Jung Ji-young, representative of Hyundai Department Store, said on the 26th, "This year, we plan to invest approximately 190 billion won in MD reorganization and space renewal reflecting the characteristics of major stores such as The Hyundai Seoul, Pangyo, and Sinchon."
On that day, Jung noted at the 23rd regular shareholders' meeting held at the WOOJIN building in Gangdong-gu, Seoul, "We will accelerate the new store project."
Hyundai Department Store recorded consolidated sales of 4.1876 trillion won and an operating profit of 284.2 billion won last year. Jung said regarding last year's performance, "We have been focusing on strengthening the competitiveness of major stores, including new store investments and the Apgujeong flagship store, to proactively respond to rapid market changes."
He also stated, "The Hyundai Seoul has established itself as an innovative retail platform not only domestically but globally," and added, "Through large-scale renovations last year, the Middle East store expanded its influence to Bucheon as well as the western Gyeonggi and Incheon areas."
Additionally, he noted, "To enhance brand image, the duty-free sector is changing its name to 'Hyundai Duty-Free' and is striving for continuous revenue generation despite a challenging business environment," and added, "In the furniture manufacturing sector, ZINUS achieved a turnaround in the fourth quarter last year, and we expect to see significant growth starting this year."
Regarding the new store project, Jung said, "The Hyundai Gwangju, which is set to break ground in July this year, aims to open in Gwangju Metropolitan City in 2027," and added, "Plans are underway for new locations in Busan Eco Delta City in 2027 and in the Gyeongsan Knowledge Industry District in 2028."
He added, "In June this year, we will introduce our proprietary brand 'CONNECT HYUNDAI' at a complex terminal in Cheongju, following its launch in Busan last year."
Hyundai Department Store announced its corporate value enhancement plan last November. Jung said, "While we will be retiring our own shares, we will also implement an interim dividend exceeding 10 billion won for the first time this year and aim to increase the total dividend amount to around 50 billion won by 2027," and he stated, "Through strengthening the competitiveness of each institutional sector, we plan to achieve a return on equity (ROE) of over 6% and a price-to-book ratio (PBR) of over 0.4 times within three years."