Shinsegae
A major South Korean department-store and retail brand operating upscale department stores, supermarkets, online commerce, and related consumer businesses.
Last updated August 31, 2026
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Overview
Shinsegae is a major South Korean retail brand and the department-store arm of Shinsegae Group. It operates large-format department stores, luxury and fashion concessions, food halls, cultural facilities, online shopping, and related retail businesses. The company is one of South Korea’s three leading department-store operators, competing primarily with Lotte Shopping and Hyundai Department Store Group. The brand’s historical roots reach back to 1930, when a department store opened in Seoul’s present-day Jung-gu area as the Gyeongseong branch of Japan’s Mitsukoshi chain during the period of Japanese colonial rule. After liberation in 1945, the store was acquired by Lee Byung-chull, founder of Samsung, and was renamed Donghwa Department Store. The building was subsequently affected by the Korean War and was used for several years as a post exchange by the United States Army. In 1963, the business adopted the name Shinsegae, meaning “new world.” Shinsegae was originally associated with Samsung Group. During the 1990s, it separated from Samsung as part of a broader reorganization of the family’s business interests. Shinsegae Group later developed a portfolio that included the Shinsegae department-store brand, E-Mart discount stores, online commerce, lifestyle retail, fashion and beauty concepts, food distribution, and other consumer-facing businesses. The group is associated with the Lee family; Lee Myung-hee, daughter of Samsung founder Lee Byung-chull, has been a central figure in the group’s ownership and leadership history. The department-store business emphasizes premium merchandise, luxury fashion, beauty, food, hospitality, leisure, and experiential retail rather than price-led mass retail alone. Its Seoul main store is a historic flagship, while the Centum City store in Busan became internationally notable for its scale and was recognized as the world’s largest department store after opening in 2009. Shinsegae has also developed mixed-use destinations, including Daejeon Shinsegae Art & Science, which combines department-store retail with a hotel, offices, art facilities, science-oriented attractions, an aquarium, an observatory, entertainment, and educational spaces. The group has expanded beyond physical department stores. E-Mart, its discount-store subsidiary, became South Korea’s largest discount-store chain and acquired Wal-Mart Korea’s stores in 2006 before rebranding them as E-Mart. Shinsegae also operates or has operated smaller-format retail concepts, including Shinsegae Style Market, and launched SSG.com in 2014 as an online marketplace connecting products from Shinsegae affiliates such as Shinsegae Department Store, E-Mart, Casamia, and CHICOR. Shinsegae previously operated a credit-card business and issued its own charge card from 1967 until 2000, when that division was sold to KorAm Bank, later acquired by Citibank Korea. In 2021, Shinsegae Group acquired the SK Wyverns professional baseball team and renamed it SSG Landers, extending the group’s consumer brand presence into sports. In October 2024, the group announced plans to separate its department-store and supermarket divisions into two entities. The brand remains active as a prominent South Korean premium-retail operator, although individual stores and formats have opened, closed, or been repurposed over time.
