Riding on Global Popularity of Korean Pop Culture
South Korean convenience store companies are expanding their business abroad. They are currently running more than 700 stores in Vietnam, Malaysia, Mongolia, etc.
GS25’s first overseas store opened in Vietnam in 2018, when CU opened its first overseas store in Mongolia. CU is currently running 280 in Mongolia and 130 in Malaysia. Its first store in Malaysia opened in April last year and its 100th store there opened in 15 months.
The number of GS25 convenience stores is 204 in Vietnam and 111 in Mongolia. emart24 opened in Malaysia in June last year and its number has increased to 30 so far.
Their successful business expansion has to do with the worldwide popularity of Korean pop culture and popular products identical to those sold in stores in South Korea. In addition, the companies are opening stores mainly in young areas more interested in South Korea, such as where colleges and offices are located.