"South Korea Has More Than All McDonald's Worldwide Combined" - Foreign Media Spotlight on Korean Industry

CNN Highlights South Korea's Convenience Store Industry
"One-Stop Stores Offering Various Services as a Differentiator"

The globally growing Korean convenience store industry has attracted attention from foreign media. On the 18th (local time), the US CNN broadcast highlighted Korea in a Seoul-based article.

The Korea Convenience Store Industry Association announced that as of the end of last year, the number of convenience stores nationwide exceeded 55,200. This equates to one store per 950 people, surpassing Japan, which was known as a 'convenience store powerhouse,' in terms of stores per capita. Sales have also grown to a level exceeding traditional supermarkets and department stores. CNN stated, "The number of convenience stores in Korea is greater than the total number of McDonald's outlets worldwide," and mentioned that Korean convenience store companies are expanding overseas based on their domestic success.

Korea's three major convenience store brands?GS25, CU, and Emart24?operate stores in Southeast Asian countries such as Vietnam and Malaysia.

A convenience store in Seoul [Image source=Yonhap News]

CNN explained that the situation differs from the US, where convenience stores are mainly located next to gas stations or in busy areas and are hard to find in residential neighborhoods. In large cities like Seoul, convenience stores are located in every corner of alleys, and sometimes competing stores are clustered on the same street.

CNN attributed the growth of convenience stores in Korea to factors such as the increase in single-person households and urban population concentration. Unlike large families, single-person households prefer convenient ordering through convenience stores or online, and the COVID-19 pandemic also contributed to this trend.

Additionally, CNN highlighted the 'one-stop shop' feature as a distinguishing factor of Korean convenience stores. Customers can charge their mobile phones, pay utility bills, and place online orders. Some stores even offer electric scooter charging, currency exchange, and international mail services. Various foods can be easily eaten at seating areas inside the stores. It is not an exaggeration to call it a magical workspace where anything can be done.

CNN added that convenience stores have become part of the Korean Wave phenomenon, gaining popularity on social networking services (SNS). Korean creator 'Jini Maeng,' active in Australia, said, "Even in Sydney where I live, many stores close at 3 p.m.," and added, "For people accustomed to these Western-style stores, buying ramen at a convenience store and cooking it immediately is astonishing."