In 2027, 'The Hyundai Busan' will be established... First application of the new retail model 'The Hyundai 2.0'

[Financial News] Hyundai Department Store, which transformed the paradigm of the distribution platform with 'The Hyundai Seoul', now proposes the future of distribution in Busan. By introducing 'The Hyundai Busan', which applies Hyundai Department Store's new retail platform 'The Hyundai 2.0' model for the first time in Busan Metropolitan City, they aim to set a new standard for future-oriented retail.

On the 29th, Hyundai Department Store announced that it would officially promote the construction of the future-oriented complex mall The Hyundai Busan on a site of 111,000㎡ within the special planning zone of Eco Delta City in Daejeo-dong, Gangseo-gu, Busan. They plan to start construction as early as October this year, aiming to open in the first half of 2027.
The Hyundai Busan will be the first to apply the next-generation platform The Hyundai 2.0, which has evolved one step further. The Hyundai 2.0 is Hyundai Department Store's 'New Retail Platform', combining customer-centric content and innovative interior design into one brand, based on the 'Big Blur' strategy that breaks down the traditional distribution boundaries of department stores, outlets, and shopping malls.
The distinctive feature of The Hyundai 2.0 is that each store is planned as a space that embodies the 'identity' unique to that city, reflecting the region's identity, culture, and natural environment. The cultural complex mall 'The Hyundai Gwangju', which is being promoted in Gwangju Metropolitan City with the goal of opening in the second half of 2027, will also be developed as a model of the future-oriented retail platform The Hyundai 2.0.
A Hyundai Department Store representative said, "If The Hyundai Seoul created a new turning point for future-oriented department stores through experience-centered innovative space design, The Hyundai Busan will be a space that proposes the future of distribution through the evolved The Hyundai 2.0 model."

To this end, The Hyundai Busan will be developed as a hybrid complex mall that combines the strengths of traditional distribution formats such as department stores and outlets, presenting a space that features an 'Indoor Mall' selling premium products and an 'Outdoor Mall' composed of reasonably priced outlet stores and trendy MD.
They plan to reconfigure shopping itself as a 'sensory journey' by diversely composing experiential content and immersive spaces that are difficult to see in existing distribution channels.
In particular, they will allocate nearly half of the store's business area (69,421㎡) to create an immersive experience space of about 33,000㎡. In specialized spaces inspired by New York's urban park 'Bryant Park' and the grand glass dome architectural style of Paris, France's complex cultural space 'Grand Palais', customers can enjoy a complex experience beyond shopping, which will be The Hyundai Busan's unique competitive edge, according to Hyundai Department Store.
Additionally, they plan to develop a 'glocal' storytelling that encompasses regionality and globality through Busan. They will compose a variety of trendy cultural content targeting the younger generation, including a complex cultural space that combines the alleyway sensibility unique to the port city of Busan with modern design, forest dining, floating cabanas, and outdoor gourmet booths.
A Hyundai Department Store representative said, "The Hyundai Busan will be a new concept cultural content platform that innovates customers' lifestyles, making it a new landmark space in the Busan region."

wonder@fnnews.com Jeong Sang-hee Reporter