Support for Small and Medium Enterprises' Bongtang Overseas Expansion at Vietnam and Mongolia Stores
GS Retail's convenience store GS25 announced on the 18th that it has signed a tripartite business agreement with the Ministry of Agriculture, Food and Rural Affairs and small business Bongttang to promote overseas exports.
This agreement was established to support the overseas export of K-Food through collaboration between large and medium-sized enterprises with overseas networks and infrastructure and small businesses.
Kim Cheon-ju, Head of Convenience Store Support Division at GS Retail, Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, Lee Sang-hoon, CEO of Bongttang, and Kwon Oh-yeop, Director of Korea Agro-Fisheries & Food Trade Corporation, are taking a commemorative photo holding the win-win cooperation agreement after signing a business agreement to promote K-Food exports. (From left) Photo by GS Retail
The main contents of this cooperation include ▲conducting joint overseas promotions ▲strengthening marketing to promote Hallyu activities ▲consumer experience promotion ▲product localization tasks. GS25 plans to cooperate in selling Bongttang’s products by utilizing its overseas offline store networks in Vietnam and Mongolia.
Bongttang, selected as the first partner for this cooperation project, has reinvented the popular snack among foreigners, Kkwabaegi (twisted doughnuts), to suit the sensibilities of the MZ generation (Millennials + Generation Z). They transformed Kkwabaegi into donuts with various toppings and decorated the store interiors stylishly, gaining popularity.
Through cooperation with Bongttang, GS25 plans to develop products familiar to local customers in Mongolia and Vietnam by using new toppings in addition to the products already being sold. It is expected to contribute to the rising popularity of K-Food in the local markets.
Kim Cheon-ju, Senior Executive Director of GS Retail’s Convenience Store Support Division, said, "We take great pride in being selected as the first partner company supporting the overseas expansion of well-known K-Food small businesses through GS25," adding, "We will actively support the K-Food export innovation strategy project to create a successful export model."
Meanwhile, GS25 has been exporting K-Food such as tteokbokki, fish cakes, and fried foods since its initial entry into Vietnam in 2018. In Mongolia, it localized a fresh milk latte by combining fresh milk preferred by nomads with Cafe25. This year, GS25 plans to expand products overseas, including bungeoppang (fish-shaped bread) and Jumbo Ramen, which have been popular in Korea.
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