History
Shinsegae’s oldest department-store site began operation in 1930 as the Gyeongseong branch of Mitsukoshi, a Japanese department-store chain. The store was located in Seoul during Japanese colonial rule and became one of the city’s notable commercial sites. Following Korea’s liberation in 1945, Lee Byung-chull, founder of Samsung Group, acquired the business and changed its name to Donghwa Department Store. The store’s operation was disrupted by the Korean War, which began in 1950. For several years, the premises were used as a post exchange by the American military. In 1955, the business was reorganized in the postwar retail environment, and in 1963 it adopted the Shinsegae name. The name, written in Korean as 신세계 and in Hanja as 新世界, means “new world.” The historic Seoul building remains associated with the brand and is used as a luxury shopping destination. Shinsegae was part of the Samsung business family for much of its early corporate history. During the 1990s, it became independent from Samsung in a series of family-business separations that also involved other major Korean groups. Shinsegae subsequently developed as a retail-focused chaebol affiliate under Shinsegae Group. Its portfolio grew beyond traditional department stores to include E-Mart discount stores, online shopping, fashion and beauty, lifestyle goods, food distribution, and other consumer businesses. The company’s department stores increasingly adopted a premium and experiential model. Rather than relying only on conventional merchandise floors, newer locations integrated restaurants, art, education, entertainment, hospitality, and architectural attractions. Shinsegae Centum City in Busan became a major example of this approach and was recognized as the world’s largest department store by floor area after its opening in 2009. The group also introduced smaller concepts such as Shinsegae Style Market, aimed partly at younger shoppers and managed through the group’s E-Mart network. In the discount segment, E-Mart became a major South Korean supermarket and hypermarket operator. Shinsegae announced in 2006 that it would acquire all 16 Wal-Mart stores in South Korea; the locations were converted to E-Mart stores later that year, after Wal-Mart exited the Korean market. E-Mart was spun off as a separate listed corporation in 2012. Shinsegae also expanded into digital retail with SSG.com, launched in 2014 to aggregate merchandise from several group affiliates. The group’s former financial-services activities included South Korea’s first credit-card company. Shinsegae issued its own charge card from 1967 to 2000, when the credit-card division was sold to KorAm Bank. KorAm was later acquired by Citibank Korea. This business was therefore discontinued as a Shinsegae operation. A major recent development was the opening of Daejeon Shinsegae Art & Science in 2021. The large mixed-use complex combined a department store with the EXPO Tower, a hotel, an observation facility, the Shinsegae Nexperium science museum, an aquarium, cinemas, galleries, education facilities, and restaurants. The same year, Shinsegae Group acquired the SK Wyverns baseball club and renamed it SSG Landers, broadening its marketing and public-facing activities. In October 2024, Shinsegae Group announced a plan to separate its department-store and supermarket divisions into two entities. The brand continues to operate as a leading South Korean department-store business, with its competitive identity centered on premium brands, curated food and fashion, destination shopping, cultural programming, and integration with the group’s online and discount-retail platforms.
- 2024
Planned division of retail businesses
[1]Shinsegae Group announces a plan to separate department-store and supermarket operations into two entities.
- 2021
Daejeon Art & Science opens
[1]Shinsegae opens a large mixed-use retail and cultural complex in Daejeon.
- 2021
SK Wyverns acquired and renamed
[1]Shinsegae Group acquires the professional baseball club formerly known as SK Wyverns and renames it SSG Landers.
- 2014
SSG.com launches
[1]Shinsegae launches an online shopping platform aggregating products from several group affiliates.
- 2012
E-Mart spun off
[1]The group separates E-Mart into a distinct listed corporation.
- 2009
Centum City becomes a landmark store
[1]The Busan Centum City location opens and is recognized for its exceptional scale as the world’s largest department store.
- 2006
Wal-Mart Korea stores acquired
[1]Shinsegae acquires Wal-Mart’s 16 South Korean stores and converts them to E-Mart locations.
- 2000
Credit-card division sold
[1]Shinsegae sells its credit-card division to KorAm Bank, ending its direct operation of the charge-card business.
- 1967
Credit-card business begins
[1]Shinsegae begins issuing its own charge card as part of South Korea’s early credit-card industry.
- 1963
Shinsegae name adopted
[1]The department store adopts the Shinsegae name, meaning “new world.”
Products and positioning
Premium, experience-led retail combining luxury and everyday merchandise with food, culture, hospitality, entertainment, and digital commerce.
Department stores · 1963
Shinsegae Department Store
The core retail format, offering luxury and contemporary fashion, accessories, beauty, food, home goods, sports, children’s merchandise, restaurants, and cultural services. Major destinations include the historic Seoul main store and the Centum City store in Busan.
