[Edaily Reporter SHIN MIN JOON ] The reconstruction project for the Galleria Department Store Seoul Luxury Mall, being pursued by HANWHA GALLERIA(452260), is expected to gain momentum. HANWHA GALLERIA has received a building permit from the local district office following the approval of its Seoul Luxury Branch reconstruction project by the Seoul Metropolitan Government’s Architectural Review Committee in May of this year. This development is set to give momentum to the ultra-high-end strategy of Kim Dong-seon, President of Future Strategy at Hanwha Machinery & Service Holdings (Hanwha M&S), which targets the top 1% of VVIPs.

According to the Ministry of Land, Infrastructure and Transport’s architectural administration system, “Seumteo,” on the 16th, Gangnam District approved the building permit for the reconstruction project of the Galleria Luxury Mall West Wing in Apgujeong-dong on the 15th. The project site is located at 494 Apgujeong-dong, Gangnam-gu, Seoul, with a lot area of approximately 3,074 pyeong (10,143.9 m²), a building area of approximately 1,766 pyeong (5,825.83 m²), and a total floor area of 26,776 pyeong (88,362.09 m²). The primary use is designated as retail facilities.

This building permit is understood to be a follow-up administrative procedure following the Seoul City Architecture Committee’s approval of the East and West Wing construction project last May. Although the Seoul Luxury Store reconstruction project still requires subsequent review and approval procedures—including detailed design, environmental impact assessment, and disaster impact assessment—the industry views it as having effectively cleared the biggest hurdle.

HANWHA GALLERIA’s Luxury Hall has previously been assessed as having size limitations compared to competing stores such as the #Shinsegae Co.,Ltd. Gangnam Branch and the HYUNDAIDEPARTMENTSTORECO.,LTD(069960) Apgujeong Main Store. However, HANWHA GALLERIA plans to significantly expand customer amenities—including retail space and parking facilities—to transform the Galleria Department Store Seoul Luxury Hall into a world-class luxury department store.

To this end, HANWHA GALLERIA has partnered with the world-renowned architectural firm Heatherwick Studio. Heatherwick Studio was founded in 1994 by British designer Thomas Heatherwick. The defining characteristic of Heatherwick Studio is its emphasis on spaces as experienced by people. Beyond a building’s function and appearance, the firm takes as its starting point the experience of Saramins—how they feel curious, walk through, and linger within the space.

Heatherwick Studio is participating not only in the renovation of the Galleria Department Store Seoul Luxury Branch but also in the Nodul Island and COEX reimagining projects. The newly reborn Galleria Department Store Seoul Luxury Branch features a unique hourglass-shaped design characterized by a curved façade. HANWHA GALLERIA plans to more than double the total retail floor area of the East and West Wings—currently approximately 8,800 pyeong (29,091 square meters)—to over 18,000 pyeong (59,504 square meters) through the reconstruction.

The reconstruction of the Galleria Department Store Seoul Luxury Branch is central to President Kim Dong-seon’s ultra-high-end strategy. President Kim, the third son of the Hanwha Group chairman who has embarked on a full-fledged independent path, is spearheading the future strategy of a newly established holding company that encompasses life solutions and tech businesses.

Hanwha M&S, spun off from Hanwha Corp.—the holding company of Hanwha Group—is broadly divided into the Life Solutions division (including retail and food & beverage) and the Tech division (including semiconductor equipment and robotics). The Life Solutions division includes HANWHA GALLERIA, Hanwha Hotels & Resorts, and Ourhome.

The Tech division consists of Hanwha Vision, Hanwha Semitek, Hanwha Momentum, and Hanwha Robotics, among others. Hanwha M&S comprises a total of 57 companies. Based on their consolidated financial statements as of the end of last year, these companies’ combined revenue totaled approximately 6 trillion won, with total assets reaching approximately 11.3 trillion won.

A HANWHA GALLERIA official stated, “This building permit will serve as a significant milestone in the successful reconstruction of the Galleria Luxury Mall,” adding, “We will strive to ensure the new luxury mall becomes a landmark representing Seoul by actively communicating with relevant agencies and the local community, as well as preparing for subsequent administrative procedures.”