Shinsegae's 'The Heritage' luxuriously preserves historic building

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Shinsegae's 'The Heritage' luxuriously preserves historic building

Published: 28 Apr. 2025, 16:45 Updated: 06 May. 2025, 14:36

Audio report: written by reporters, read by AI

Shinsegae Department Store's renovated ″The Heritage″ building in Myeongdong, central Seoul [SHINSEGAE DEPARTMENT STORE]

Upon entering the Chanel boutique in Shinsegae Department Store's new Myeong-dong branch in central Seoul, the first thing that catches the eye more than the luxurious goods on display are the tweed carpets, lined with the floral plaster reliefs on the ceiling.

The ornate latticework and decorative panels evoke a feeling of being in a grand European palace. These floral reliefs have adorned the building since it first opened in 1935 as the Chosun Savings Bank.

After serving as the headquarters of Standard Chartered Bank Korea, the building reopened on April 9 under a new name: "The Heritage," an annex of Shinsegae Department Store’s main branch, dubbed "The Reserve," located next door. Along with "The Reserve," "The Heritage" now serves as the department store's second luxury hall.

“When customers show interest in the ceiling or pillars, we explain that the building has been preserved and restored just as it was 90 years ago. They are always amazed,” said Seo Young-joo, a staff member at the Chanel boutique.

The Chanel boutique inside Shinsegae Department Store's renovated ″The Heritage″ building in Myeongdong, central Seoul [SHINSEGAE DEPARTMENT STORE]

Preserving a 90-year-old landmark

A major remodeling project launched in 2015 sought to retain the original form of the five-story building as much as possible, while outfitting it with modern amenities using today's materials and techniques.

For example, the central escalator connecting all five floors has been replaced with a cutting-edge system, but the elevator on the southeast side of the building maintains its original size and design. The semicircular bronze plate housing elevator functions from floors one to five has also been faithfully restored.

"About 90 percent of the building has been restored to its 1935 state," according to Shinsegae.

Records of the Chosun Savings Bank building when it was built in 1935 [SHINSEGAE DEPARTMENT STORE]

The building, distinguishable by its classical Greek Doric columns, survived the devastation of the Korean War (1950-53) and was designated a Seoul Metropolitan Government Tangible Cultural Heritage site in 1985. Along with the Shinsegae Department Store main building, constructed in 1930, it stands as a rare example of early modern architecture in Korea.

Shinsegae purchased the building from Standard Chartered Bank Korea for 85 billion won ($59 million), aiming to connect it with the department store's annex that was completed in 2005.

To proceed, Shinsegae underwent multiple rounds of reviews by the Seoul Metropolitan Government’s Cultural Heritage Committee. Throughout the remodeling, the company convened about 30 advisory meetings with experts in modern architectural heritage.

Shinsegae Department Store's renovated ″The Heritage″ building in Myeongdong, central Seoul [SHINSEGAE DEPARTMENT STORE]

“We conducted reviews more meticulously than for many national treasures," said Kim Jung-shin, an emeritus professor of architecture at Dankook University who participated in the consultations. "The restoration was faithful to the original structure while ensuring the building could still function as a commercial facility."

Restoring the past, blending with the present

The building underwent significant renovations in 1995 during its tenure as a bank, which partially damaged its original features. In this latest restoration, those elements were removed to bring the building closer to its original 90-year-old design.

Reproducing disused materials and sculpture techniques posed major challenges. To overcome this, the advisory team and Shinsegae staff visited 1930s-era buildings in France and Japan, such as the Meiji Seimei Kan in Tokyo’s Marunouchi district, to gather references.

Some traces from its days as Standard Chartered Bank Korea have been preserved. On the second floor of the Chanel boutique, an old wallpaper design featuring traditional Korean coins, known as sangpyeong tongbo, has been preserved behind a glass panel. Components removed during the restoration, including structural materials, are displayed in a showcase on the fourth floor.

Shinsegae Department Store's renovated ″The Heritage″ building in Myeongdong, central Seoul [SHINSEGAE DEPARTMENT STORE]

Although access to the boutique’s first and second floors is restricted, the fourth floor is open to all visitors, featuring elaborate chandeliers and stained-glass decorations that recall its days as a banquet hall. A section of the fourth floor also hosts exhibits of modern Korean artifacts from Shinsegae’s Commercial History Museum, including a vintage Shinsegae piggy bank. A three-meter-high (9.8 feet) steel safe door, originally located on the first floor, has also been installed there.

The fifth floor now houses "House of Shinsegae Heritage," showcasing traditional crafts such as bojagi (Korean wrapping cloth), further emphasizing the building’s historical significance.

Shinsegae Department Store's renovated ″The Heritage″ building in Myeongdong, central Seoul [SHINSEGAE DEPARTMENT STORE]

A new luxury destination grounded in history

Chanel, which now operates its largest Korean boutique in the building, spanning about 2,300 square meters, has highlighted the building’s heritage, calling it "a historic landmark established in Myeong-dong in 1935" and emphasizing "the value of heritage that Chanel has long upheld."

“The Namdaemun and Myeong-dong areas have been Korea’s commercial and cultural centers since the Japanese colonial period," said Kim Jung-dong, an emeritus professor at Mokwon University and an expert on modern architectural heritage. "This project successfully blends the preservation of old buildings with high-end retail marketing.”

Kim Jung-shin added, “The restoration reflects the expertise accumulated from previous projects such as the Culture Station Seoul 284 and the Bank of Korea Money Museum. It will serve as an important milestone for the future of modern heritage preservation, restoration and utilization.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY KANG HYE-RAN [[email protected]]