Shinsegae (Korean: 신세계) is a South Korean department store franchise, along with several other businesses, headquartering in Seoul,South Korea. The name of Shinsegae literally means “New World” in Korean. Its flagship store in Centum City, Busan, is the world’s largest department store, surpassing the Macy’s department store in New York City in 2009. Shinsegae is also famous for its long history. The main branch of Shinsegae is the oldest department store in Korea.