SEOUL, August 31 (AJP) - CJ Olive Young's sales to foreign shoppers surpassed 1 trillion won ($720 million) by August, reaching the milestone three months earlier than last year as South Korea's K-beauty boom draws overseas visitors beyond Seoul into regional cities.
Foreign customers made 11.01 million purchases at Olive Young's domestic stores between January and August, equivalent to roughly one transaction every 0.9 seconds during store operating hours, the health and beauty retailer said Monday.
Foreign shoppers now account for 33 percent of the retailer's offline sales, up sharply from just 2 percent in 2022. Customers from 192 countries made purchases this year, with the United States, Singapore, Japan, China and Thailand among its five largest foreign markets.
The growth is increasingly spreading outside South Korea's traditional tourism hubs. Foreign sales across Olive Young stores rose 47 percent from a year earlier through August, while sales in Gangwon Province more than doubled, climbing 105 percent. Gyeongju posted an 88 percent increase, followed by Daejeon at 80 percent and Jeonju at 62 percent.
Olive Young has been expanding large-format and locally tailored stores outside the Seoul metropolitan area as foreign visitors broaden their travel itineraries. A company survey found foreign shoppers visited an average of 2.8 Olive Young stores during their trips.
The retailer currently operates 151 stores designated as "global tourism" locations, accounting for more than 10 percent of its nationwide network. Those stores prioritize multilingual staff and services aimed at overseas visitors.
Skincare remained the most popular category, while demand for more specialized products is growing. Foreign sales of dermo skincare jumped about 78 percent from a year earlier through August, while inner-beauty products rose 64 percent.
Olive Young said it plans to continue expanding large and specialized stores in regional destinations including Busan and Jeju while improving services for international shoppers.
"We will strengthen our role as infrastructure for Korea's tourism industry by utilizing large-format and locally specialized stores not only in Seoul but also across regional areas," an Olive Young official said.
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