SSG Landers, which Shinsegae Group launched in 2021 after acquiring the pro baseball club SK Wyverns, is continuing to grow in size on the back of professional baseball's rising popularity. As reliance on affiliate sales decreases and the share of its own revenue increases, its revenue structure is also improving.
From the club's founding in 2021, Chung Yong-jin, chairman of Shinsegae Group, envisioned linking the baseball team with the group's retail and leisure businesses, and has actively integrated SSG Landers into shopping events and collaboration products. Shinsegae Group plans to ramp up "leisuretainment," which connects game attendance demand to shopping, food and beverage, and lodging demand, through "Starfield Cheongna," slated for completion at the end of next year.
According to the Financial Supervisory Service's electronic disclosure system on the 18th, last year's sales for Shinsegae Baseball Club (SSG Landers) were 72.2 billion won, with operating profit of 4.9 billion won. Year over year, sales rose 18.4% and operating profit increased 150.5%. SSG Landers' sales steadily grew from 52.9 billion won in 2021, 55.2 billion won in 2022, 58.5 billion won in 2023, 61.0 billion won in 2024, to 72.2 billion won in 2025.
Along with topline growth, dependence on the parent company is also declining. Last year, sales generated from Shinsegae Group affiliates were 21.6 billion won, a level similar to 2024, but as total sales grew, the share of affiliate sales fell below 30%. This is seen as a result of expanding proprietary revenue sources such as advertising and gate revenue, licensing, merchandise sales including uniforms, and collaborative marketing. In fact, SSG Landers' affiliate sales share decreased from 42.2% in 2021, 42.2% in 2022, 41.9% in 2023, 35.5% in 2024, to 29.9% in 2025.
In January 2021, the chairman acquired 100% equity in SK Wyverns, which SK Telecom held, through E-MART for 135.3 billion won. Afterward, Shinsegae Group rebranded Incheon Munhak Baseball Stadium, the home park, as "SSG Landers Field," and expanded specialty seating such as skyboxes and pet-friendly sections to enhance spectator convenience. It also actively placed affiliate brands such as No Brand Burger and Starbucks in the ballpark, boosting synergy with its retail business.
This strategy also led to an increase in attendance. In 2022, Landers Field drew 981,546 visitors, ranking No. 1 in total home attendance in the KBO League for the first time in the history of the Incheon-based team. Last year, it became the first Incheon-based club to surpass 1 million fans for three consecutive years, and set a club record for the highest total attendance with 1,281,093. SSG Landers finished third in the regular season last year with a .536 winning percentage, recording 75 wins, 4 ties, and 65 losses in 144 games.
Shinsegae Group is also actively leveraging the team for events and product planning by the group's retail affiliates. E-MART has held a large-scale discount event, "Landers Day," timed to the season opener since 2021, the first year of the team's acquisition.
From the following year, the event expanded into a group-wide initiative involving online affiliates such as SSG.com, Gmarket, W Concept, and Shinsegae Live Shopping, as well as offline affiliates such as Shinsegae Department Store, Starbucks, Shinsegae Property (Starfield), and Shinsegae Simon (Shinsegae Outlet). Starting last year, the event name changed to "Landers Shopping Festa," and both discounts and offline experiential content were strengthened.
A project that falls in line with this retail synergy is Starfield Cheongna. According to Shinsegae Group, on the day the acquisition of SSG Landers was finalized, the chairman said, "I always felt it was a shame to see spectators leave after a baseball game," adding, "I want to occupy 8 to 10 hours of customers' time by using Starfield and the dome stadium."
Starfield Cheongna, which brings the chairman's vision to life, is designed as an integrated leisuretainment complex that connects a 23,000-seat multi-stadium with a hotel, an infinity pool, and a shopping mall. With three underground floors and eight above ground, and a total floor area of 495,900 square meters, it will be the largest among Starfield locations in Korea. It is set to be created as a venue capable of hosting everything from K-pop concerts to major international competitions.
The construction progress rate of Starfield Cheongna recently surpassed 40%. The target is completion by the end of 2027 and an official opening in early 2028. Shinsegae Group expects that after completion, Starfield Cheongna will attract more than 25 million domestic and international visitors annually and generate an economic impact of 3.6 trillion won in production inducement and 30,000 jobs in direct and indirect employment.
On the 23rd of last month, five days before the start of this year's pro baseball season, the chairman also visited the Starfield Cheongna construction site. At the site, he said, "I have always thought it would be great if Korea also had a stadium where we could host global baseball tournaments and concerts by global artists at any time," adding, "Once Starfield Cheongna is completed, it will become a new reason for foreigners from around the world to visit Korea."