Shinsegae Centum City achieves $1.5 bn sales milestone in 2023

Shinsegae Centum City [Courtesy of Shinsegae Group]

Shinsegae Department Store’s Centum City branch in Busan, South Korea, has earned more than 2 trillion won ($1.54 billion) in sales last year, making itself the first department store outside Seoul to achieve the sales milestone.

Shinsegae Department Store announced Monday that its Centum City branch hit the 2 trillion won sales milestone last year, 14 years after its opening as the world’s largest shopping complex in 2009.

The Centum City branch was also the first non-Seoul department store to achieve 1 trillion won in sales in 2016.

A majority of the customers at the Centum City are from outside Busan, with 55 percent as of last year.

The Busan store also saw its foreign sales surge in a post-pandemic environment. Its sales from international customers across 80 countries surged by 668 percent in 2023 compared with the previous year.

Shinsegae Department Store’s Gangnam branch in southern Seoul, in the meantime, became the country’s first single store to earn 3 trillion won in sales last year, the retailer said.