Hyundai Department Store announced on the 29th that it will actively promote the construction of the future-oriented complex mall "The Hyundai Busan." The goal is to open in the first half of 2027, with construction expected to begin as early as this October.
"The Hyundai Busan" will be developed on a site of 111,000 square meters (about 33,000 pyeong) in the special planning area of Eco Delta City, Daeyeon-dong, Gangseo-gu, Busan, with a total floor area of 200,000 square meters (about 60,000 pyeong).
"The Hyundai Busan" will be the first to apply Hyundai Department Store's next-generation platform "The Hyundai 2.0." This new retail platform combines customer-centric content and innovative interior design into one brand, based on the "Big Blur" strategy that breaks down traditional distribution boundaries such as department stores, outlets, and shopping malls.
"The Hyundai 2.0" will reflect the region's identity, culture, and natural environment, planning each store as a space that encapsulates the unique identity of that city. "The Hyundai Gwangju," a cultural complex mall under development in Gwangju Metropolitan City, also targets a launch in the second half of the same year and will be developed as a model of the future-oriented retail platform "The Hyundai 2.0."
"The Hyundai Busan" will be structured as a hybrid complex mall that combines the advantages of traditional distribution formats, featuring an "Indoor Mall" that sells premium products, along with an "Outdoor Mall" that includes outlet stores with reasonable prices and trendy merchandise.
In the past, consumers made purchasing decisions based on the characteristics of the formats, such as buying high-priced new items at department stores and discount items at outlets. Now, it is believed that the main factor in shopping decisions has shifted from "where to shop" to "what experience to have."
A representative from Hyundai Department Store noted, "The Hyundai Busan will be a differentiated shopping space where customers can freely navigate between the latest products of premium brands such as luxury and fashion and reasonably priced outlet products all in one space."
"The Hyundai Busan" will feature diverse experiential content and immersive spaces that are hard to find in existing distribution channels. It will allocate nearly half of the store's sales area, approximately 33,000 square meters (about 10,000 pyeong), to an "immersive experience space." The aim is to mix dynamic content such as culture, art, and leisure with the static natural environment to provide an unusual space where different elements blend together and offer a new experience beyond daily life.
A representative from Hyundai Department Store said, "The Hyundai Busan will become a new landmark space in the Busan area as a new concept cultural content platform that innovates customers' lifestyles."