SPC Samlip Signs Business Agreement with H Mart to Expand U.S. Bakery Market

SPC Samlip announced on the 9th that it has formed a partnership with H Mart, the largest Asian distribution channel in the United States, to expand its presence in the U.S. bakery market.

At the 'SPC Samlip-H Mart Strategic Business Cooperation Agreement Ceremony' held on the 3rd at Queens Park in Cheongdam-dong, Gangnam-gu, Seoul, (from left) Heo Hee-su, Vice President of SPC Group, and Brian Kwon, CEO of H Mart, are posing for a commemorative photo. Photo by SPC Samlip

On the 3rd, SPC Samlip signed a business agreement with H Mart at Queens Park in Cheongdam-dong, Gangnam-gu, Seoul, and held multifaceted discussions with H Mart officials to expand the U.S. bakery market.

This business agreement was promoted as the needs of the two companies aligned to introduce Korean bakery products to the U.S. market amid the global rise in interest in Korean food driven by the K-food wave.

H Mart is the largest Asian distribution channel in the U.S., generating approximately 4.3 trillion KRW in sales (as of the end of last year), operating a total of 120 large supermarkets and grocery stores across the U.S., Canada, and the United Kingdom.

SPC Samlip plans to jointly develop bakery products with H Mart and distribute and sell them through H Mart’s U.S. channels, with plans to expand the product lineup to include food items in the future. Additionally, SPC Samlip will participate as a strategic product supply partner in H Mart’s new overseas distribution channels.

An SPC Samlip official stated, “Through partnerships with global large-scale distribution channels, we will actively expand the U.S. bakery market and promote our global business. Based on the best bakery technology in Korea, we will introduce trend-leading products and aggressively target overseas markets.”