Swedish home furnishings retailer IKEA has announced plans to open its first retail South Korean outlet on the outskirts of Seoul.
The retailer revealed that, it has bought a 78,198 sq. metre site in Gwangmyeong, a satellite town to the southwest of the capital.
IKEA prefers to call itself a home furnishings company rather than a furniture company, since around 50 percent of global sales are from non-furniture goods, said a company official.
The retailer has also still not decided on the product lineup or pricing for its store, the spokesperson revealed.
The store is expected to begin operations in around two years. IKEA has more than 287 stores in 26 countries.
Fibre2fashion News Desk - India
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