Emart Partners with KOTRA to Expand Exports of Domestic Small and Medium Enterprise Products

Emart announced on the 27th that it has signed a "Business Agreement to Support Overseas Expansion of Emart and Emart Partner Companies" with KOTRA (Korea Trade-Investment Promotion Agency). The signing ceremony held at KOTRA headquarters was attended by Emart CEO Kang Hee-seok and KOTRA President Yoo Jung-yeol, among others.

On the 27th, KOTRA and Emart held a "Business Agreement Ceremony to Support Overseas Expansion of Emart and Emart Partner Companies" at the KOTRA headquarters in Seocho-gu, Seoul. From the left, Yoo Jung-yeol, President of KOTRA, and Kang Hee-seok, CEO of Emart.
[Photo by Emart]

Following this agreement, KOTRA plans to identify suitable partners for Emart's overseas franchise business expansion through its 129 trade offices in 84 countries worldwide, providing consultation and communication support. Emart intends to actively promote the export of excellent domestic small and medium-sized enterprise (SME) products by expanding its overseas franchise stores.

The background of this business agreement between KOTRA and Emart is that Emart's overseas franchise stores have served as a foothold for exporting excellent domestic SME products.

As of last year, 433 SMEs are exporting approximately 6,100 products through Emart's overseas franchise stores, amounting to 10.3 billion KRW. Considering that the total export amount through overseas franchises is 18.2 billion KRW, about 60% of the sales come from SMEs.

In fact, among the top 20 No Brand products exported through Emart's overseas franchises last year, nine products from five SMEs are included. No Brand Yuja Tea by Seogwang F&B ranked 3rd with export sales of 220 million KRW, No Brand Thick Wet Wipes (100 sheets) by Hanul Herb Farm ranked 5th with 210 million KRW, and No Brand Gorgonzola Cheese Soft Cone (150g) by SDC Co., Ltd. ranked 7th with 160 million KRW.

Currently, Emart operates large-scale Emart stores in Vietnam and Mongolia, and No Brand specialty stores in the Philippines through franchise partnerships with local companies. There are two Emart stores in Vietnam and three in Mongolia, with plans to open one additional store in each country this year. In the Philippines, there are 18 No Brand specialty stores, and two more will be added this year, bringing the total to 20 stores.

Emart CEO Kang Hee-seok stated, "Emart's overseas franchise stores have established themselves as an important platform that opens export channels for excellent domestic SME products," adding, "Through this agreement, KOTRA and Emart will join hands to create a win-win growth model that can introduce SME products to more countries."

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