'Korea Grand Sale' until the 29th of next month
Discounts for foreign tourists at Olive Young, Missha, Chicor, etc.
'Foreigners-specialized' Olive Young Myeongdong Town store popular among tourists
Over 2,000 visitors daily... Expecting a K-beauty boom
On the 11th, Olive Young Myeongdong Town store in Seoul was bustling with foreigners shopping for Korean beauty products. According to Olive Young, over 90% of the customers visiting the Myeongdong Town store are foreigners. Considering that the store receives about 3,000 visitors daily, this means that more than 2,000 foreign tourists visit the store every day. On this day as well, most of the customers in the store were foreign tourists, and English, Japanese, and Chinese could be heard throughout the store. Most tourists filled their shopping baskets with cosmetics and skincare products from domestic companies. A representative from Olive Young explained, "Mask packs and sunscreen are the main products at the Myeongdong Town store," adding, "Recently, with the popularity of K-pop and K-dramas, the purchase of color cosmetics (makeup) has also noticeably increased."
The store design, considering the convenience of foreign customers, was also notable. The store shelves were installed with ample space, and a separate resting area was provided on the second floor to enhance the shopping convenience for tourists. More than 10 checkout counters were installed to reduce waiting times. Multilingual signs were placed throughout the store, and announcements were made in multiple languages on the in-store LED screens. There was also duty-free purchase guidance for foreign tourists. According to Olive Young, staff who can speak English, Japanese, and Chinese were assigned to the Myeongdong Town store.
Minister of Culture, Sports and Tourism Yoo In-chon (center) and Lee Boo-jin, Chairperson of the Korea Visit Year Committee (CEO of Hotel Shilla, left), are listening to an explanation from a store official at the Olive Young Myeongdong Town store located in Myeongdong, Seoul, on the morning of the 11th. [Photo by Lee Myung-hwan]
The domestic beauty industry is launching various discount events targeting foreign tourists in conjunction with the Korea Grand Sale.
According to the industry on the 12th, the "2024 Korea Grand Sale" will be held until the 29th of next month. The Korea Grand Sale is a shopping and cultural tourism festival held since 2011, based on the participation of various private companies in airlines, accommodations, shopping, and more, to attract foreign tourists and promote tourism consumption during the low season for inbound tourism in January and February.
About 1,650 companies, including major domestic distribution, accommodation, and airlines, are participating in this year's Korea Grand Sale, with domestic beauty companies also joining. As content such as K-pop and dramas gain popularity on the global stage, the domestic beauty industry is also promoting "K-Beauty" to foreign tourists. After the opening ceremony the day before, Minister Yoo In-chon and Chairwoman Lee Boo-jin of the Korea Tourism Year Committee (CEO of Hotel Shilla) visited the nearby Olive Young Myeongdong Town store to inspect the shopping scene of foreign tourists.
The Olive Young Myeongdong Town store visited by Minister Yoo and Chairwoman Lee is located in the heart of Myeongdong, a popular area for foreign tourists, and is considered one of the stores with a high proportion of foreign customers. Olive Young utilized this location to renew and open the store as a foreigner-specialized store in November last year. While it was previously operated as a flagship store, it was expanded to secure about 350 pyeong (approximately 1,155 square meters) of space, making it the largest Olive Young store nationwide.
On the 11th, when the 2024 Korea Grand Sale opened, a banner was hung on the streets of Myeongdong, Jung-gu, Seoul. [Photo by Yonhap News]
During the Korea Grand Sale, Olive Young offers a 10% discount to customers who pay using Alipay or UnionPay. Able C&C also offers up to 50% discounts on products from six of its brands, including Missha, Chogongjin, and A'PIEU. Chicor, a beauty select shop operated by Shinsegae Department Store, provides a 10,000 KRW discount for purchases over 100,000 KRW at five major stores in Seoul.
The distribution and accommodation industries are also participating in the Korea Grand Sale to attract foreign tourists. Major department stores, duty-free shops, large supermarkets, and convenience stores are offering discounts to foreign tourists as part of the Korea Grand Sale. The airline and travel industries are selling airline tickets and travel experience products at discounted prices.
At the opening ceremony, Minister Yoo said, "I hope the Korea Grand Sale will truly be 'grand,'" adding, "With this event, we will kick off efforts to achieve 20 million foreign tourists this year."
On the afternoon of the 11th, a view of Olive Young Myeongdong Town store in Myeongdong, Seoul. (Clockwise from the top left) Checkout counter, first floor of the store, duty-free information sign, resting area. [Photo by Lee Myunghwan]
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