명동·부산 외국인 몰리는데...지누스 부진 아쉬운 현대백화점

Hyundai Department Store's core retail business is thriving with strong performance, but its Genius subsidiary's struggles from US tariffs are significantly offsetting gains from increased foreign visitor spending. Beyond tariff impacts, Hyundai faces a structural disadvantage: it lacks flagship stores in prime tourist zones like Myeongdong and Busan, preventing it from capturing international tourism revenue as effectively as competitors. This geographic positioning gap, combined with subsidiary headwinds, explains why Hyundai's consolidated earnings are lagging despite strong fundamentals in its main department store operations.