Hyundai Department Store to offer new retail experience in Busan

Interior of ‘Connect Hyundai,’ opening on the 6th in Dong-gu, Busan, featuring the 5-meter-tall artwork ‘The Visionary’ on the first floor. [Courtesy of Hyundai Department Store]

Hyundai Department Store is betting on a new type of retail experience by combining a department store, outlet, and art museum into a single destination.

This innovative approach aims to attract a new generation of shoppers looking for both premium and value-for-money products in one place.

Hyundai Department Store announced on Tuesday that it will open an urban complex shopping mall, Connect Hyundai, in Dong District, Busan, on September 6.

Ahead of the official opening, pre-opening events will take place on September 4 and 5.

Connect Hyundai aims to be a “playground that connects people, places, and culture,” the company said.

The complex will offer high-end department store goods, value-focused outlet shopping, and cultural and artistic experiences typically found in museums.

Spanning five basement levels to nine above-ground floors, the facility will house over 240 brands, including the latest lifestyle brands and local content that captures the unique character of Busan.

Visitors will be greeted by various cultural and artistic exhibits throughout the space.

Just as The Hyundai Seoul became a hotspot for the millennial generation, Connect Hyundai hopes to capture the attention of young people in Busan. A standout feature is The Visionary, a 5-meter-tall art piece by Spanish industrial designer Jaime Hayon, who is often compared to Gaudí of the 21st century.

This imaginative animal sculpture, which spans the first and second floors, serves as a symbol of Connect Hyundai.

The second floor features a Greenery Lounge, an urban oasis with natural light and a variety of plants, offering a relaxing retreat in the middle of the city. On the ninth floor, visitors will find Culture Connect, a next-generation cultural center.

To appeal to younger shoppers, Connect Hyundai has filled its shopping areas with popular brands. The basement New Wave section features over 20 K-fashion brands, including Matin Kim, Marithé + François Girbaud, and Covernat. There are also practical mixed-use stores that sell both regular and discounted items in one location.

The Connect Hyundai project is led by Jeoung, Ji-young, CEO of Hyundai Department Store, who previously introduced the groundbreaking The Hyundai Seoul.

He previously achieved a remarkable milestone by generating 1 trillion won ($746 million) in revenue in record time at The Hyundai Seoul.

With provincial department stores in cities like Masan and Daegu facing existential challenges, the retail industry is closely watching to see if Jeong’s experiment of combining department stores and outlets will succeed.

International retail executives from companies like Thailand’s Siam Piwat Group and Japan’s Hankyu Department Store have also taken notice, seeking to learn from Hyundai’s success.

Hyundai Department Store is considering expanding the Connect Hyundai model to other locations, including Cheongju in North Chungcheong Province.