Landmark war in South Korea s Myeongdong Lotte Shinsegae face off in flagship showdown

SEOUL - South Korea’s retail giants, Lotte and Shinsegae, are on a collision course over department store domination of Seoul’s Myeongdong district, racing to reinvent their retail strongholds to lure young, high-spending consumers.

As one of Seoul’s premier shopping meccas for locals and tourists from overseas, the district holds deep legacy for both department store giants – home to their first flagship stores – and offers opportunities to synergise their retail and accommodation businesses.

Lotte Department Store is set to shutter its youth-focused Young Plaza in Myeongdong for a sweeping renovation starting in April. It marks the first major overhaul since the plaza’s debut in 2003.

Staying true to its youthful identity, Young Plaza has consistently introduced trendy fashion brands and shops catering to younger tastes.

Central to the overhaul is the creation of a dedicated zone highlighting trendy Korean products designed to attract Gen Z shoppers from around the globe with a blend of fashion, food and beverage attractions.

The revamped plaza is also expected to create synergy with Lotte’s other department store buildings in the area, where renovation efforts are already afoot.

Lotte has been upgrading its main flagship department store since 2019 through phased renovations, introducing luxury fashion zones, gourmet food halls and sports and leisure areas.

In December 2024, it unveiled a newly renovated beauty hall on the basement floor – now the largest of its kind among department store chains in the country.

Later in 2025, Lotte plans to unveil a K-fashion speciality hall at its main branch, while its luxury annex, Avenuel, is also set to undergo its own makeover soon.

All of these efforts fall under a broader vision to bring new life to Lotte Town Myeong-dong, according to the company, via a grand plan to transform the area into an all-in-one urban