Thanks to 'Ojingeo Game' merchandise... GS Retail surpasses $9 million in exports this year

Netflix Collaboration Product 'Hyoja', Top Export Revenue
Targeting $10 Million Export Revenue Next Year

GS Retail announced on the 26th that its export performance this year has exceeded 9 million USD (approximately 13 billion KRW).

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

GS Retail's export performance started at 20 million KRW in 2017 and has increased every year, receiving the '3 Million USD Export Tower' award in 2020 and the '7 Million USD Export Tower' award in 2022. This year, exports have grown more than 65 times compared to the first year, bringing them close to surpassing 10 million USD.

GS Retail has focused on expanding its 'product lineup' to strengthen export competitiveness. It also established a 'localization strategy' to enter markets by considering the food culture and consumer trends of each country.

In fact, the number of export items, which was only about 40 types in 2017, has grown to around 600 types as of this year. The export target countries have expanded to more than 30, including Europe, North America, the Middle East, Africa, and Asia. This year, fueled by the K-content boom, about 10 products affiliated with Netflix intellectual property (IP) achieved export results of 2 million USD, ranking first in overall export performance. In particular, ahead of the release of 'Squid Game Season 2,' related products such as Dalgona and energy drinks led the expansion of sales channels to various distribution channels located in the United States and Australia.

Additionally, major export items include ▲private brand (PB) ramen products such as Omori Kimchi Stew Ramen, Gonghwachun, and Jumbo Ramen series ▲Cafe25 fresh milk cafe latte ▲export-only 'No Meat Ramen' excluding meat ingredients for consumers in Western countries with many vegetarians ▲export-exclusive 'Cacao Smoothie.' Automatic fryers and other equipment used for chicken and fried food production at GS25 franchise stores, as well as the Moomoo-ssi character IP, were also exported.

GS Retail aims to achieve 10 million USD in export sales next year. To this end, it plans to pioneer new markets such as halal and increase entry into new distribution chains including local supermarkets. It also plans to export popular desserts from Korea.

Park Ji-hwan, head of the Export and Import MD Team at GS Retail, said, “This achievement is the result of pioneering export channels based on the know-how GS Retail has accumulated through years of export business,” adding, “We will export more excellent products to promote the status of Korean convenience stores worldwide and further coexist with small and medium-sized partner companies by developing overseas market channels.”