Samsung Electronics to open flagship store in Seoul's Gangnam district

Samsung Electronics Co. in late June will open its new flagship store Samsung Gangnam near Gangnam Station, a posh area of Seoul.

Sources from the information and communications technology sector on Thursday said the company is preparing to open the interactive-type store near Exit 10 of the station.

With one basement and five above-ground floors, the facility will display Samsung Electronics' mobile devices, TVs and household appliances and introduce a lifestyle featuring connection between products.

The company is known to have decided in 2018 to open the store and participated from the reconstruction stage of the facility's building, the exterior of which will reflect Samsung Electronics' identity.

Samsung Gangnam will serve as a playground for Generation MZ, a demographic comprising millennials and members of Generation Z. Visitors can hear anecdotes related to products and services, and a monthly session will have company executives and staff share tips on the jobhunting process and in-house activities.

Industry sources say the company is seeking to counter Apple's expansion strategy in the country.

The American tech giant is aggressively targeting the domestic market, having opened three flagship stores in Seoul between last year and this year and recently launching the simple payment app Apple Pay.

The Hong Kong-based global market research company Counterpoint Research said Samsung Electronics last year topped South Korea's smartphone market with a dominant 75% share.

Write to Ik-Hwan Kim at lovepen@hankyung.com