korean travel retailer Shinsegae Group is set to launch an in-house developed cosmetics line, Yunjac, into the duty free channel at its Myeong-dong store in the capital city, Seoul. An ambitious sales target has been set for the brand. The opening on 2 February of an independent Yunjac cosmetics area adds to existing domestic market locations in Jung-gu and Gangnam in Seoul, and Centrum City in Busan. The brand was launched in October 2018.

    Fashion, beauty and lifestyle specialist, Shinsegae International, which developed the 42-strong product line, has told The Moodie Davitt Report that it aims to make US$90 million in sales by 2020. Four travel retail exclusive sets are part of the product range.

    The duty free exposure will promote Yunjac to a wider audience, with a particular focus on Chinese travellers. A Shinsegae Duty Free spokesman said: “The Myeong-dong store is a trendy shopping place where you can easily experience the world’s most popular brands. We will try our best to be the centre of world beauty. The line is targeting the global market including China.”

    Yunjac, which means ‘nature’s masterpiece’, is chiefly built around skincare with some makeup and other smaller segments, also part of the portfolio. It is the result of several years research and preparation by Shinsegae International. The product development was a joint effort with global cosmetics maker Intercos and world-renowned botanical research institute Vitalab.

    The manufacturing process involves extracting active ingredients from the best Korean herbs and combining them with state-of-the-art science. The end result is what Shinsegae describes as “the whole plant effect” which is claimed to restores the skin’s natural strength.

    Yunjac’s 42 products are priced at around US$30 for cleansing products, US$100 for skincare and US$50 for mother and infant items, according to Shinsegae Duty Free.

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  • Victorious Shinsegae Duty Free unveils bold vision for new Central City store

    Victorious Shinsegae Duty Free unveils bold vision for new Central City store

    Buoyed by yesterday’s success in the dramatic contest for three new downtown duty free licences in Seoul, Shinsegae Duty Free today outlined ambitious plans for its new 13,350sq m store in Central City in the Seoch-gu area of Gangnam.

    As reported globally by The Moodie Davitt Report within minutes of the Korea Customs Service announcement, Shinsegae Duty Free won one of the three five-year licences on offer, along with Lotte Duty Free (gaining a welcome return to its Lotte World Tower store) and sector newcomer Hyundai Department Store. SK Networks (WalkerHill Duty Free) and HDC Shilla (Shilla IPark duty free) missed out.

    Central City is Korea’s largest multi-cultural leisure and entertainment space, featuring the Shinsegae Department Store, a hotel, restaurants, cinema and book stores, all offering what the retailer called a “seamless, one-stop shopping experience”.

    Shinsegae Duty Free CEO Young-mok Sung said: “With the opening of the Central City outlet, Shinsegae Duty Free will be able to provide foreign tourists with unique experiences and contents, including gourmet, shopping, culture and lifestyle offers through various tourism programs and infrastructure.”

    He pledged that Shinsegae Duty Free will promote and develop Korean tourism through free independent travellers (FIT) and strive to “catch the hearts” of foreign tourists.

    Shinsegae Duty Free said it will foster tourism in the southern Seoul area by integrating its general retail and duty free operations.

    The department store and – increasingly over recent years – duty free powerhouse announced that it would invest KW350 billion (US$295 million) over the next five years to improve and promote tourism and shopping infrastructure in the Seocho and Gangnam area surrounding Central City.

    The investment plan features several ambitious developments, including the creation of a 4.6km long ‘Arts Street’ connecting tourist attractions such as the Seoul Arts Center and Sebitseom (a cultural complex on the Han River that consists of three artificial islands).

    Shinsegae also intends to improve the walkways of the popular musical instrument village and develop a guide map for it. Additionally, the company will create a pedestrian walkway within the popular Seoripul Park’s multicultural spaces.

    The company said it will also drive local tourism by creating Hallyu [Korean wave] cultural clusters and building a Korea Tourism Promotion Center to provide national tourism information.

    In line with these plans, Shinsegae Duty Free plans to develop various tourism programmes, including a ‘Premium Gourmet Festival’ that will offer premium restaurant dining experiences at reasonable prices.

    A ‘Medical Tour’ programme will promote the country’s important medical tourism sector, offering consultation and interpretation services, supported by a local tour offer called ‘Korea from end to end’.

    CENTRAL CITY – A ONE-STOP SHOPPING EXPERIENCE

    Shinsegae Duty Free said it selected Central City as the best location for the new store in order to champion local tourism, diversify the travel offer and attract more FIT visitors.

    Shinsegae Duty Free promises to “catch the hearts” of tourists at Central City, described as Korea’s largest multi-cultural leisure and entertainment space

    According to a 2015 survey by Korea Tourism Organization, the number of foreign tourists visiting the area around Central City has increased by +19% annually since 2012. FITs made up 88.6 % of the 2015 total – some 21 percentage points higher than the number of independent travellers visiting Seoul (67.7%).

