Shinsegae: Korea’s version of SM Mall of Asia

Shinsegae: Korea’s version of SM Mall of Asia

Shinsegae (Korean: 신세계) is a South Korean department store franchise, along with several other businesses, headquartering in Seoul, South Korea. The name of Shinsegae literally means "New World" in Korean. Its flagship store in Centum City, Busan, is the world's largest department store, surpassing the Macy's department store in New York City in 2009.

Shinsegae was originally part of Samsung Group, separated in the 1990s from the Samsung Group along with CJ Group (Food/Chemicals/Entertainment), Saehan Group (Electronic Media/Apparel/Textiles), and the Hansol Group (Paper/Telecom). It owns the brands Shinsegae and E-Mart, and is in direct competition with Lotte Shopping and Hyundai Department Store Group. Currently it is the largest retailer in South Korea.

Shinsegae is also famous for its long history. The main branch of Shinsegae is the oldest department store in Korea. The main building of the store was opened in 1930 as the Gyeongseong (Keijo in Japanese, colonial name of Seoul) branch of Mitsukoshi, a Japanese department store franchise. The store was acquired in 1945 by the late founder of Samsung group, Lee Byung-chull, and renamed Donghwa Department Store. After the Korean War (1950–1953) began, it was used for several years as a post exchange by the American army. In 1963, the store was given the name Shinsegae.^[3] The old building is currently used as a luxury hall.

Stores

§  Main Store (Main Building & New Building) (본점 본관, 신관) in Jung-gu, Seoul

§  Gangnam Store (Main Building & New Building) (강남점 본관, 신관) in Seocho-gu, Seoul

§  Yeongdeungpo Store (Building A, Building B & Luxury Hall) (영등포점 A관, B관, 명품관) in Yeongdeungpo-gu, Seoul

§  Incheon Store (인천점) in Nam-gu, Incheon

§  Gyeonggi Store (경기점) in Suji-gu, Yong-in, Gyeonggi-do (Jukjeon Store converted its name into Gyeonggi Store on October 26, 2009.)

§  Shinsegae Centum City (신세계 센텀시티) in Hae-undae-gu, Busan (the world's largest department store)^[4][5]

§  Masan Store (마산점) in Masan-Happo-gu, Changwon, Gyeongsangnam-do

§  Gwangju Shinsegae (광주신세계) in Seo-gu, Gwangju

§  Chungcheong Store (충청점) in Dongnam-gu, Cheon-an, Chungcheongnam-do (Through a management alliace with Arario, owner of Yawoori Department Store, Shinsegae opened this branch in Cheon-an in the building once used asGalleria Cheon-an Store and Yawoori Department Store)