Banseog note · Oct 25, 2026
Hyundai Department Store — Taking The Hyundai formula to large regional cities
- Where it stands now
- Preparing openings — building three large stores at once in Busan, Gwangju and Gyeongsan
In 2025, consolidated revenue was KRW 4.2303 trillion (+1%) and operating profit KRW 377.9 billion (+33%).
In the first half of 2026, the department store division posted revenue of KRW 1.2762 trillion (+8.2%) and operating profit of KRW 245.9 billion (+47.7%).
On Korea's National Pension Service public workplace data, Hyundai Department Store had 2,635 people on the pension register in August 2026. That is 3 more (0.1%) than in October 2025, holding the same size; in the meantime 628 people joined and 623 left.
- Three decisions within a year
- The Hyundai Gwangju: it is being built on the former Chonbang and Ilshin Spinning site with a gross floor area of 272,955 m², due for completion at the end of 2027 and opening in the first half of 2028. Total investment is KRW 1.4547 trillion.
- The Hyundai Busan: located in Eco Delta City in Gangseo-gu, about 33,000 m² of its 69,421 m² of sales floor will be experiential space. Total investment is KRW 918.3 billion.
- Gyeongsan Premium Outlet: under construction with total investment of KRW 358 billion. The Hyundai Seoul and the Pangyo store are run as hubs for strengthening stay-longer content and drawing foreign visitors.
- Three people it will look for
- New store opening leaders (store managers and opening PMs) — three large stores in Busan, Gwangju and Gyeongsan are under construction, and Gwangju is due to open in the first half of 2028
- Experiential space and content planners — The Hyundai Busan will fill nearly half of its sales floor with experiential space
- Regional MD and tenant recruitment — the brand lineup must be finalized in advance for the Gwangju and Busan openings
- For HR
- In Gwangju and Busan, other department stores will also compete for store operations and MD staff in the same trade areas. Store leaders and MDs are usually hired one to two years before opening, so with the Gwangju opening in the first half of 2028, now is the time to hire.
- For job seekers
- Experience leading the opening of a large mixed-use mall or new department store from the start, and planning experiential spaces and pop-ups, is worth the most at this company right now.
A reading written from public sources. Sources: Topdaily 2026-10-21 (results and new store investment), Seoul Shinmun 2025-07-09 (The Hyundai Gwangju groundbreaking, opening schedule and size), Newstop Korea 2026-10-19 (The Hyundai Busan sales floor and experiential space), News Tomato 2026-09-18 (regional trade area strategy). Team size is from Korea's pension register.