This Place Visited by 100 Million People in Just Over 2 Years Since Opening... Expected to Hit 1 Trillion Won in Sales This Year

Established as a Nationwide Hot Place
Significant Increase in Foreign Tourists Aged 20-30
Foreign Sales Growth Rate Approaching 780%

The cumulative number of visitors to The Hyundai Seoul has surpassed 100 million in just 2 years and 6 months. This is the fastest record for reaching 100 million visitors at a single retail facility in South Korea.

According to Hyundai Department Store on the 27th, the cumulative number of visitors to The Hyundai Seoul, which opened on February 26, 2021, has exceeded 100 million (as of August 25). This means that every Korean citizen has visited The Hyundai Seoul twice on average.

Looking at the visitor trends of The Hyundai Seoul, 25 million people visited in its first year of opening in 2021 (February to December), and the number of visitors in 2022, when social distancing measures were lifted, increased by about 1.5 times from the previous year to 44 million. This year, with the endemic fully underway, the number of foreign tourists has increased, and by the 25th, 31 million people visited The Hyundai Seoul, pushing the cumulative visitors over 100 million.

The Hyundai Seoul has shown its status as a ‘nationwide hot place.’ Since its opening, 55% of The Hyundai Seoul’s purchasing customers have been residents outside of Seoul. By region, visitors from Gyeonggi and Incheon, suburbs of Seoul, accounted for 24%, Chungcheong 12.9%, Honam and Yeongnam 13%, and Gangwon and Jeju 4.3%.

Most notably, the sharp increase in purchases by foreign tourists visiting The Hyundai Seoul this year is encouraging. From January to July this year, The Hyundai Seoul’s foreigner sales growth rate compared to the previous year was 779.7%, more than twice the overall average growth rate of Hyundai Department Store during the same period (302.2%). In particular, among foreign purchasing customers at The Hyundai Seoul, 67% are in their 20s and 30s, meaning two out of three foreign buyers belong to the MZ generation.

The Hyundai Seoul is also on the verge of surpassing 1 trillion KRW in sales this year. Following last year’s sales of 950 billion KRW, The Hyundai Seoul is recording an average monthly sales growth rate close to 20% this year, and it is expected to easily achieve 1 trillion KRW in sales by the end of this year. If The Hyundai Seoul reaches 1 trillion KRW in sales, it will hold the title of ‘fastest to reach 1 trillion KRW in sales’ among domestic department stores in just 2 years and 10 months.

Hyundai Department Store plans to continuously attract famous domestic and international brands to The Hyundai Seoul to solidify its image as a ‘Young and Luxury’ leader of global trends. Global influential brands such as Louis Vuitton, opening around the end of this year, Disney Store in September, and Five Guys in October are scheduled to open.

Kim Changseop, manager of The Hyundai Seoul, said, “As a result of opening pop-up stores every other day and quickly introducing trending stores, The Hyundai Seoul is recognized as a barometer of K-content trends not only among domestic but also foreign customers,” adding, “We plan to continuously introduce differentiated content and services to further enhance The Hyundai Seoul’s global status.”

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