Hyundai Department Store Opens 'Samseong-dong Era'... Quiet Start Amid COVID-19

40 Years Since Moving into New Headquarters
Commemorative Events and Relocation Ceremony Omitted
Amid 'Social Distancing' Atmosphere
Considering Difficulties in the Distribution Industry

Aerial view of Hyundai Department Store headquarters

[Asia Economy Reporter Cha Min-young] Hyundai Department Store headquarters has opened a new era in Samsung-dong by relocating to a new building after 40 years. However, the relocation ceremony and other events were quietly held, seemingly in consideration of the social atmosphere due to the COVID-19 pandemic.

According to the distribution industry on the 18th, Hyundai Department Store completed the office relocation over two days, from the 16th to the 17th. It moved its headquarters for the first time in about 40 years since moving into the Geumgang Shopping Center within the Apgujeong Hyundai Apartment complex in Seoul in 1980.

All internal commemorative events such as the relocation ceremony were omitted. It is reported that the CEOs, including Chung Ji-sun, Chairman of Hyundai Department Store Group, also refrained from making statements. This is interpreted as a measure considering the domestic COVID-19 spread prevention 'social distancing' campaign and the overall difficulties in the distribution industry, including duty-free shops and department stores.

The new headquarters is located at 12, Teheran-ro 98-gil, Gangnam-gu, Seoul, near Samseong Station. Samsung-dong is attracting attention as a hub for the Hyundai family conglomerate, with the existing HDC Hyundai Development Company and the Global Business Center (GBC) under construction by Hyundai Motor Group located there.

The building has six basement floors and 14 above-ground floors, with a total floor area of 28,714㎡ (8,686 pyeong). About 1,000 Hyundai Department Store employees work there, and the facilities include offices, a daycare center, a library, fitness facilities, and other in-house welfare facilities.

A Hyundai Department Store official stated, "Since it is difficult to gather a large number of people due to COVID-19 and the distribution industry is facing tough times overall, we will focus on quickly resuming work."

Meanwhile, Hyundai Livart, an affiliate of Hyundai Department Store Group, is scheduled to move into the existing Geumgang Shopping Center in Apgujeong as planned.