What you need to know
- Apple is planning on opening its second retail location in South Korea.
- Apple Yeouido will be located in Seoul's financial district.
Reported by MacRumors, Apple is preparing to open its second retail location in South Korea. The store will be located in Seoul's financial district.
The store, which will have a home in the IFC Mall, is being marketed by the company with wallpapers and an animation on its store website (opens in new tab). Soon-to-be customers can download the wallpapers for their iPhone, iPad, and Mac.
Apple Yeouido will be located in the IFC Mall, which is in Seoul's financial district by the Han River. Apple has shared wallpapers and an animation on its website to announce the opening of Apple Yeouido. Apple's first retail store in South Korea, Apple Garosugil, opened in 2018 in Seoul's Gangnam area. Apple Garosugil was the first Apple Store outside China to reopen earlier this year.
The report notes South Korea's importance as a place for market share expansion for Apple, which currently only holds 19% of the smartphone market in the country.
South Korea is an increasingly important territory for Apple, with the company looking to expand its market share in the country. Apple currently owns just 19 percent of the market in South Korea, according to The Korea Herald. Native company Samsung dominates the smartphone market in the country at 67 percent.
The opening of Apple Yeouido (opens in new tab) is a clear signal that Apple plans to invest long-term in South Korea.
