Hyundai Department Store Group

What Hyundai Department Store Group does

Hyundai Department Store Group is a South Korean retail conglomerate operating one of the country's largest department store networks with 27 branches across Seoul, Busan, Gwangju, Daegu, and Ulsan, plus 8 outlet locations, duty-free shops, and home shopping channels. The group operates through wholly-owned subsidiaries spanning department store retail (Hyundai Department Store), home shopping (Hyundai Home Shopping), duty-free retail (Hyundai Duty Free), fashion (Handsome), food service (Hyundai Green Food), furniture and interiors (Hyundai Livart, Hyundai L&C), and the ZINUS mattress brand acquired in 2022 for approximately 879 billion KRW. The group serves affluent Korean consumers seeking luxury brands, international tourists via duty-free operations and H Point Global membership, and corporate employee benefit programs through partnerships with major Korean employers.

The technology stack is anchored by "HEYDI," a proprietary AI shopping assistant built on Microsoft Azure OpenAI that handles personalized product curation and conversational shopping, with usage growing 9x to 80,000 monthly cases. The group launched "The Hyundai Hi" premium curation e-commerce platform in March 2026 featuring 3,000 curated brands, and operates H.Point as an integrated membership program spanning all affiliates plus "H Point Global" for foreign tourists. Strategic partnerships include Microsoft (AI infrastructure), Kakao (conversational commerce via Kakao AI Tools), and Le Bon Marché (food hall concept). Corporate GTM targets employee spending bonus programs with Samsung Electronics, SK Hynix, and Samsung C&T.

The business model combines physical retail sales (department stores, outlets, duty-free), digital commerce (The Hyundai Hi, home shopping), subscription-based membership benefits (H.Point), and cultural experience services (Hyundai Arts & Culture Festival, CH 1985). Revenue streams include one-time product sales, recurring membership subscriptions, corporate B2B benefit redemption, and event-driven cultural programming. Core department store and duty-free operations grew approximately 10% in Q1 2025, with foreign sales accelerating from 22% YoY growth in Q1 to approximately 70% in May driven by international tourism recovery. Stock price surged 97.2% over six months, reflecting strong investor confidence in the turnaround despite a 294.1 billion KRW goodwill write-down on the ZINUS acquisition.

Name

Hyundai Department Store Group

Legal name

주식회사 현대백화점 (Hyundai Department Store Co., Ltd.)

Website

https://ehyundai.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hyundai Department Store Group is a South Korean retail conglomerate operating 27 department stores, 8 outlets, duty-free shops, home shopping, and subsidiaries spanning fashion, food, furniture, and technology. It serves affluent Korean consumers, international tourists, and corporate employee benefit programs through integrated physical and digital channels.

Ownership category

akta.pro rank

Product category

Department Store Retail

NAICS

Department Stores (4551), Department Stores (45511)

SIC

Retail-Department Stores (5311)

akta.pro primary industry

Regional Luxury & Premium Department Stores (CRAGAFAE)

akta.pro secondary industries

Mid-Tier Department Stores (Apparel-Led) (CRAGACAB), Luxury Home & Lifestyle Department Stores (CRAGADAG)

Keywords

• Department store retail
• Premium outlet shopping
• Duty-free retail
• Home shopping commerce
• AI shopping curation

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Department Store Retail Sales: Core retail revenue from merchandise sales across multiple department store formats including luxury flagship stores, suburban branches, and outlet centers. Revenue generated through direct product sales with typical retail margins.
2. Duty-Free Operations: International tourist-facing duty-free retail operations at major department store locations, benefiting from the surge in foreign visitors to Korea. Foreign sales have shown acceleration from 22% growth in Q1 to approximately 40% in April and 70% in May.
3. Home Shopping: Television and digital home shopping channels providing extended reach to domestic consumers beyond physical store locations.
4. Membership Programs: H Point Global membership program offering tiered benefits to loyal customers, with premium services including private shopping appointments, exclusive events, and personalized concierge services.
5. Cultural Experience Services: Revenue from cultural events, exhibitions, and arts programming including Hyundai Arts & Culture Festival, Art in Shopping, and Artniquitable exhibitions that drive foot traffic and premium positioning.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

Hyundai Department Store Group operates a premium omnichannel retail platform in South Korea, selling luxury and everyday fashion, beauty, lifestyle, food, and home goods through 27 department store branches, 8 premium and city outlet locations, duty-free shops, and the "The Hyundai Hi" curation e-commerce platform. The business is anchored by the H.Point integrated loyalty program, the H Point Global membership for international tourists, the Hyundai Department Store Card, and the proprietary HEYDI AI shopping assistant that delivers personalized product recommendations to shoppers in-store and online.

Product overview

Hyundai Department Store Group operates a diversified retail and lifestyle platform with The Hyundai Hi (더현대Hi) as its primary online curation e-commerce platform, supported by the H.Point integrated membership program. The group's core offering includes department store operations (Hyundai Department Store) with the innovative 'The Hyundai Seoul' retail format, outlet operations (Hyundai Outlet), and the AI-powered HEYDI shopping assistant for personalized recommendations. Additional services include CH 1985 cultural education, the H Point Global foreign membership program, Hyundai Department Store Card, and the Hyundai Children's Book & Art Museum. The group has expanded into online curation with The Hyundai Hi platform featuring 3,000+ brands, and leverages AI capabilities including Azure OpenAI-based HEYDI for shopping recommendations and Kakao Tools integration for conversational commerce.