    Many Chinese independent travellers do not see a Seoul trip as complete without visiting the Seocho and Gangnam areas, Shinsegae said.

    That local popularity has been reflected at Shinsegae Gangnam Department Store (which completed a renewal and expansion in August), where sales to Chinese tourists have increased by almost +200% this year over 2015.

    Gangnam style: Shinsegae Department Store is a hugely popular tourist attraction in the busy shopping district

    Underlining Shinsegae’s description of a “one-stop shopping experience”, Central City is conveniently connected to major public transportation links within Seoul and nation-wide.

    The area boasts 33 city bus and express bus services, as well as the Express Bus Terminal subway station. Gyeongbu and Honam Express Bus Terminal, Seoul’s largest transportation infrastructure used by 40 million people annually, is also located in Central City.

    Shinsegae Duty Free has secured parking spaces that can accommodate 3,600 vehicles and 59 buses. Bus stops will be connected directly to the duty free store to provide maximum shopper convenience.

    Major cultural and art spaces are concentrated around Central City, including over 50 eco-friendly travel spots. The area is the centre of the MICE [meetings, incentives, conventions, and exhibitions] industry and holds around 20 local community festivals annually.

    Additionally, major tourism spots such as Seorae Village, Apgujeong-dong and Itaewon can be easily reached, while various cultural, dining, beauty and medical facilities are also concentrated in the area.

    Shinsegae Duty Free has pledged to promote tourism by signing partnerships with major organisations in Seocho and Gangnam, including Seocho-Gu Office [the local Mayor’s office], Seoul Arts Center, Catholic Sung-Mo hospital and leading restaurants.

    In its proposal to Korea Customs Service, Shinsegae Duty Free forecast that if its new duty free outlet attracts some 8.3 million tourists – representing a +88% boost in visitors to the area over 2015 – tourism spend would be boosted by KW7.5 trillion (US$632 million) over the next five years.

    HELPING KOREA’S SMALL AND MEDIUM ENTERPRISES

    Shinsegae Duty Free has pledged to champion small-to-medium sized (SMEs) producers. It will dedicate 39% of its store to SME wares and introduce various related brands and concepts which retain Shinsegae’s ‘DNA’ such as the ‘Shinsegae Gift Shop’.

    Shinsegae Duty Free’s Myeong-dong store features a magnificent array of Korean artisan products. The retailer plans to also champion local producers at its new shop.

    The retailer will also open a store for new designers’ brands to identify and promote new talent and support local creators.
    Shinsegae Duty Free emphasised that it honoured similar cultural and tourism pledges it made as part of the company’s 2015 bid for its inaugural Seoul downtown licence.

    For example, it opened a Hallyu cultural performance theatre called ‘Boys24 Hall’ in September and ‘Han Soo’, a craftsmanship section, in December.

    As revealed by The Moodie Davitt Report, Fountain Square improvement work and the promised Namdaemun Market revitalisation are also well underway as long-term project. Additionally, a Design Innovation Center, which discovers talented new designers and provides job opportunities, is scheduled to open in the first half of 2017.

    Shinsegae Duty Free is driving the revitalisation of Namdaemun Market, a major tourist attraction.

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  • Shinsegae support for handcraft market

    Shinsegae support for handcraft market

    Shinsegae Duty Free has launched Han Soo, an open space where visitors can experience and buy Korean traditional handcrafted items, at Mesa Building mall in Seoul’s shopping district of Myeongdong.

    The 1016 sqm store displays products made by dozens of artisans, including 15 government-certified craftspeople.Works span from simple pottery to furniture, including traditional items integrated with modern elements.

    shinsegae-duty-free-han-soo-2

    Officials expect Han Soo to become an important venue for foreigners wanting to experience Korean traditions and goods. It will offer not only the craftworks, but also introduce the raw materials used to produce them. There will also be special exhibitions.

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  • Korean downtown duty free licence system under review

    Korean downtown duty free licence system under review

     

    In news that rocked the Korean travel-retail and duty-free world last November, Lotte Duty Free and Walkerhill Duty Free lost major downtown licenses to Shinsegae Duty Free and Doosan Group respectively, following a ground-breaking decision by the Korea Customs Service (KCS). But could they be granted a reprieve following a public hearing this week which discussed ways of easing regulations?

    The KCS’ decision to float key licenses—Lotte flagship and Lotte Tower stores, Walkerhill Duty Free’s downtown Seoul shop and Shinsegae’s Duty Free Busan operation—was in line with new regulations introduced in 2013. This meant contracts would expire after five years instead of the previous 10 and competition for licences would be encouraged at national level.

