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Olive Young’s foreign customer sales top 1 trillion won three months early
🇰🇷 South Korea /Economy & Trade

Olive Young’s foreign customer sales top 1 trillion won three months early

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Outcome reported
  • CJ Olive Young said foreign customers’ cumulative purchases at its South Korean offline stores exceeded 1 trillion won from January through August.
  • The milestone arrived three months earlier than last year, while foreign customers accounted for 33% of offline sales in August, up from 2% in 2022.
  • Purchases increased sharply in non-metropolitan regions including Gangwon, Gyeongju, Daejeon and Jeonju.

CJ Olive Young said foreign customers’ annual sales at its South Korean offline stores surpassed 1 trillion won in August, three months earlier than last year.

The company recorded 11.01 million foreign-customer transactions from January through August. Foreign shoppers accounted for 33% of total offline sales in August, compared with 2% in 2022. Customers came from 192 countries, with particularly strong purchases by shoppers from the United States, Singapore, Japan, China and Thailand.

Growth also spread beyond Seoul. Sales to foreign customers rose 105% year on year in Gangwon, 88% in Gyeongju, 80% in Daejeon and 62% in Jeonju. Olive Young has expanded large and regionally tailored stores outside the capital area, which the company said helped attract foreign tourists’ shopping demand.

About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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