Differentiator

Problem solved

Functional benefit

Brands

• The Hyundai Seoul: Premium lifestyle curation format flagship store in Yeouido, Seoul featuring experiential retail with waterfall garden, creative ground, and food hall concepts
• The Hyundai Daegu
• H.Point
• CH 1985
• HEYDI
• Hyundai Department Store Card
• Club Wedding

Products and services

• Hyundai Department Store (현대백화점) Main department store business with 27 branches including flagship locations in Apgujeong, Trade Center, and the "The Hyundai Seoul" experiential format. Offers luxury and mid-market fashion, beauty, lifestyle products, and food hall services to Korean consumers.
• The Hyundai Hi (더현대Hi)

Quantifiable outcome

• Stock price surged 97.2% over six months, indicating strong market confidence in business performance and transformation strategy.
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability5 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, major, minor and flagship.

• MicrosoftcoreTechnology or Integration · 1 March 2024Strategic technology partnership for AI-powered retail innovation. Microsoft Azure OpenAI service powers the HEYDI AI shopping assistant and AI Tour Seoul platform. Collaboration enables conversational shopping experiences, personalized recommendations, and multilingual AI concierge services for international visitors.
• KakaocoreTechnology or Integration · 1 January 2024Integration partnership enabling HEYDI AI shopping services to be accessed through Kakao AI Tools platform. Extends reach to Kakao's massive user base in Korea, allowing customers to discover and shop Hyundai Department Store products through Kakao's conversational AI interface.
• Samsung ElectronicsmajorGTM or Marketing Partner · 1 January 2024Corporate partnership for Samsung Electronics employee spending bonus program. Samsung workers can redeem spending allowances at Hyundai Department Stores, home shopping channels, and duty-free operations, driving significant corporate customer revenue.
• SK HynixmajorGTM or Marketing Partner · 1 January 2024Corporate employee benefit partnership enabling SK Hynix workers to utilize spending bonuses for retail purchases across Hyundai department stores, home shopping, and duty-free shopping.
• Samsung C&TmajorGTM or Marketing Partner · 1 January 2024Corporate partnership for Samsung C&T employee benefit and spending allowance programs, providing access to Hyundai retail network and services.
• H Point Global Membership PartnerscoreChannel Partner/ Reseller/ Distributor · 1 January 2024Global membership partner network spanning multiple international retailers, enabling H Point members to earn and redeem benefits across partner locations worldwide. The network has grown to over 150,000 subscribers.
• Electronic Land (Atelier Vega)minorStrategic or Co-development Partner · 1 January 2024Specialty beauty appliance store partnership featuring Atelier Vega brand within Hyundai department stores, offering premium skincare and beauty technology products.
• Le Bon MarchéflagshipStrategic or Co-development Partner · 1 January 2023Flagship international partnership with Le Bon Marché, Paris for the food hall concept collaboration. Brings European-style gourmet food hall experience to Hyundai department stores, featuring curated international and Korean culinary offerings.
• Highline WarrenminorOthers · 1 January 2023Zinus Georgia plant sale transaction involving Highline Warren, representing a strategic real estate or asset transaction in the company's portfolio optimization activities.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Others

• Le Bon Marché: Le Bon Marché is the LVMH-owned Parisian luxury department store and an existing Hyundai partner for its food hall concept; it is highly comparable as a global benchmark for experiential, curated luxury retailing.

Direct peers

• AK Plaza: AK Plaza is a Korean department store chain operating mid-market and outlet formats that compete with Hyundai's suburban branches and outlet centers in similar geographies.
• Hotel Shilla (The Shilla Duty Free): The Shilla operates Shilla Duty Free, a major Korean duty-free competitor to Hyundai Duty Free with comparable tourist-focused offerings and is part of the Samsung Group ecosystem.
• Shinsegae Department Store: Shinsegae operates premium department stores in Korea and competes head-to-head with Hyundai in the luxury segment, also running SSG.com as an integrated online platform similar to The Hyundai Hi.
• Lotte Department Store: Lotte Department Store is the largest Korean department store chain and Hyundai's most direct competitor, operating a comparable multi-format retail network across Korea with luxury, mid-tier, and outlet formats serving overlapping customer segments.
• Lotte Duty Free: Lotte Duty Free is the largest duty-free operator in Korea and directly competes with Hyundai Duty Free for tourist and international visitor spend, particularly Chinese and Japanese travelers.
• Galleria Department Store (Hanwha): Galleria is a smaller Korean luxury department store chain owned by Hanwha, positioned in the high-end segment with flagship locations competing with Hyundai's Apgujeong and The Hyundai Seoul stores.

Broad incumbents

• Nordstrom: Nordstrom is a US-based multi-format department store and luxury retailer with comparable premium positioning, omnichannel strategy, and an active private-label and curation model relevant to Hyundai's transformation.
• Takashimaya: Takashimaya is a Japanese department store group operating premium department stores and food halls across Asia, including cross-border luxury retailing comparable to Hyundai's Le Bon Marché partnership and luxury curation strategy.

Regional players

• Isetan (in Korea): Isetan operates department stores in Korea under its Japanese parent (Isetan Mitsukoshi Holdings), bringing Tokyo luxury merchandising concepts to Seoul locations that overlap with Hyundai's premium positioning.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCqaSfiTyF72tSdi5TZ-HHmg
• Instagraminstagram.com/the_hyundai
• Xx.com/eHyundai_tweets
• LinkedInlinkedin.com/company/hyundai-department-store

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hyundai Department Store Group