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The Hyundai Department Store Kintex is situated at 817 Hosu-ro, Ilsanseo-gu, Goyang-si, Gyeonggi-do, South Korea, adjacent to the Korea International Trade Exhibition Center (KINTEX). Opened in 2010, this 10-floor facility spans 85,000 sqm of gross leasable area and integrates with Lakens Mall, which includes a Homeplus hypermarket and Megabox cinema. It serves a primary catchment area of 1.2 million residents in Goyang City and Ilsan District, with secondary influence extending to the Greater Seoul Metropolitan Area.
The demographic profile features middle-to-upper-income families, with average annual household income around 80 million KRW and a median of 55 million KRW, supported by new high-rise developments boosting population density.
Tenant mix emphasizes premium and luxury retail, hosting 250 stores including anchors like Hyundai, Gucci, Prada, Ferragamo, Valentino, Burberry, Omega, and Cartier, focused on fashion, cosmetics, accessories, and home goods. A renovated underground food hall and food court offer diverse dining options, enhancing dwell time to 120 minutes. Annual footfall totals 6 million visitors, driven by KINTEX events attracting over 2 million annually, with daily estimates of 20,000-30,000 on weekdays and higher peaks.
Occupancy stands at 95%, with sales revenue in the 200-250 billion KRW range annually, though showing stagnation.
Rent levels average 150,000 KRW per sqm per year, with leases typically 3-5 years combining base rates of 10-15 million KRW per pyeong and 15-20% of sales, favoring high-margin luxury retailers.
Accessibility includes proximity to Daehwa and Juyeop subway stations on Line 3 (15-minute walk), airport buses, major roads, and 2,500 parking spaces, though walking distances may challenge elderly visitors.
Market position is solid as a luxury destination amid Goyang's urban growth and 0.2% population increase, but faces risks from e-commerce penetration (99% internet access), market saturation in apparel, and competition from nearby Lotte Department Store Ilsan Branch and Starfield Goyang.
Operational quality is high with full digital signage, 60% loyalty program adoption, and security via CCTV, yet mid-tier categories exhibit lower turnover and seasonal footfall dips outside events pose challenges for consistent performance.
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Hours of Operation
Hours
| Monday | 10:30 AM — 08:00 PM |
| Tuesday | 10:30 AM — 08:00 PM |
| Wednesday | 10:30 AM — 08:00 PM |
| Thursday | 10:30 AM — 08:00 PM |
| Friday | 10:30 AM — 08:30 PM |
| Saturday | 10:30 AM — 08:30 PM |
| Sunday | 10:30 AM — 08:30 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographic Profile
The primary catchment encompasses 1.2 million residents in Goyang and Ilsan, characterized by middle-to-upper-income households averaging 80 million KRW annually, with a median of 55 million KRW. Median age is 44 years, household size 2.3 persons, and 70% hold tertiary education. Retail spending per capita reaches 4,500 USD yearly, including 1,200 USD on apparel and 2,800 USD on groceries. Influx of high-rise apartments drives 0.2% population growth, enhancing purchasing power in this suburban area near Seoul, though economic ties to exports introduce sensitivity to global fluctuations. Unemployment is low at 3.5%, supporting stable family-oriented traffic, but cost of living index at 110 (Seoul=100) may temper discretionary spending compared to urban centers.
Competitive Landscape
Competition is medium to high within 10 km, including Lotte Department Store Ilsan Branch, Starfield Goyang, and premium outlets in Paju and Gimpo, leading to saturation in luxury and fashion categories. E-commerce exerts significant pressure with 99% internet penetration and 80% click-and-collect adoption, impacting physical sales. Competitor density in department stores is notable, with Hyundai Kintex differentiating via KINTEX synergy for event-driven traffic. Risks include oversupply from new developments and weak mid-tier performance, necessitating targeted marketing and unique tenant curation to maintain visibility and 25% conversion rate amid broader retail shifts.
Lease Terms and Risks
Lease structures offer 3-5 year terms with base rents of 10-15 million KRW per pyeong annually plus 15-20% of sales, providing flexibility for high-margin luxury operators and averaging 150,000 KRW per sqm yearly. Occupancy at 95% reflects strong demand, but 5,000 sqm available space indicates opportunities in underperforming categories. Risks encompass sales stagnation at 200-250 billion KRW yearly despite 12,000 USD per sqm sales density, seasonal footfall variability, and aging nearby infrastructure causing peak-time access issues. High e-commerce rivalry and 1.2% retail crime rate, mitigated by CCTV and guards, underscore need for robust promotions and digital integration to sustain operational quality.
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