Im Ilsun, Homeplus President's Ambitious Project 'Corners'... First Store Debuts at Asiad Branch

Homeplus announced on the 25th that it has officially launched its first store of the new concept family community mall, 'Corners,' at the Asia-dong branch in Yeonje-gu, Busan. The photo shows the exterior of the Homeplus Asia-dong branch. (Photo by Homeplus)

[Asia Economy Reporter Seungjin Lee] 'Corners,' a core new business of Homeplus CEO Ilsoon Lim, is making its debut.

Homeplus announced on the 25th that it officially launched 'Corners,' a new concept family community mall, as its first store at the Asia-dong branch in Yeonje-gu, Busan.

'Corners' refers to a locally integrated family community mall, a space with a differentiated and independent feel from Homeplus, created directly by local residents as an emotional hotspot.

Until now, unlike other large supermarkets, Homeplus has operated in the form of a neighborhood shopping mall with leased stores such as fashion, cultural centers, kids cafes, bookstores, pharmacies, and laundries occupying a fairly large area since its founding. However, with the recent increase of various complex shopping malls such as outlets in urban and suburban areas, transformation of this space became inevitable.

The name 'Corners' carries the meaning of "a small and special daily life you encounter when you turn the corner in front of your house." Rather than a flashy large brand-centered complex shopping mall, it aims to create a new community space that draws out emotions such as the familiarity of a neighborhood market and the freshness found in every narrow alleyway.

In particular, the strategy is to maximize Homeplus's unique competitiveness by leveraging the strengths of offline distribution in terms of 'experience,' which online shopping or other large supermarkets cannot follow, using various channels.

Corners will feature an indoor and rooftop futsal park for youth soccer clubs and necktie groups, as well as local youth startup brands, flea markets, cultural heritage-linked academies, indigenous craft experience centers, and children's libraries, establishing itself as an emotional hotspot actively created by local residents.

Customers are shopping at 'Corners,' the family community mall at Homeplus Asiad Branch. (Photo by Homeplus)

Corners is a new business that CEO Lim has been planning since shortly after his appointment. At his first press conference in March 2018 after becoming CEO, he expressed his ambition to "restructure the space and content for customer convenience in daily life, encountered when turning the corner."

Since then, CEO Lim has consistently shown strong determination toward the 'Corners' business. At a business strategy press conference last July, he emphasized about 'Corners,' "a market focused solely on convenience has growth limits," adding, "transforming into a place that provides various experiences to customers who constantly pursue value is the winning move for future offline stores."

He also expressed confidence in the 'Corners' business, stating, "By utilizing the largest scale of about 7,000 mall stores nationwide, we will bring the experience of large complex shopping malls, which can only be visited on weekends, into the daily lives of local citizens."

Homeplus evaluated that 'Corners' created at the Asia-dong branch has established itself as the only 'family community mall' in Busan, a complex shopping mall combining a large supermarket and entertainment content, where families can comfortably visit and enjoy.

Having already secured customer attraction through cultural facilities such as a multiplex theater inside the store and the nearby Sajik Baseball Stadium, the influx of young customers is increasing as the move-in of about 8,000 newly supplied apartments in the core commercial area began in earnest last year, which also acts as an opportunity factor.

The tenant brands also include those preferred by each age group from their 20s and 30s to their 50s and 60s, as well as tenants that young children can enjoy together, aiming to continuously provide a shopping space as a 'family community mall' where the whole family can comfortably enjoy together.

Accordingly, Homeplus Asia-dong branch Corners revamped lifestyle shops and living content reflecting the demand of new residents to attract their visits, and strengthened the competitiveness of large anchor tenants such as the theater (CGV), fitness and bowling center (Kolon Sporex), children's play facility (Champion The Blackbelt), and complex cultural bookstore (Arc N Book).

Additionally, existing high-efficiency brands were maintained and improved, and considering nearby competing commercial areas, trendy new MDs such as famous fashion brands, SPA brands, large department stores, and street brands were introduced to attract young customers. Furthermore, various dining (F&B) brands favored by theater, baseball stadium, and soccer stadium visitors were brought in, and entertainment elements to attract family customers were expanded.

Homeplus plans to continue selectively converting additional stores into 'Corners' sequentially according to commercial districts while complying with lease contract periods and the Commercial Building Lease Protection Act.

Ko Young-sun, head of Homeplus Mall Business Division, said, "To offer a special daily life that can be met nearby, we are attracting various experiential contents to 'Corners' and regularly holding diverse cultural performances and events on the third Saturday of every month," adding, "We will create a unique emotional space of Corners that enriches life as well as providing various shopping streets."

This content was produced with the assistance of AI translation services.