Kim Hyung-jong, President of Hyundai Department Store, "This Year, Six Stores Including Apgujeong Main Branch to Be Renovated... Strengthening Competitiveness"

[Asia Economy Reporter Lim Chun-han] Kim Hyung-jong, President of Hyundai Department Store, announced on the 28th, "This year, we plan to renovate six stores including the Apgujeong Main Store, Pangyo Store, and Daegu Store."

At the 20th regular shareholders' meeting held in Gangdong-gu, Seoul, President Kim said, "Despite the rapidly changing market environment, we have focused on strengthening the fundamental competitiveness of offline platforms and creating new customer value by investing in new stores and enhancing the competitiveness of key stores."

President Kim explained, "The Hyundai Seoul, which opened in Yeouido, Seoul in February last year, surpassed 800 billion KRW in sales within one year of opening, achieving the largest sales record for a department store's first year in Korea. Although the duty-free sector continues to face a difficult business environment due to COVID-19, we have enhanced competitiveness by attracting the Chanel boutique to the Incheon Airport store in September last year and are responding swiftly to the business environment of the duty-free market."

President Kim stated, "The board of directors recently resolved to acquire Zinus, a global mattress manufacturer. Through this acquisition, we will expand our department store business portfolio, which has been focused on domestic and offline markets, to global and online markets, securing new future growth engines."

Hyundai Department Store reappointed outside director Ko Bong-chan, a professor of business administration at Seoul National University, and newly appointed Park Joo-young, a professor in the Department of Venture and Small Business at Soongsil University Business School, and Kwon Young-ok, a professor in the Department of Business Administration at Sookmyung Women's University. Chung Ji-sun, Chairman of Hyundai Department Store Group, Kim Hyung-jong, President of Hyundai Department Store, and Jang Ho-jin, Head of the Planning and Coordination Division at Hyundai Department Store, were also reappointed as inside directors.

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