Apple to open sixth store in S.Korea

Apple Inc. said on Monday that it will open its sixth store in South Korea on Dec. 9. 

The new store will be located in the Starfield Hanam shopping mall, a large shopping center just east of Seoul, in Gyeonggi Province.

This is Apple's first store in South Korea outside of Seoul. The company opened its fifth store, Apple Gangnam, in March this year.

In recent years, Apple has been on a drive to increase its South Korean market presence. Over the past year, the company has launched three stores, including Apple Myeongdong, Apple Jamsil, and Apple Gangnam.

With the inauguration of the Hanam store, the count of Apple stores in South Korea will rise to six, exceeding the number in Japan, traditionally Apple's stronghold.

Apple's strategic retail expansion in South Korea targets a growing market opportunity among the youth. Despite the dominance of Samsung Electronics Co. in its home market, iPhones are the preferred choice for seven out of ten young Koreans, indicating a strong base of Apple aficionados.

According to Gallup Korea in July shows that 65% of 18 to 29-year-old consumers in South Korea chose iPhones, whereas 35% opted for Galaxy phones.

Apple is also preparing to open its seventh Korean store near Hongdae Station, a hub of shopping and entertainment in Seoul.

"Apple was slow to enter the South Korean market because of its relatively small market share compared to Japan and China," an industry source said. "But now that the company has established a presence in major cities across Asia, South Korea is becoming a new investment destination."

Write to Ye-Rin Choi at rambutan@hankyung.com