CU Surpasses 500 Global Stores... Over 100 Million Local Visitors

2018 Mongolia · 2021 Malaysia
Planned Expansion to Kazakhstan in Early Next Year

CU announced on the 23rd that it has become the first in the industry this month to surpass 500 global stores, setting a record of 100 million customers visiting annually at local stores.

CU entered Mongolia in 2018 and Malaysia in 2021, consecutively, holding the largest number of overseas stores among domestic convenience store chains. In the first half of next year, it will also open its first store in Kazakhstan, the first in the global convenience store industry. The global 500-store milestone was CU's goal for the end of this year, achieved one month ahead of schedule.

The number of CU stores in Mongolia has steadily increased from 21 stores in 2018, 56 in 2019, 103 in 2020, 163 in 2021, 285 in 2022, to 370 stores as of November 2023. Malaysia has also expanded its presence with 46 stores in 2021, 128 in 2022, and 140 this year.

This year, the average daily customer count in both countries is about 750, amounting to approximately 10 million visitors per month and about 100 million annually, establishing CU as a landmark that has captured the hearts of local customers. After reaching 500 stores this month, the number of visitors next year is expected to exceed 150 million annually.

Thanks to this popularity, CU Mongolia's annual sales have increased by 12%, and CU Malaysia's sales have also risen by 10.5%, showing strong performance despite the global economic downturn.

CU Malaysia Store
Photo by BGF Retail

The reason for CU's popularity overseas is that it provides a space to experience Korean culture, performing various functions such as restaurants, cafes, and convenience facilities, offering a new shopping experience that did not exist before. Korean products, including CU's private brand (PB) items, account for as much as 50% of total sales at overseas stores, reflecting high preference.

The CEO of BGF Retail said, "The record of 500 global stores and 100 million annual visitors is the result of CU's professional business capabilities, organic cooperation with partners, and full support of K culture," adding, "CU will continue to expand its presence to further elevate the status of Korean convenience stores in the global market."