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Korea’s Department Store Sales See Highest Growth in 25 Years

The Hyundai Seoul. Hyundai.
The Hyundai Seoul. Hyundai.

Sales at South Korean department stores increased 34 percent year-on-year in February, marking the largest rise since 1996, according to data from Statistics Korea as reported by The Korea Times.

The country’s retail sales index, which reflects consumption trends, also recovered to near pre-pandemic levels during February, when it stood at 115.2. In December of 2019, one month before the first case of Covid-19 was detected in Korea, that same figure was 116.2.

February was a blockbuster month for Korean department stores partly because of the Lunar New Year holiday, but also due to the opening of Hyundai Seoul, the largest department store in the capital, along with a bout of warmer weather, which lured people out of their homes.

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