By  on February 26, 2010

SEOUL—Hennes & Maurtiz will open its first store in South Korea over the weekend, ending a four-year search for the perfect location.

The nearly 28,000-square-foot-store is located in Seoul’s bustling Myungdong district, a hot spot for young Koreans and Japanese tourists. The area boasts a plethora of restaurants, cafes and retailers such as America’s Polo Ralph Lauren, Japan’s Uniqlo and Korean brands Beanpole and Spao.

About 1,250 Korean shoppers descended on the store for a pre-opening shopping party Thursday night. H&M chief executive Karl-Johan Persson sipped champagne along with actors Ji Jin-hee, Yun Eun-hye and pop singer Bada.

Hans Andersson, representative director for H&M Korea, said he thinks the Swedish retailer will succeed in the country despite the fact it’s a very competitive market with very fashionable local brands. The new H&M is almost next door to Spanish competitor Zara.

“We have nothing against competition. We love competition,’’ Andersson said, declining to give a sales forecast for the Korean flagship. “We have been successful in other capitals where the competitive is fierce, Paris, London, New York.’’

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