What: Hyundai Department Store establishes dedicated K-fashion global business team and invests 30 billion won in Mediquarters to strengthen Japanese market presence.

Why it is important: The investment highlights the growing potential of K-fashion in global markets and the evolution of department stores into cultural export platforms.

Hyundai Department Store has elevated its K-fashion global business through organisational restructuring and strategic investment. The company has established The Hyundai Global team within its department store product division, transforming it from a youth team initiative into a dedicated business unit for nurturing global brands. A significant 30 billion won investment in Mediquarters, which manages local operations in Japan, represents the company's largest corporate venture capital investment to date. The strategy has already shown success through pop-up stores in Tokyo's Shibuya Parco, generating 3 billion won in sales over two and a half months, achieving 150% of target. This success builds on The Hyundai Seoul's domestic achievements, where K-fashion has helped drive annual sales to 1 trillion won within three years, while attracting increasing international customers, from 3% to 15% of visitors.

IADS Notes: Hyundai Department Store's K-fashion global expansion represents a significant evolution in retail internationalisation strategy. According to Korea JoongAng Daily's April 2024 coverage , The Hyundai Global platform was launched to help Korean brands reduce overseas expansion costs by 30% through comprehensive support services. The Korea Herald's March 2024 analysis revealed how this initiative specifically targets Japan as its first market, with successful pop-up stores in Shibuya Parco demonstrating strong market potential. Maeil Business Newspaper's November 2024 report showed how this expansion aligns with Hyundai's broader transformation strategy, including significant investments in new store developments and digital capabilities. MK.co.kr's September 2024 coverage highlighted how strategic partnerships, including the collaboration with Hankyu Department Store, create a comprehensive framework for international growth. The 30 billion won investment in Mediquarters and the success of The Hyundai Seoul, which achieved 1 trillion won in sales without luxury brands, validates this focus on K-fashion and cultural content as drivers of international expansion.

Hyundai Department Store invests 30 billion won in K-fashion startup Mediquaters