Shinsegae
| Shinsegae | |
|---|---|
 |
|
| Korean name | |
| Hangul | 신세계 |
| Hanja | 新世界 |
| Revised Romanization | Sinsegye |
| McCune–Reischauer | Sinsegye |
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.[1]
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.[2]
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. 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.
Contents |
[edit] 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 as Galleria Cheon-an Store and Yawoori Department Store)
[edit] Planned
- Uijeongbu Store (의정부점) in Uijeongbu, Gyeonggi-do (scheduled for 2012)
- A fashion mall for youngsters in the building of Mesa, a defunct shopping mall right beside Shinsegae's main store in Jung-gu, Seoul
- Daegu Store (대구점) in Dong-gu, Daegu (scheduled for 2014)
- Hanam Store (하남점) in Hanam, Gyeonggi-do
[edit] Defunct
- Daegu Store (대구점) in Jung-gu, Daegu (opened in 1973 and closed in December, 1976)
- Dongbang Plaza Store (동방플라자) in Jung-gu, Seoul (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)
[edit] Discount store
E-Mart (이마트) is a subsidiary of Shinsegae and a large discount store chain founded in South Korea, having numerous stores in China and Korea. Domestically, E-Mart is the biggest discount store chain followed by Home Plus, owned by Samsung and Tesco, and Lotte Mart.
In late May 2006, Shinsegae revealed plans to buy all 16 of the Wal-Mart Stores in Korea.[6] All of the country's Wal-Mart outlets were re-branded as E-Mart on October, 2006 and Wal-Mart exited the Korean market soon after.
[edit] Subsidiary
- Shinsegae I&C
- Shinsegae Construction
- Shinsegae Food System
- Shinsegae International
- Westin Chosun Hotel
[edit] Controversy
Shinsegae has banned any commercial images of actress Ko Hyun Jung (고현정) from their department stores, following her divorce from vice chairman and co-CEO Chung Yong Jin.[7]
[edit] See also
[edit] References
- ^ http://community.guinnessworldrecords.com/_Largest-Department-Store/blog/411871/7691.html
- ^ "E-Land in talk to sell stores to Tesco South Korea unit". Reuters. 2008-05-14. http://uk.reuters.com/article/idUKSEO28008020080514.
- ^ http://joongangdaily.joins.com/article/view.asp?aid=2872819
- ^ "New Largest Department Store". Guinness World Records. http://community.guinnessworldrecords.com/_Largest-Department-Store/blog/411871/7691.html. Retrieved 2009-06-29.
- ^ "Busan Mall Gets Guinness Listing as World's Biggest". The Chosun Ilbo. http://english.chosun.com/site/data/html_dir/2009/06/26/2009062600718.html. Retrieved 2009-06-28.
- ^ http://english.chosun.com/w21data/html/news/200605/200605220019.html
- ^ http://www.allkpop.com/2010/03/go-hyun-jung-still-blacklisted-from-shinsegae-department-store
[edit] External links
- Shinsegae Homepage
- Shinsegae E-Mart Homepage
- Shinsegae to take over Wal-Mart in Korea
- Shinsegae : Official Seoul City Tourism
