GS Retail Designated as 'Specialized Trading Company'... Exporting 'K-Handcrafted Beer' to Germany

Products from small and medium-sized enterprises supported for export by GS Retail are being sold through local ParknShop stores in Hong Kong.
(Photo by GS Retail).

Full-Scale Launch of Overseas Market Expansion and Export Support Projects for SMEs
Promotion of K-Craft Beer Exports to Germany as Part of Support for Small Craft Breweries
Joint Export Consultation with Korea International Trade Association... Supporting Overseas Expansion of 13 SME Products

[Asia Economy Reporter Yuri Kim] GS Retail announced on the 13th that it has obtained the status of a 'Specialized Trading Company' on the 1st and will fully launch projects to discover overseas sales channels and support exports for small and medium-sized enterprises (SMEs).

A Specialized Trading Company is a company designated by the Minister of Trade, Industry and Energy for excellence in export capabilities. Companies that meet requirements such as an average annual export performance of over 1 million USD in the past three years and an export ratio of SME and mid-sized company products of over 20% are given opportunities for new designation.

GS Retail's cumulative export performance over the past three years is 7.1 million USD, averaging about 2.36 million USD annually. Among the approximately 500 export items, GS Retail's own brand 'Yours' products and excellent SME products account for 87%. The export target countries, initially centered on Asia, have diversified to 25 countries including North America, Europe, and South America.

GS Retail plans to focus on export support projects for SMEs lacking export experience and overseas networks, fulfilling its role as a 'Specialized Trading Company.' As part of this, it is conducting a project to export 'K-Craft Beer' to Germany, the birthplace of beer. In March, GS Retail added liquor import-export business to its business objectives as a stepping stone to support overseas exports of craft beers produced by domestic small breweries.

The export items include craft beers such as 'Gyeongbokgung' and 'Seongsan Ilchulbong,' launched as the Landmark Series in collaboration with domestic craft beer breweries by convenience store GS25, which are scheduled to be exported by the end of this month and sold through local supermarkets in Germany. Following craft beer, projects to expand exports of traditional Korean liquors such as Makgeolli and Soju to Europe and across Asia are also planned.

A 'Joint Export Consultation' with the Korea International Trade Association will also be held to assist excellent domestic SMEs in entering overseas markets. On the 20th, GS Retail will host a three-party video export consultation involving 13 SMEs selected in the first round and overseas buyers from Vietnam, Hong Kong, Singapore, and other countries. GS Retail plans to export the products of the SMEs finally selected through the consultation by the end of September. A large-scale promotional event will also be conducted to ensure the successful establishment of export products in overseas markets.

GS Retail stated, "We expect that the SME export support project promoted as a 'Specialized Trading Company' will become a new avenue for mutual growth and co-prosperity," adding, "It will also have the effect of further strengthening ESG (Environmental, Social, and Governance) management."

Lee Ki-chul, head of GS Retail's Overseas Sourcing Team, said, "The export performance for the first half of this year has already exceeded 80% of last year's annual performance, and we expect to achieve the highest export results ever by the end of the year," adding, "GS Retail plans to actively utilize the status of a Specialized Trading Company as a core pillar of ESG management by leading support for SMEs' overseas expansion and promoting mutual growth and co-prosperity."

This content was produced with the assistance of AI translation services.