U.S. tech giant Apple has opened its fourth store in South Korea expanding its presence in the country to compete with local rival Samsung Electronics Co.
The U.S. tech company opened its first South Korean store in Seoul’s fashionable southern district of Gangnam in January 2018, followed by two more Seoul stores in Yeouido and Myeongdong in February of 2021 and this past April, respectively.
The new Jamsil store is situated 10 miles away from the Apple Myeongdong, just across the Han River.
Opened in October 2014, Lotte World Mall is a 221,000 square metre, 11-story shopping and entertainment centre, inspired by New York City’s Rockefeller Center.
The Apple Jamsil opening coincides with the release of Apple’s iPhone 14 and iPhone 14 Pro, its new Apple Watch Series 8, SE, and Ultra, and new AirPods Pro.
South Korea remains a strong growth market for Apple. In 2021, Apple Korea’s sales jumped 24 percent on-year to hit USD 5.97 billion last year, according to its audit report filings issued in January.
Apple Korea Ltd. logged KRW 7.1 trillion (USD 5.97 billion) in sales from October 1, 2020 to September 30 last year, the filing said.
