Shown above is Shinsegae Simon’s Yeoju outlet near Seoul, which opened in 2007. Photo courtesy of Shinsegae Simon

Korea-US joint venture appreciates members’ affection

Offline retailers have struggled to find their feet over the past few months due to the COVID-19 novel coronavirus, which caught the world off guard this year.

However, not all the players languished. Some managed to find a way to grapple with the crisis as amply demonstrated by Shinsegae Simon that operates four premium outlets in South Korea.

The Seoul-based joint venture said on June 3 that members of its membership program increased purchases around 20 percent in February and March from a year ago. The entity has put forth great efforts to increase its members during the past several years.

South Korea suffered from the pandemic most in the two months when the country was the second-largest COVID-19 cluster in the globe after China. Back then, the daily infection even topped 1,000.

To appreciate them, Shinsegae Simon plans to hold various events overs its “Members’ Days” during June 5-7.

Various benefits, including the substantial amount of discounts, will be offered to its members as well as its mobile application users during the three-day event.

We think that we have to express our appreciation to our customers, who have shown such big affection and interest to us,” a Shinsegae Simon official said. “We will continue to hold a set of programs, which will benefit our clients.”

Shinsegae Simon is the joint venture between South Korea’s primary retail conglomerate Shinsegae Group and Simon Property Group, the foremost real estate company in the United States.

Shinsegae Simon, which is led by CEO Cho Chang-hyun, opened its first outlet in Yeoju near Seoul in 2007. The outfit also launched two outlets in Paju and Siheung in 2011 and 2017, respectively.

Shinsegae Simon’s Busan outlet started in 2013. Busan is South Korea’s No. 2 city located in the country’s southeastern area.