IKEA Opens Fifth South Korean Store

Ten years after arriving in South Korea, IKEA is moving closer to more customers in Seoul today [17th April] as it opens the doors of its fifth store in one of the retailer’s most prospective markets. 

IKEA Gangdong is situated in the popular, new Gangdong I-Park The River shopping, entertainment and business complex, making it the first IKEA store in the country to be integrated into a mixed-used facility. Excellent transport infrastructure is expected to make the company’s range and home furnishing expertise accessible to more of the many people in the city.

Tolga Öncu, Ingka Retail Manager (COO) at IKEA Retail (Ingka Group) said: “South Korea is one of our most important markets in Asia and I am glad that we can bring our vision of creating a better everyday life for the many to more people in the country. As we continue to invest in South Korea and learn from its innovative retailing, we hope that IKEA Gangdong will become the affordable home furnishing destination of choice for the customers in and around Seoul.”

IKEA Gangdong showcases about 7,400 home furnishing products and offers approximately 3,700 available for immediate purchase, with the option to order the entire range for home delivery or pick-up. The store also features a sustainable living shop, a circular hub, a buy-back service, and free spare parts. It uses geothermal energy for cooling and heating, and all truck deliveries in Seoul will be made by EVs, thus contributing to the company’s zero-emission goals.

The opening of the new store is part of IKEA’s long-term investment in South Korea aimed at optimizing the retailer’s physical and digital presence and becoming even more affordable. Over the coming years the company is investing more than EUR 300 million in this market to further upgrade its existing stores and test different retail formats.

IKEA remains on an expansion journey and continues to grow its presence in existing and new markets.  The company is planning to open several new customer meeting points during the coming year to enable an easier shopping experience for our customers. To highlight a few, new stores will be opened in New Zealand, India, and the US as well as the highly anticipated store on Oxford Street in London, UK that will welcome its first visitors on the 1st of May this year.

Source : IKEA

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