Hyundai Motor to open Genesis brand stores nationwide

[THE INVESTOR] Hyundai Motor plans to open some 10 Genesis brand stores nationwide in its latest upscale push as a luxury car maker.

The first store is expected to open at Shinsegae Group’s new shopping center Starfield Hanam in Gyeonggi Province in September. The venue is also rumored to have hosted the nation’s first store of the iconic electric car maker Tesla.

Other stores are also said to be located in posh districts in Seoul and major cities around the country. 

Hyundai has been making a big push to appeal to luxury car drivers under the leadership of Hyundai vice chairman and heir apparent Chung Eui-sun. In November last year, the company announced the Genesis brand to combine its high-end car models.

Thus far, two Genesis models -- G80 sports sedan and EQ900 luxury limousine -- have been launched. In the first half of this year, 34,411 Genesis vehicles were sold.

Hyundai aims to separate the Genesis brand completely by 2020 when it completes the car lineup ranging from a compact sport utility vehicle, called G70, next year to upcoming new models such as a larger SUV and a sports coupe.

By Lee Ji-yoon (jylee@heraldcorp.com">jylee@heraldcorp.com)