Samsung has jealously guarded its leading position in South Korea, the company's home country, but Apple has recently been making an effort to elevate its presence in the market. Naturally, this isn't something that Samsung is going to be too happy about.
While Apple has existed in the South Korean market for a long time now, this renewed push for increasing market share will doubt have set off alarm bells at Samsung. In a rather symbolic move, Apple has opened up a new retail store merely 15 minutes away from the headquarters of Samsung Electronics.
Samsung doesn't want to lose its home ground advantage to Apple
Last week, the Apple Gangnam retail store was opened near the Sinnonhyeon Station in Seoul. The location is merely a 15-minute walk away from Samsung Electronics HQ. Not only is the new store in Samsung's literal backyard, but the area itself is also a perfect fit for the type of customers Apple wants to attract.
Gangnam is a thriving district of Seoul with a high concentration of business people and younger audiences. Most of them prefer and have the capability to purchase high-priced gadgets. Apple's retail expansion in Seoul is far from over. It's going to open another store near Hongik University Station, a bustling nightlife spot commonly known as Hongdae, where throngs of young people descend for a great night out.
This will be Apple's sixth retail store in South Korea. To get a sense of the importance it's attaching to the retail presence here, there are only four cities in the world where Apple has more than six retail stores: London, Sydney, Toronto, and Shanghai. Apple has also followed in Samsung's footsteps and collaborated with a K-pop band to promote its products in South Korea.
Samsung is evidently concerned about Apple's renewed focus on its home market. The company's 360 stores across the country were previously called Samsung Digital Plaza. It's now changing the name to Samsung Store and will also provide more tailored customer experiences at each store.
Apple Pay's launch in South Korea has also pushed Samsung to collaborate with Naver Pay and it may reportedly enable Samsung Pay on its smartwatches as well. Samsung will no doubt be watching Apple's moves in its home market very closely and it's one of the few markets where the company would absolutely not want to concede an inch of its lead.
