[WCSA – Wowtimes - Almanac Events & Achievements 2022] Highlights during 67 years of development of Shinsegae, the popular South Korean department store firm (1955)

09-01-2023

(wcsa.world) Shinsegae is a South Korean department store franchise, along with several other businesses, headquartered in Seoul, South Korea.

The firm is an affiliate of Shinsegae Group, South Korea's leading retail chaebol, and one of the big three department store firms in Korea, along with Lotte and Hyundai Department Store.

 

 

Shinsegae’s flagship store in Centum City, Busan, was the world's largest department store at 293,900 m2, surpassing Macy's flagship Herald Square in New York City in 2009.

 

 

Shinsegae was the first credit card company in South Korea. They issued their own charge card from 1967 to 2000. In 2000, Shinsegae sold their credit card division to KorAm Bank, which was later acquired by Citibank Korea.

(Wowtimes)Shinsegae’ history andachievements

  • 1930: The main branch of Shinsegae was opened as the Gyeongseong branch of Mitsukoshi, a Japanese department store franchise.
  • 1945: The store was acquired by the late founder of Samsung group, Lee Byung-chull, and renamed Donghwa Department Store.
  • 1955: SHINSEGAE Inc. was found as a part of Samsung group
  • 1963: The store was given the name Shinsegae.

 

 

  • 1993: e-mart was founded by Shinsegae as the first discount retailer in South Korea.
  • 1987: Following Lee's death in, Samsung was separated into five business groups – Shinsegae Group was one of them.
  • 1997: Shinsegae Group was independent form Samsung
  • 2006: Shinsegae bought all 16 of the Wal-Mart stores in Korea. All of the country's Wal-Mart outlets were re-branded as E-Mart.
  • 2009: Shinsegae opened the world's largest department store, surpassing Macy's flagship Herald Square in New York City.

 

 

  • 2014: Shinsegae founded SSG, an online shopping mall. Through this shopping mall, products from Shinsegae affiliates (Shinsegae Department Store, E-Mart, Casamia, CHICOR, etc.) can be shopped online.
  • 2018: Shinsegae Department Store introduced a 35-hour work week, making various efforts to improve work efficiency

 

According to Wikipedia


Brian (collect) - (World Creativity Science Academy)