What: Hyundai Department Store has formed a strategic partnership with Thailand's Siam Piwat Group to launch a K-culture-focused store in Bangkok and share successful retail strategies from The Hyundai Seoul.

Why it is important: This collaboration marks Hyundai Department Store's first international partnership, aiming to export its successful department store model and K-culture content to the Southeast Asian market. It represents a significant step in Hyundai's global expansion and cultural exchange efforts, leveraging the popularity of K-culture to attract a younger demographic and support Korean SMEs' entry into Southeast Asia.

Hyundai Department Store has entered into a partnership with Thailand's Siam Piwat Group, aiming to introduce a K-culture-oriented store in Bangkok and replicate the success of The Hyundai Seoul in Southeast Asia. The partnership will focus on featuring K-content items, assisting Korean brands in expanding into the region, and exchanging retail insights to enhance store operations. A special emphasis will be placed on catering to Millennials and Gen Z, demographics that have significantly contributed to The Hyundai Seoul's rapid sales growth. This collaboration not only signifies Hyundai's first venture with a foreign retail group but also highlights its ambition to promote K-culture and innovative retail concepts on a global scale.

Hyundai Department Store inks partnership with Thai mall group