Shinsegae Duty Free announced on the 31st that it held an exchange event with the key executives of the Chinese Wusong Group and Wangfujing Group to discuss expanding the sales channels for Korean products and partnership cooperation.
Wusong Group is a retail company operating the largest shopping malls, hypermarkets, direct stores, and digital technology businesses in central China, boasting more than 5.7 million members. Wangfujing Group is a retail company that has built a nationwide retail network including department stores, shopping malls, outlets, duty-free shops, and e-commerce, with over 25 million members.
Shinsegae Duty Free and Wusong and Wangfujing Groups discussed the possibility of expanding tourist attraction and marketing cooperation in preparation for an increase in Chinese tourists due to the implementation of a visa-free entry policy for group tourists in the second half of the year.
Attending the event were Yang Ho-jin, head of sales at Shinsegae DF (executive director), Moon Hyun-kyu, head of the main branch (executive), Kwon Jong-woo, marketing officer, along with Pan Hongxiang, co-president of Wusong Group, Hu Yong, vice president of Wangfujing Group, and Yoon Gi-seop, director of the KOTRA (Korea Trade-Investment Promotion Agency) Wuhan trade office.
The executives shared information on the current status of the Korean duty-free market and industry trends in the conference room at the Shinsegae DF headquarters, then experienced the stores by touring the 10th floor iconic zone media facade, K-beauty zone, and K-culture complex shopping space at the Myeongdong branch.
A Shinsegae Duty Free official said, "Wusong Group and Wangfujing Group are key corporations with extensive distribution networks and a loyal customer base in China, and this visit was a meaningful opportunity to enhance understanding of the Korean duty-free market and confirm various possibilities." He further noted, "Having directly experienced the differentiated store competitiveness of Shinsegae Duty Free, we plan to explore various possibilities in attracting tourists and customer marketing in the future."