[THE INVESTOR] Shinsegae Group is awaiting final confirmation from Tesla Motors to open its first Korean dealership in Starfield Hanam shopping mall, officials said on Aug.4.

“It is true that talks are ongoing between Shinsegae and Tesla Motors, but we have yet to reach a deal. We are still waiting for the final go-ahead,” said Choi Kyu-wook, a Shinsegae spokesman.

 

Starfield Hanam in Gyeonggi Province is scheduled to open this September as the nation’s largest complex shopping mall. Earlier this week, it was confirmed that Tesla Motors would be opening branches in Hanam and Gangnam of Seoul as early as November.

The deal would be a win-win for both sides, industry watchers say. Tesla would get access to one of the most high-end shopping areas in Korea, while Shinsegae would receive recognition for housing the upscale carmaker that counts celebrities among its clients.

Shinsegae Vice Chairman Chung Yong-jin was the first Korean to purchase one of Tesla’s cars -- the Model S - back in 2014.

By Kim Ji-hyun (jemmie@heraldcorp.com)