Department store and destination retail · 2009
Shinsegae Centum City
A large Busan department-store complex recognized internationally for its scale. In addition to conventional retail departments, it includes food, leisure, culture, and other destination-shopping functions.
Mixed-use retail and cultural complex · 2021
Daejeon Shinsegae Art & Science
Opened in 2021, this Daejeon complex combines a department store with the EXPO Tower, hotel accommodation, offices, an observatory, science attractions, an aquarium, cinemas, galleries, education facilities, restaurants, and luxury and contemporary fashion departments.
Discount stores and supermarkets · 1993
E-Mart
A Shinsegae Group discount-retail chain selling groceries, household goods, apparel, general merchandise, and other everyday products. It operates primarily in South Korea and has also had operations in China and Mongolia. E-Mart became a separate listed corporation in 2012.
Online retail · 2014
SSG.com
An online shopping platform launched by Shinsegae in 2014. It brings together merchandise from Shinsegae Department Store, E-Mart, Casamia, CHICOR, and other affiliated or related retail businesses.
Small-format shopping mall · 2010
Shinsegae Style Market
A smaller shopping-mall concept introduced for younger consumers. The format has operated through E-Mart locations, including sites in Seongnam and Daejeon, rather than functioning as a conventional full-scale department store.
Financial service · 1967
Shinsegae charge card
A proprietary charge-card business operated by Shinsegae from 1967 to 2000. The division was sold to KorAm Bank and is no longer a Shinsegae offering.
Controversies
2026
Starbucks Korea Tank Day promotion controversy
According to the supplied reference material, Starbucks Korea, operated by Shinsegae Group in South Korea, faced criticism over a Tank Day tumbler promotion that some audiences interpreted as referencing the Gwangju Uprising and the 1987 death of student activist Park Jong-chul. The company apologized, the chief executive was dismissed, and a half-day closure was announced for employee history education.
Advertising restrictions involving Go Hyun-jung
The supplied reference material states that Shinsegae removed or prohibited commercial images of actress Go Hyun-jung from its department stores following her divorce from Chung Yong-jin, a former vice chairman and chief executive associated with the group.
Brand decisions
2024
Planned separation of department-store and supermarket divisionsStrategyBackground
Shinsegae Group announced an organizational restructuring of its principal retail divisions.
Action taken
The group announced plans to place department-store and supermarket operations into separate entities.
Aftermath
The supplied reference material does not establish the final implementation details or completion date.
2021
Acquisition of SK WyvernsM&ABackground
Shinsegae Group expanded its consumer and sports portfolio through professional baseball.
Action taken
The group acquired the SK Wyverns and relaunched the team as SSG Landers.
Aftermath
The acquisition added a sports property and a new public-facing brand to the group’s portfolio.
Reported acquisition consideration. 135.2 billion South Korean won (2021)
2012
E-Mart corporate separationStrategyBackground
The group sought to distinguish its discount-store business from its department-store operations.
Action taken
E-Mart was spun off as a separate listed corporation.
Aftermath
E-Mart continued as an independent public company within the broader Shinsegae business family.
2006
Acquisition of Wal-Mart Korea storesM&ABackground
Wal-Mart decided to leave the South Korean market after struggling to establish a strong local position.
Action taken
Shinsegae acquired all 16 Wal-Mart stores in South Korea and converted them to E-Mart stores.
Aftermath
Wal-Mart exited the Korean market, while E-Mart expanded its domestic store network.
2000
Exit from credit-card operationsOtherBackground
Shinsegae operated a proprietary charge-card business for several decades but decided to dispose of the division.
Action taken
The credit-card division was sold to KorAm Bank, which was later acquired by Citibank Korea.
Aftermath
Shinsegae ceased direct operation of its credit-card business.
Recent events
Shinsegae Food launches Better Meat[3]
Reported:
Shinsegae Food launched Better Meat, its alternative-meat brand, with a cold-cut ham made from soy protein and vegetable oil as its first product.
Sources3 sources
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