Apple Says Second Retail Outlet In South Korea Coming Soon

Apple Inc AAPL is opening its second retail store in South Korea in Seoul’s business district of Yeouido. 

What Happened: The Tim Cook-led company made the announcement of the store opening on its website.

The new store is located in the IFC mall located on an island in the Han river. The store can be accessed through a glass pavilion located near Yeouido Park, according to 9to5Mac.

Why It Matter: The store is Apple’s second retail outlet in South Korea and its capital. 

In April, the company’s other retail location in Seoul became the first to open its shutters outside of China after the tech giant initially closed its outlets in response to the COVID-19 pandemic.

Apple’s Yeouido store will follow pandemic related safety protocols such as reducing capacity and requiring masks, 9to5Mac noted.

The Cupertino-based tech giant runs over 500 retail stores in 25 countries and regions, according to Macrumors.

The second retail outlet in South Korea comes following a string of new product launches by Apple this year, including M1 chip-based Mac computers, 5G-enabled iPhone 12, iPad, and Apple Watch.

Price Action: Apple shares closed nearly 0.5% higher at $116.59 on Friday and fell 0.13% in the after-hours session.