SEOUL, South Korea--(BUSINESS WIRE)--CEO of YarnTree, the operator of the buying agent specialized in overseas brands: KoreanMall, Mr. Ahn Jin-ho signed contracts for establishing the overseas branches in China, Japan, and Indonesia.
Recently, Yarn Tree also concluded a contract for collaboration with BrainCore attracting the project for Korean-Chinese compatible transportation card in order to extend its business to the Chinese market. Serving as a travel card, BrainCore’s card can also be used in convenient stores and department stores. As the project for Korean-Chinese compatible travel card is a part of the citizen-card project which the Chinese government started pushing forward at the beginning of 2016, the project will be extended from Weihai to all over China.
Yarn Tree is planning to make a new foray into the Chinese market by taking the opportunity of the formal contract with BrainCore. Furthermore, it’s also planning to introduce the project, “One-Asia Travel Card”, in Indonesia and Malaysia. In the meantime, KoreanMall is in the preparation for obtaining the exclusive right for online stores that accept the payment by Korean-Chinese Travel Card in order to attract more Chinese customers.
In addition, Yarn Tree concluded a contract for establishing branches
with Digital On Net which will be responsible for marketing and customer
service in Japan.
The head of Korean branch of Digital On Net, Mr. Go Yong-ho stated “I believe this contract will bring a synergy effect on our current businesses as this allows us to pioneer the e-commerce market”.
The business partner for the Indonesian market is “Pt. ORDA MITRA NUSANTRA”. The company is specialized in logistics in Indonesia and will be in charge of various events for the local marketing, customer service, and merchandise sales. Yarn Tree aims to continue “the Korean Wave” through the online platform by taking advantage of the increasing demands of Korean products in Indonesia.
Yarn Tree launched “KoreanMall” for international customers to purchase Korean products in a simple and easy way in January of this year. The online store is available in 154 countries and offers 14 different languages along with local return/exchange and customer services.
Within a month, there have been over ten thousand visitors on the online store. And eight-thousand visitors access to the online store on average. The company aims to reach 200,000 visitors by the end of this year and plans to expand its sales network through the collaboration with other shopping malls.