More Asian companies look to Korea for retail expertise

Hyundai Department Store employees at The Hyundai Seoul’s concierge desk are introducing services for Hankyu Department Store’s VIP customers. The two companies have collaborated in VIP marketing after sharing pop-up store expertise. (Hyundai Department Store)

Asian companies are increasingly turning to South Korea to learn retail strategies, even as Korean retailers face challenges from regulations and the rise of e-commerce. Korea’s marketing and sales techniques are drawing attention globally, and experts predict that more of the country’s retailers will expand their focus to international markets as growth at home stagnates.

Hyundai Department Store announced on Thursday that it is preparing to launch a second pop-up store in Shibuya, Tokyo in October 2024 via “The Hyundai Global.” This promotion will allow international retailers not only to learn from Hyundai Department Store’s expertise, made famous by its flagship location, The Hyundai Seoul, but also to showcase competitive Korean products.

Hyundai Department Store shared its expertise with Japan’s premium retailer, Hankyu Hanshin Department Store earlier in the year. Hankyu was particularly interested in The Hyundai Seoul’s design concepts, including large-scale rest areas, an expansive indoor garden promoting “retail therapy,” and its ability to host unique pop-up stores.

For its part, Shinsegae Department Store plans to open an off-price store, “Factory Store,” in Lao’s Vientiane, during the first half of 2025, with discounts will range from 30 to 80 percent off the original price. This collaboration came at the request of Kolao Group, Laos’ largest private company. Shinsegae will work with Kolao Group’s Grandview Property to supply K-fashion and beauty products at reasonable prices while enhancing Laos’ off-price retail capabilities.

Convenience store chain GS25 also recently became the first Korean retailer to participate in the Thaifex Food Expo that took place in Bangkok, Thailand.