    The new regulations and KCS’ decision to rob Lotte of its invaluable World Tower Licence and SK Networks (Walkerhill Duty Free) of its flagship downtown duty-free operation it had operated for more than 25 years — DFNIonline understands both stores continue to trade until their futures are resolved once and for all— prompted strong criticism in Korea. It was widely believed such developments would hinder long-term investment and perhaps undermine global competitiveness of the country’s duty-free industry.

    During Wednesday’s hearing, The Korea Herald revealed officials proposed the issue of more licenses for duty-free shops in Seoul and return of 10-year expiration terms – previous terms were for five years. According to the publication, under the new proposals, the government could grant more duty-free licensees if the portion of foreigners and money spent at local duty-free shops exceeded 50% over the previous year. It could also do so if foreign visitors increased more than 300,000 in each municipality.

    While the Korean government believes the proposed new measures would make the local duty-free market more attractive compared to competition elsewhere and promote the tourist industry, the new operators do not share the same view. They believe they would only succeed in instigating “excessive rivalry” in a currently saturated market and re-invigorate Lotte and Shilla, which would not do them any favours. DFNIonline understands and appreciates both perspectives but the reality is that changes must be made for the sake of the industry.

    Quoting data released by the Seoul City government, indicating visitor numbers in the capital dropped 10.6 million last year from 11.4 million the year before, the Korean Herald report said: “The number of foreigners entering Korea via Incheon International airport and Gimpo airport also tumbled 5.9% and 11% respectively.

    ”The Korea Herald suggests the likes of Doosan Group, the heavy industry conglomerate, which confirmed to DFNIonline it is due to open its first store at the Doosan Tower in Dongdaemun in May and Shinsegae Duty Free, which already opened its new downtown store in March, believe the government has been “misled” by exaggerated tourism numbers.

    It also quoted an industry insider who commented: “New duty-free operators are set to invest K1.07trn ($896m) and hire 14,200 workers. But if we are going to have more operators even before setting the businesses, this would kill the entire duty-free market.”

    Lotte and Walkerhill Duty Free, however, refuted these claims, indicating the winners had previously urged the government to introduce more operators in the market, only to change their position once securing the licenses.

    Speaking to DFNIonline in December 2015 Lotte Duty Free marketing division managing director Bo Joon Kim said: “The reason why the duty-free market in Korea can be the world’s best is the constant investment and tremendous effort to attract foreign tourists to Korea.

    “However, if the operator changes every five years, the instability of the investment will not only hinder long-term investment, but create increased competition, which will eventually curtail service.”

    Kim also said a repeated change of operators would harm the global competitiveness of tourism in Korea and the duty-free market – Lotte Duty Free directly attracted 1.55 million foreign tourists to Korea in 2014 equating to 10.9% of the total number, he said.

    If local media reports are to be believed, the Finance Ministry will finalise the plan on duty-free operations this month. Do Lotte and Walkerhill really believe they will be granted new duty-free licences and is there a realistic chance these proposals will be implemented? Time will tell, but one thing is certain. Something has to be done.

     

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  • Shinsegae Group in massive expansion plan

    Shinsegae Group in massive expansion plan

    Shinsegae Group says it will invest 4.1 trillion won ($3.4 billion) this year and hire 14,400 new staff to expand its retail business and revitalise the “sagging domestic economy”.

    “The overall retail sector has been struggling to deal with continued sluggish domestic consumption,” a Shinsegae Group official said. “But we decided to invest more and hire more workers to find new growth engines and help inject vigor into the stagnant domestic market.”

    Shinsegae, Korea’s largest retail group, will open 10 shopping centres across the country in 2016, including the massive Hanam Union Square southeast of Seoul, built on a 117,000 sqm site and employing 5000 staff. That project is worth 1 trillion won alone,  (US$832 million).

    The company’s discount arm E-Mart, is building a logistics centre in Gimpo, in the Gyeonggi province, to support an expanded online business as it ramps up competition with rivals including Coupang. It also plans to increase the size of many of its existing stores as well as opening new shops in Vietnam and other Southeast asian markets.

    Three new Shinsegae department stores will open their doors – in Hanam, Gimhae (in South Gyeongsang Province) and in Daegu. Stores in southern Seoul and downtown Busan will be expanded.

    And the company’s Shinsegae Duty Free operation is putting the finishing touches on an upmarket duty free store inside its downtown Seoul department store. That shop is scheduled to open in May.

    “Business conditions at home and abroad have largely been unfavorable for us,” said Shinsegae Group vice chairman Chung Yong-jin.

    “We expect to bear fruits this year from our investments in multipurpose shopping centers, duty free shops and department stores. We will continue to invest and hire workers as a leading retailer to help bolster the domestic economy,” he said.

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