Retail in Asia


Apple to open fourth South Korea store

U.S. tech giant Apple is set to open its fourth store in South Korea this month, expanding its presence in the country to compete with local rival Samsung Electronics Co.

Dubbed ‘Apple Jamsil’, the company said on September 14 it will open in South Korea’s Songpa-gu District on September 24, inside the Lotte World Mall, which is located in Seoul’s southeastern neighbourhood of Jamsil.

SEE ALSO: Apple unveils iPhone 14 Pro and iPhone 14 Pro Max

Apple’s Korean website opened a special menu announcing the store’s opening.

“A new Apple Store is coming soon in Jamsil, which has led to Seoul’s prosperity,” said the site, in translation. “Do you want to bring a unique idea to life or get inspired by something different?”

“Or do you need time to recharge in your exhausted daily life?” It continued. “A very special space for you… Apple Jamsil. Now, here, the colorful thoughts of each other come together and unfold like a piece of silk.”

The U.S. tech company opened its first South Korean store in Seoul’s fashionable southern district of Gangnam in January 2018, followed by two more Seoul stores in Yeouido and Myeongdong in February of 2021 and this past April, respectively.

The new Jamsil store is situated 10 miles away from the Apple Myeongdong, just across the Han River.

Opened in October 2014, Lotte World Mall is a 221,000 square metre, 11-story shopping and entertainment centre, inspired by New York City’s Rockefeller Center.

The Apple Jamsil opening coincides with the release of Apple’s iPhone 14 and iPhone 14 Pro, its new Apple Watch Series 8, SE, and Ultra, and new AirPods Pro.

SEE ALSO: Apple Pay to (finally) enter Korean market

South Korea remains a strong growth market for Apple. In 2021, Apple Korea’s sales jumped 24 percent on-year to hit USD 5.97 billion last year, according to its audit report filings issued in January.

Apple Korea Ltd. logged KRW 7.1 trillion (USD 5.97 billion) in sales from October 1, 2020 to September 30 last year, the filing said.