Firmly situated in the financial and banking district of Seoul, Yeouido Island, stands already been an iconic landmark since its unveiling in 2021. At the peak of COVID, The Hyundai Seoul defies all odds amidst a struggling South Korean economy and the COVID-19 crisis. Here's why The Hyundai Seoul should be the only mall you need to visit when you're in Seoul!
Built on "Department Store Cemetery"
Yeouido is an unusually bad area for department stores and malls. If you didn't know, department stores contain no windows versus malls are shopping areas with windows! Nicknamed "The Tomb of Department Stores", Yeouido is not known to have a huge population of residents and has nearby competition including the IFC Mall with an Apple store and Shinsegae Times Square. These two factors create a huge disadvantage to malls on this small island, which is also pretty difficult to get to since it's not in a popular shopping area.
The Little Mall That Could
When the Hyundai executive board members decided to name this amazing piece of architecture, they did not go with the mall's location such as "Yeouido" or "Department Store" in the name. They went with just "The Hyundai Seoul". The reason being since this mall was unveiled during the height of the COVID pandemic, most people could not travel outside of the country. The people at Hyundai decided to build a mall for the people of Korea. The Hyundai Seoul's main target customers are Koreans! In fact, 50% of its customers are from Busan and Daegu, 36% are from Gyeong-gi provence, and only 24% are Seoul citizens!
What makes The Hyundai Seoul defy all odds during an economic downturn is its business model. It isn't your traditional mall. White and pristine with a lot of "wasted space", this mall caters to the early 20's and 30's generation. Long gone are the malls that are for your moms and dads with extra cash. Gen Z also has their own cash and is willing to spend it any way they want!
With lightning-fast wifi connection, tons of Instagram-friendly locations, over 3,000 social media post mentions per day, and a profit of over $1 million per day, The Hyundae Seoul is the remarkable mall that could!
(Amazing Instagram-friendly Laurus Blanc cafe!)
The Hyundai Seoul is truly unique in its architecture and design! The largest shopping mall in Seoul, covering the size of 13 football fields, houses over 600 shops on 6 floors with a glass roof letting in natural sunlight and an indoor forest!
The Art of Curation
Like the attention spans of Gen Z, The Hyundai Seoul has perfected the art of curation. With brands familiar to Gen Z splattered everywhere within its walls, it is hardly your mom and pop's mall. Up-and-coming fashion brands and even food trucks are changed every several months following Korea's constant change in taste and trends! Check out our article on NewJeans' pop-up store here!
So what are you waiting for? Have we convinced you that this is the number one shopping mall in Korea yet? Let us know what you think in the comments!