GS Retail Wins 10 Million Dollar Export Tower Award

80% of GS25 Export Partners Are Small and Medium-Sized Enterprises Among 93 Collaborators

GS Retail, the operator of convenience store chain GS25, announced on December 4 that it received the "10 Million Dollar Export Tower" award at the 62nd Trade Day ceremony.

GS25 began exporting with a volume of 200 million KRW in 2017, received the "3 Million Dollar Export Tower" in 2020, the "7 Million Dollar Export Tower" in 2022, and this year has been awarded the "10 Million Dollar Export Tower."

IP collaboration products between GS Retail and Netflix launched at ParknShop in Hong Kong. Provided by GS Retail

This year, GS25 recorded export sales of 15 billion KRW as of the end of last month. Compared to its first year of exports, the export volume has grown by approximately 75 times. The number of export items has expanded from about 40 in 2017 to about 600 this year, a 15-fold increase. The number of export destinations has also diversified to around 33 countries, including the United States, Japan, and the United Kingdom, as well as regions such as North America, Europe, Central and South America, the Middle East, and Asia.

Major export items include GS25’s private label brands such as Yours and Real Price, as well as collaboration products with Netflix. The company explained that products that became hits in Korea have been introduced overseas through social media, resulting in a surge of import requests from international partners.

GS25 has laid the foundation for remarkable export growth by expanding its export and sales channels from primarily overseas local supermarkets to major shopping platforms in various countries. A representative example is the successful export of Yours and collaboration products to Don Quijote, a leading variety store in Japan, in May. GS25 export products are now officially available at Don Quijote stores nationwide in Japan, and discussions are actively underway to expand export items such as private label ramen. This year, the top export destinations for GS25 were Japan, the United States, and the United Kingdom, in that order.

Among the 93 companies that collaborated with GS25 for its export business this year, small and medium-sized enterprises accounted for as much as 80%.

GS25 plans to accelerate its growth into a global brand by continuously strengthening its capabilities in brand and product exports.

Park Jihwan, Head of Export-Import Merchandising at GS Retail, stated, "GS25, representing K-convenience stores, has expanded its export product lineup and achieved the milestone of winning the 10 Million Dollar Export Tower. Strengthening our brand and product export capabilities will serve as a critical momentum for the convenience store industry to expand from being perceived as a domestic business to becoming a truly global industry."

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