Shinsegae Department Store announced on the 23rd that it has signed a Memorandum of Understanding (MOU) with Tokyu Retail Management, an operating subsidiary of Japan's Tokyu Group, to exchange content and strengthen business models.

The signing ceremony held at the headquarters in Seocho-gu, Seoul, was attended by Jang Su-jin, Head of Product Division at Shinsegae Department Store, Park Sang-eon, Factory Manager, and Masamichi Hotta, CEO of Tokyu Retail Management.

Tokyu Group is a major Japanese corporation focused on railway and commercial facility operations, owning and operating landmarks such as Shibuya 109 and Shibuya Hikarie. Based on the commercial facilities near the Shibuya Scramble Crossing, which sees an average of 3 million people daily, Shinsegae has secured a foothold to directly target local customers and foreign tourists, including the MZ generation. According to the agreement, Shinsegae Department Store's curated platform, Shinsegae Hyperground, will operate a pop-up store at Shibuya 109 next month. Shinsegae Department Store stated that this pop-up will showcase K-fashion and K-beauty brands recognized for their growth potential in Korea and propose a new lifestyle to Japanese customers.

According to Shinsegae Department Store, Shinsegae Hyperground has previously held K-brand pop-ups in Thailand, Japan, Singapore, and Paris, proving brand expandability and global competitiveness. Through this agreement, the strategy is to not only advance Korean brands into Japan but also to bring Japanese fashion and character IPs into domestic pop-ups, thereby strengthening the mutual exchange model.

Jang Su-jin, Head of Product Division at Shinsegae Department Store, stated, “This agreement with Tokyu Group is an opportunity for Hyperground to expand to the next level,” and added, “We will continue to cooperate to get closer to customers in both Korea and Japan.”

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