AAPL Apple Inc

By Jonathan Cheng 

SEOUL-- Apple Inc. says it is planning to open its first retail store in South Korea, moving onto the home turf of smartphone rival Samsung Electronics Co.

Apple, which marks the 10th anniversary of the introduction of its iPhone this year, said Friday that the company is "excited about opening our first Apple Store in Korea," praising the country as "a leader in telecommunication and technology."

A company spokeswoman declined to comment on the timing of a store opening, nor on where any Apple stores would be located in South Korea. But people familiar with the matter said in September that the company has looked at sites in the upscale Gangnam neighborhood in Seoul.

One potential location is within a stone's throw of Samsung's longtime headquarters in Gangnam, where Samsung has a three-story global flagship store, these people said. They also said Apple was also scouting a site on the fashionable Garosu-gil shopping street in the neighborhood.

A Samsung representative didn't immediately respond to a request for comment.

South Korea, Asia's fourth-largest economy, has long been a tough market for Apple. Smartphone sales are dominated by hometown favorites Samsung and LG Electronics Inc., who together account for about 80% of the smartphone market in the country. Apple doesn't break out sales for South Korea separately.

In South Korea, Apple relies on carrier partners and third-party retailers who apply for licenses to operate as authorized Apple vendors.

On Friday morning, the Cupertino, Calif.-based company posted job openings on its website for 15 new positions in South Korea, including for a "store leader."

"We're now hiring the team that will offer our customers in Seoul the service, education and entertainment that is loved by Apple customers around the world," the Apple spokeswoman said in a statement.

Sun Lee contributed to this article.

(END) Dow Jones Newswires

January 05, 2017 23:49 ET (04:49 GMT)

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