Shinsegae I&C Presents a New Vision for Future Retail Technology with CloudPOS at the EuroShop 2020

SEOUL, South Korea--(BUSINESS WIRE)--Shinsegae I&C (KRX: 035510) announced today that it will unveil a new vision for the future of retail technology at the EuroShop 2020, one of the largest global exposition on the retail business, set to take place in Dusseldorf, Germany for five days from February 16 – 20.

Shinsegae I&C, an affiliate of Shinsegae Group, is a company that specializes in retail technology. Shinsegae Group is one of Korea’s largest companies in the retail business that owns department stores, hypermarkets, duty free shops, convenience stores, and e-commerce and is one of the leading Korean conglomerates in the lifestyle business.

Shinsegae I&C exhibits a wide array of retail technology at EuroShop 2020, including the four key thematic items of CloudPOS (Cloud based POS) and Cloud Membership, Smart Vending Machine, Self-Checkout (SCO), and Shelf-Scanning Robot.

The leading product that Shinsegae I&C is highlighting at this exposition is CloudPOS which received a lot of attention at NRF 2020 held in January in the U.S. It is a cloud-based solution that offers POS technology essential to the retail business.

CloudPOS places various business logics of the POS such as credit card payment functions, mobile payment functions, membership services, and global payment services on the cloud server and allows corporate clients to pick and choose only the function they wish to use.

Shinsegae I&C’s Self-Checkout has been developed to take various payment methods including credit cards, cash, and gift cards, while the Smart Vending Machine will allow the sale of a wide range of products from fresh produce, cosmetics to smart devices. These items will be exhibited in the experience zone configured by theme.

Jeong hyun Sohn, Executive Vice President of Shinsegae I&C noted, “The retail technology business of Shinsegae I&C, such as CloudPOS, is the result of bringing together with the IT expertise and knowhow of Korean retail businesses. It is expected to bring about a positive change in the global retail business as well.”

“Shinsegae I&C, based on its innovative technology, will become a smart technology partner of retail businesses in joining the journey towards digital transformation and will grow to become a leading company in global retail technology in the 4th Industrial Revolution.”

For more detailed information about Shinsegae I&C, please refer to brochure: http://bit.ly/2uzSNQM