Shinsegae

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Shinsegae Department Co., Ltd.
주식회사 신세계
株式會社新世界
Public (Chaebol)
Traded asKRX: 004170
IndustryRetail
Founded1955; 65 years ago (1955)
Headquarters63 Sogong-ro, Jung-gu, Seoul, South Korea
Area served
South Korea
Key people
Lee Myung-hee
(Chairman)
Chung Yong-jin
(Vice Chairman)
Kim Eun Myeong
(CEO)
RevenueKRW 1,430,6 billion (2011)[1]
KRW 213,9 billion (2011)[1]
KRW 3,381,9 billion (2011) [1]
Total assetsKRW 370 billion (2011) [1]
Total equityKRW 1,910,2 billion (2011)[1]
SubsidiariesE-mart
WebsiteShinsegae English

Shinsegae (Korean: 신세계, KRX: 004170) Shinsegae (Korean: 신세계, KRX: 004170) is an South Korean department store, along with many other businesses, headquartered in Seoul, South Korea. The name Shinsegae literally means "New World" in Korean. Its flagship store in Centum City, Busan, was the world's largest department store at 3,163,000 square feet (293,900 m2), surpassing Macy's flagship Herald Square in New York City in 2009.[2][3]

Shinsegae was originally part of the Samsung Group chaebol, separated in the 1990s from the Samsung Group along with CJ Group (Food/Chemicals/Entertainment), Saehan Group (Electronic Media/Apparel/Textiles), and the Hansol Group (Paper/Telecom). The chairman Lee Myung-hee is the daughter of Samsung founder Lee Byung-chull and younger sister of the chairman of Samsung Electronics Lee Kun-hee.

The group owns the brands Shinsegae and E-Mart, and is in direct competition with Lotte Shopping and Hyundai Department Store Group. Currently, it is the largest retailer in South Korea.[4]

References[change | change source]

  1. 1.0 1.1 1.2 1.3 1.4 Department, 신세계백화점, Shinsegae. "Financial Reporting - shinsegae Department". department.shinsegae.com.
  2. "Guinness World Records: Department Store".
  3. Farfan, Barbara (28 December 2018). "What Is the World's Largest Retail Store?". Small Business. Retrieved 17 April 2019.
  4. "E-Land in talk to sell stores to Tesco South Korea unit". Reuters. 2008-05-14.

Other websites[change | change source]