BGF Retail Wins 10 Million Dollar Export Tower Award

Number of Export Products Reaches 1,000 This Year
Majority Supplied by Domestic SME Partners

BGF Retail, the operator of the convenience store chain CU, announced on December 4 that it has received the '10 Million Dollar Export Tower' award at the 62nd Trade Day ceremony.

The Export Tower is an award presented by the Korea International Trade Association to companies that have contributed to pioneering overseas markets and expanding exports, based on export performance from July of the previous year to June of the current year.

CU Hawaii store exterior. Photo by BGF Retail

Previously, BGF Retail received the 1 Million Dollar Export Tower in 2019 and the 5 Million Dollar Export Tower in 2022. This year, the company achieved export performance exceeding 10 million dollars, earning the corresponding award.

The number of export products from BGF Retail increased from around 50 in 2019 to about 300 in 2022, and this year, it has grown to approximately 1,000. Popular export items include fresh fruit highball, Yonsei cream bread series, and GET latte powder.

BGF Retail is implementing export strategies tailored to the characteristics of each country. For countries with overseas CU stores, such as Mongolia, Malaysia, and the United States, the company supplies products needed for store operations, as well as equipment, fixtures, and consumables. In countries without CU stores, BGF Retail exports CU private brand and outstanding small and medium-sized enterprise products through direct transactions with local distributors, while also seeking additional store entry opportunities.

The majority of export products are supplied by domestic small and medium-sized enterprise partners.

In addition to product exports, BGF Retail is diversifying its export portfolio by increasing the proportion of service exports, such as IT systems.

Won Hwiyeon, Head of the Global Trading Team at BGF Retail, said, "Winning the 10 Million Dollar Export Tower is a result of BGF Retail's accumulated global operational expertise and the competitiveness of K-products being recognized. Moving forward, BGF Retail will further strengthen the presence of K-convenience stores in overseas markets through active global expansion and close partnerships with domestic SME partners."

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