Korean duty free: A special report Look out in coming weeks for Martin Moodie’s profile of Hyundai Duty Free, including an interview with Managing Director Yuk Woo Seok. It is part of a comprehensive on location round-up from the world’s biggest duty free market, which also includes interviews with: • Lotte Duty Free CEO Kap Lee |
SOUTH KOREA. JHP Design aimed to “celebrate Korea’s sense of luxury and pride” at Hyundai Department Store’s first duty free store in Seoul.
The 14,250sq m store opened on 1 November 2018 at the company’s Trade Center branch in Seoul’s Samseong-dong business district, occupying the eighth, ninth and tenth floors.
Following an international design competition, Hyundai appointed JHP to help integrate the duty free shopping experience into the city.
JHP was commissioned to design the entire experience, including the retail vision, architecture interior planning and design, and visual merchandising.
“This unique store surprises international tourists with its iconic style which celebrates Korea’s sense of luxury and pride,” JHP stated.
“Rich natural finishes, textured surfaces, filtered light, ensure that the excitement of Seoul is integrated into the store.”
Hyundai is expecting to generate KW670 billion (US$593 million) in sales revenue in 2019 at the store, and more than KW1 trillion (US$885 million) in 2020.
As reported, duty free sales in South Korea rose 27% in the first quarter of 2019 to KW5,618.9 billion (US$4.95 billion), according to the Korea Duty Free Association.
The tables at the bottom of the page detail the sales performance in the quarter by category, store and nationality.
