​First Apple store to open in Korea: Report

Apple is reportedly preparing to open its iconic namesake store in South Korea for the first time.

Apple is preparing to open South Korea's first Apple Store and has signed land contracts in one of the country's go-to places, local media ChosunBiz reports.

Citing unnamed sources, the report says Cupertino, via its regional office in South Korea, signed three long-term lease contracts for land in Garosu Road, Sinsa-dong, Gangnam District in Seoul for the country's first Apple Store, with the contract was overseen by its headquarters.

The contract was signed on February 29 this year. The lease for the land will last from March 1 2016 to February 29, 2036.

Apple will likely build a two- to three-story store there, the report said. The iPhone maker has reviewed different locations to set up the store since last year.

The report did not mention when the firm will begin construction.

The company currently sells the phone in the country via a local partnered seller.

Neighboring China and Japan have Apple Stores. South Korea has been off the list of first tier launches of iPhones, with consumers complaining over relatively poor AS from Apple.

Korea is also where Apple sells the least iPhones in East Asia, as it is dominated by local brand Samsung.

Meanwhile, the latest iPhone 7 is riding high in sales, partly due to rival Galaxy Note 7's recall, and may sell up to 100 million units by the end of the year, analysts say.

Official sales date and price details for the handset in South Korea have not yet been announced.

Apple was unavailable for comment.

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