IKEA Korea announced on April 20 plans to open three new outlets by 2027 in Incheon, Daegu and Daejeon. The company reported fiscal year sales ending August 2025 rose 2.2 percent to 639.3 billion won. It will launch a next-day delivery service later this month.
IKEA Korea currently operates six stores: one in Seoul, three in the surrounding metropolitan area, and two in the regional cities of Busan and Gwangju. The company announced in a press release that new outlets will open in Incheon, Daegu and Daejeon by 2027 to bolster its market presence and sales growth.
Sales for the fiscal year ending August 2025 increased 2.2 percent year-on-year to 639.3 billion won (US$434 million), driven by an omnichannel strategy including website, mobile app and phone orders. Online sales made up 13 percent of total revenue. Chief Executive Officer Isabel Puig said at a press conference, "As IKEA Korea marks its 11th year in the market, we are focused on strengthening our foundation for future growth. By expanding our footprint, enhancing our omnichannel capabilities and improving services, we aim to become more integrated into customers' everyday lives."
Korean consumers increasingly research products online, including via YouTube, before buying in physical stores. In response, IKEA Korea opened its first Seoul store, IKEA Gangdong, last year in a shopping mall, diverging from the traditional standalone "blue box" format. Four of its six existing stores -- in Gwangmyeong, Goyang, Giheung and Busan -- follow the blue box concept.
Puig noted that since 2023, the company has run 13 pop-up stores in various formats to gauge Korean preferences. To boost convenience, IKEA Korea will introduce next-day parcel delivery later this month and expand home delivery with flexible slots and options. "A life in Korea I learned during the last three years is that (it is) always very busy, and there needs to be a solution -- the delivery needs to be a solution, not a problem," she said.
