Shinsegae (, ) Shinsegae (Korean: 신세계, ) is an South Korean department store, along with many other businesses, headquartered in Seoul, South Korea. The name Shinsegae literally means "New World" in Korean. Its flagship store in Centum City, Busan, was the world's largest department store at , surpassing Macy's flagship Herald Square in New York City in 2009.
Shinsegae was originally part of the Samsung Group chaebol, separated in the 1990s from the Samsung Group along with CJ Group (Food/Chemicals/Entertainment), Saehan Group (Electronic Media/Apparel/Textiles), and the Hansol Group (Paper/Telecom). The chairman Lee Myung-hee is the daughter of Samsung founder Lee Byung-chull and younger sister of the chairman of Samsung Electronics Lee Kun-hee.
The group owns the brands Shinsegae and E-Mart, and is in direct competition with Lotte Shopping and Hyundai Department Store Group. Currently, it is the largest retailer in South Korea.