South Korean retailers bank on megamalls to battle online giants

Department store chains look to woo customers with restaurants and waterfalls

Lotte Department Store's branch in Dongtan features over 100 restaurants in the lower floors. (Photo by Kotaro Hosokawa)

KOTARO HOSOKAWA, Nikkei staff writer

August 30, 2021 04:10 JST

SEOUL -- South Korea's three biggest department store operators have recently opened massive new shopping complexes, complete with indoor parks and scores of restaurants, in a last-ditch bid to win back customers from online retailers.

Shinsegae opened its newest location, the Shinsegae Art & Science, in the city of Daejeon on Friday. At the cost of 650 billion won ($555 million), it is the first mega development for the company in five years.