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Shinsegae (Korean: 신세계, KRX: 004170) is a South Korean department store franchise, along with several other businesses, headquartered in Seoul, South Korea. The name Shinsegae literally means "New World" in Korean. Its flagship store in Centum City, Busan, was the world's largest department store at 3,163,000 square feet (293,900 m2), surpassing Macy's flagship Herald Square in New York City in 2009.
|Traded as||KRX: 004170|
|Headquarters||63 Sogong-ro, Jung-gu, Seoul, South Korea|
Kim Eun Myeong
|Revenue||KRW 1,430,6 billion (2011)|
|KRW 213,9 billion (2011)|
|KRW 3,381,9 billion (2011) |
|Total assets||KRW 370 billion (2011) |
|Total equity||KRW 1,910,2 billion (2011)|
Shinsegae was originally part of the Samsung Group chaebol, 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). The chairman Lee Myung-hee is the daughter of Samsung founder Lee Byung-chull and younger sister of the chairman of Samsung Electronics Lee Kun-hee.
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 branch of Mitsukoshi, a Japanese department store franchise; Korea was occupied by the Japanese Empire at the time. 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. The old building is currently used as a luxury shopping venue.
Shinsegae was the first credit card company in South Korea. They issued their own charge card from 1967 to 2000. In 2000, Shinsegae sold their credit card division to KorAm Bank, which was later acquired by Citibank Korea.
- 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 the express bus terminal, flagship store turn-over 1billion USD per year top sales store of Shinsegae
- Yeongdeungpo Store (Building A, Building B & Luxury Hall) (영등포점 A관, B관, 명품관) in Times Square, Yeongdeungpo-gu, Seoul
- Incheon Store (인천점) in Nam-gu, Incheon
- Gyeonggi Store (경기점) in Suji-gu, Yong-in, Gyeonggi-do (Changed its name from Jukjeon Store on October 26, 2009)
- Shinsegae Centum City (신세계 센텀시티) in Centum City, Hae-undae-gu, Busan (the world's largest department store)
- Masan Store (마산점) in Masan-Happo-gu, Changwon, Gyeongsangnam-do
- Gwangju Shinsegae (광주신세계, KRX: 037710) in Seo-gu, Gwangju
- Chungcheong Store (충청점) in Dongnam-gu, Cheon-an, Chungcheongnam-do (Through a management alliance with Arario, owner of Yawoori Department Store, Shinsegae opened this branch in Cheon-an in the building once used as Galleria Cheon-an Store and Yawoori Department Store)
- Uijeongbu Store (의정부점) in Uijeongbu, Gyeonggi-do
- Hanam Store (하남점) in Hanam, Gyeonggi-do
- Gimhae Store (김해점) in Gimhae, Gyeongsangnam-do
- Daegu Shinsegae (대구신세계) in Dongdaegu station, Daegu
Shinsegae launched the Shinsegae Style Market, a smaller shopping mall mainly aimed at young customers, in 2010. Despite its name, the mall is managed by Shinsegae's subsidiary E-Mart.
- Seongnam Style Market in E-Mart Taepyeong branch, Seongnam, Gyeonggi-do
- Daejeon Style Market in E-Mart Daejeon Terminal Complex branch, Dong-gu, Daejeon
- Starfield Hanam shopping mall opened on 9 September 2016, as an indoor theme shopping mall. The 7th largest shopping mall in the world, the top in S. Korea with Megabox cinema, Yeongpoong book store, Shinsegae department store, Zara, H&M, Daiz, top10, Hansem, eletromart, emart traders (warehouse style), indoor water park and etopia food court as anchor tenant. Many luxury brand like Louis Vuitton, Prada,Gucci and Genesis and BMW CARS as well as Ioniq EV are in the shopping mall.
- A fashion mall for youngsters in the building of Mesa, a defunct shopping mall right beside Shinsegae's main store in Jung-gu, Seoul
- Shopping mall at Samsung Town, NW of Seoul new town is under construction
- Boots UK
- Daegu Store (대구점) in Jung-gu, Daegu (opened in 1973 and closed in December 1976)
- Shinsegae Store Banpo (신세계 스토어 반포) in Gangnam-gu, Seoul (opened in 1974 and closed several years later)
- Gyeongju Bomun Store (경주보문점) in Gyeongju, Gyeongsangbuk-do (opened in 1979 and closed several years later)
- Dongbang Plaza Store (동방플라자) in Jung-gu, Seoul (opened in 1982 and closed in 1996)
- Cheonho Store (천호점) in Gangdong-gu, Seoul (closed in 2000, converted into E-Mart Cheonho Store)
- Mia Store (미아점) in Seongbuk-gu, Seoul (closed in 2007, converted into E-Mart Mia Store)
E-Mart (이마트) is a subsidiary of Shinsegae and a large discount store chain founded in South Korea, having stores in China and Korea. Domestically, E-Mart is the biggest discount store chain followed by Home Plus, and Lotte Mart.
In late May 2006, Shinsegae revealed plans to buy all 16 of the Wal-Mart stores in Korea. All of the country's Wal-Mart outlets were re-branded as E-Mart on October 2006. Wal-Mart exited the Korean market soon after.
- Department, 신세계백화점, Shinsegae. "Financial Reporting - shinsegae Department". department.shinsegae.com.
- "Guinness World Records: Department Store".
- Farfan, Barbara (28 December 2018). "What Is the World's Largest Retail Store?". Small Business. Retrieved 17 April 2019.
- "E-Land in talk to sell stores to Tesco South Korea unit". Reuters. 2008-05-14.
- "Elegance rules in Shinsegae's new temple of earthly joy". Korea JoongAng Daily.
- "New Largest Department Store". Guinness World Records. Retrieved 2009-06-29.
- "Busan Mall Gets Guinness Listing as World's Biggest". The Chosun Ilbo. Retrieved 2009-06-28.
- "Shinsegae to Take Over Wal-Mart Korea". Archived from the original on 2007-01-03. Retrieved 2019-10-12.
- allKpop.com Go Hyun-jung still blacklisted from Shinsegae March 2010
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