Renovation of the Former First Bank Headquarters Completed in 1935
Reborn as a Luxury Boutique Specialty Hall
Main and New Buildings Renamed 'The Reserve' and 'The Estate'
Aiming to Become Korea's Top 'Luxury Landmark'
The Shinsegae Department Store Main Branch, Korea's first department store, is reborn as a luxury landmark by opening 'The Heritage,' which holds 90 years of history.
Shinsegae Department Store announced on the 9th that The Heritage, a luxury boutique specialty hall renovated from the former headquarters building of the First Bank in Jung-gu, Seoul, will open. Namdaemun and Myeongdong, where The Heritage is located, are the areas where the history of Shinsegae Department Store began. The company emphasized that it plans to showcase the future of new distribution combining history, culture, and shopping in a special space where the past and present harmonize.
The former First Bank headquarters building, newly renovated, was completed in 1935 and designated as a tangible cultural heritage of Seoul in 1989. It is a Neo-Baroque style building finished with Korean granite, notable for having preserved its original appearance since it sustained little damage during the Korean War. It is the first building in Korea to inherit a modern architectural structure as a complex space for shopping and culture.
Along with the opening of The Heritage, Shinsegae Department Store named its main building, where its history originated, 'The Reserve,' and the new building opened in 2005 as 'The Estate.' Following the earlier unveiling of The Estate last month and The Heritage on this day, The Reserve is also scheduled to open in the second half of this year.
Luxury Brands, Traditional Culture, and VIP Content in One Space
Shinsegae Department Store designed The Heritage as a special space where luxury and the most Korean elements are combined, allowing visitors to experience tradition, the future, and a global lifestyle.
First, on the first and second floors, the high-end luxury brand 'Chanel' will open. The Chanel store was designed by Peter Marino, who has collaborated with Chanel for a long time, preserving the historical architectural elements of The Heritage while harmoniously incorporating the Chanel House codes, Parisian sophistication, craftsmanship, and bold modern elements.
The new Chanel boutique includes dedicated spaces for ready-to-wear (RTW), handbags, and shoes, as well as exclusive salons for watches and fine jewelry. Continuing the tradition of supporting artists pursued by Gabrielle Chanel, Peter Marino personally selected and exhibited over 70 art pieces, objects, and furniture ranging from classical to contemporary works.
On the fourth floor, which has high architectural preservation value, there is a history hall showcasing the footprints of Korea's distribution industry and a gallery exhibiting high-quality artworks. The history hall digitizes various artifacts and materials owned by Shinsegae, allowing all visitors to freely view them.
Starting mid-month, the gallery will open with a photo exhibition featuring Namdaemun, the central area of Seoul from the 1930s to 1950s, and the history and heritage of Shinsegae as its inaugural exhibition. Subsequently, it plans to introduce artworks from various fields, including installations and exhibitions combining media technology.
On the fifth floor, 'House of Shinsegae Heritage,' a space interpreting Korean cultural heritage through Shinsegae's perspective, will be established. It is a space where exhibitions reflecting Korean culture and lifestyle are held, and visitors can experience 'things Korean' through collaborations with artisans and artists. One-day classes, expert lectures, and workshops will be regularly held here.
Additionally, a 'Dessert Salon' introducing menus developed by the Shinsegae Korean Food Research Institute researching Korean desserts, as well as a rooftop garden, will be created and open to everyone.
On the basement first floor, a craft gift shop offering Korean heritage-themed gifts has been set up. Visitors can purchase exclusive products created in collaboration with artisans and artists, as well as gift items embodying the identity of House of Shinsegae Heritage.
French luxury crystal brands 'Lalique' and 'Baccarat,' luxury tableware brand 'Christofle,' and Denmark's high-end audio specialist brand with a 100-year history, 'Bang & Olufsen,' will open stores here.
A 'The Heritage Valet Lounge' for customers with Black Diamond status or higher has also been newly established. Shinsegae Department Store plans to provide high-class VIP services along with the 'First Prime Lounge' newly opened in The Estate and the 'Trinity Lounge,' which will be renovated and opened in The Reserve.
Shinsegae Department Store 'The Heritage' Internal Gift Shop. Provided by Shinsegae Department Store
History, Culture, and Shopping Coexist... "A Must-Visit Course for Foreign Tourists"
Shinsegae Department Store purchased The Heritage in 2015 and devoted ten years to its preservation and restoration. Considering that it is a national cultural heritage building of Seoul, the focus was on restoring it as close to the original form as possible to inherit the building's history and heritage. To this end, past documents and photographic materials were collected as much as possible and reflected in the preservation and restoration process.
In fact, it underwent several reviews by the Seoul National Heritage Committee and received advice from committee members more than 30 times. Thanks to these efforts, about 90% of the building has been restored to the same level as when it was completed in 1935.
The antique interior also focused on preserving the original form. The floral plaster relief on the first-floor ceiling was restored to its original state by removing paint and repairing damaged areas, and the safe door installed at the time of completion was preserved in its original form and relocated to the fourth floor for exhibition.
Additionally, granite finishes in the elevator hall and stairwell, which had been altered during the 'Cultural Property Repair and Major Renovation' in 1994, were removed and restored to the tile finish form as at the time of completion.
Elements installed after completion were given a modern interpretation by Shinsegae. Notably, the curtain wall on the south side was made of white steel plates inspired by New York's 'The Morgan Library,' and the solar panels installed on the roof were dismantled to create a garden. An elevator was also newly installed for the convenience of mobility-impaired visitors.
Shinsegae Department Store expects that the classic and elegant aesthetics felt in the historic buildings of The Heritage, with over 90 years of history, and The Reserve, with over 100 years of history, will offer a special experience not only to foreigners but also to domestic customers. In the future, The Reserve will also house the largest Louis Vuitton and Herm?s stores in Korea.
Park Ju-hyung, CEO of Shinsegae Department Store, said, "We have opened The Heritage with all of Shinsegae's capabilities and sincerity," emphasizing, "The Shinsegae Department Store Main Branch will become a representative landmark of Seoul where history and tradition come alive, allowing visitors to simultaneously experience the joy of tourism, the excitement of shopping, and the depth of culture."
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