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The Retail Revolution in Korea. 2002. 10. 23. Oh-Hoon Kwon, CIO of LOTTE Group. Today’s agenda. I. Trend in Korean Retail Industry 1. Growth by Sector 2. Trends 3. Enabler II . Present condition of e-Business in Korean Retail Industry III. Initiatives 1. CRM

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the retail revolution in korea
The Retail Revolution in Korea

2002. 10. 23

Oh-Hoon Kwon,

CIO of LOTTE Group

today s agenda
Today’s agenda

I. Trend in Korean Retail Industry

1. Growth by Sector

2. Trends

3. Enabler

II. Present condition of e-Business in Korean Retail Industry

III. Initiatives

1. CRM

2. Retail SCM

3. TO Be Model

4. B2B Strategy: eMarketPlace

IV. Strategy in retail Industry

trend in korean retail industry growth by sector

CVS(1.8%)

Supermarket(4.2%)

TV Home Shopping(3.4%)

Discount Store

(14.2%)

Department Store

(13.9%)

Trend in Korean Retail Industry - Growth by Sector

Discount Store and Home shopping showed Rapid growth rates in Korea, but supermarket and Department Store keeps almost flat growth in Korean retail industry

Market Share by Retail Sector

CVS(1%)

Supermarket(4.2%)

TV Home Shopping(1.8%)

37.5%

Discount Store

(7.6%)

27.9%

Department Store

(13.3%)

1999

2002(E)

* Source: National Statistics Office, Samsung Economic Resource Institute

trend in korean retail industry growth by sector4
Trend in Korean Retail Industry- Growth by Sector

When three companies capture market, customers can make optimized choice, competition showed proper level, and market efficiency increases. Also, market share is concentrated these leading companies (The Rule of Three)

Market Concentration in Dept. Store Sector

Collective Market Share of Big 6 Discount stores

[unit: %]

[unit: %]

45%p

33%p

75

68

35

30

*Source: National Statistical Office, LG Economic Research Institute, A. T. Kearney Analysis

trend in korean retail industry growth by sector d s
Trend in Korean Retail Industry- Growth by Sector (D/S)

Discount stores have grown at about 30% annually and will overtake department stores in sales by 2003, but the growth rate is expected to decrease gradually

The Total Number of Discount Store In Korea

Implications and influences

  • The Sales of discount store is expected to surpass that of department store between 2002 and 2003

(Trillion Won)

  • Low-end pricing contributes to the stabilization of consumer prices.
    • Discount store lowered consumer prices by 1.79% from 1996 to 1999
  • Power will shift from manufacturers to discount store
  • Discount stores will number 270 – 280 by the end of 2002, reaching the optimal number and afterwards the growth will slow down gradually

Source: National Statistical Office, Samsung Economic Research Institut,

A. T. Kearney Analysis

Source: National Statistical Office,, Bank of Korea, A. T. Kearney Analysis

trend in korean retail industry growth by sector t commerce
Trend in Korean Retail Industry- Growth by Sector(T-commerce)

With a growing number of CATV viewers and TV shopping players, TV home shopping industry has grown fast and is expected to continue to grow

Key Drivers for Market Growth

Historical Sales Growth

  • Increasing Number of Cable TV viewers;

(Billion Won)

No. of CATV Subscriber

(Thousand)

CAGR =88.9%

CAGR =69.7%

  • New entry;

Incumbents: LG Home Shopping , CJ39

New entrants: Hyundai Home Shopping, Woori Home Shopping, Agricultural&Fishery TV

  • Rapid growth of home shopping leads to
    • Growth of courier service companies
    • Emergence of an effective sales channel for mid and small size companies
    • Growing importance of customer relationship management

Source: Korea Cable TV Association, A. T. Kearney Analysis

Source: Hana Economic Research Institute, A. T. Kearney Analysis

trend in korean retail industry growth by sector t commerce7
Trend in Korean Retail Industry- Growth by Sector(T-Commerce)

Conventional market still have accounted for about 62.5%(2002E ) in the Korean retail sector, while TV Home Shopping has occupied just 2.8%. Therefore, it has a lot of possibility to grow in Korean retail industry

Growth of CJ39Shopping

CJ 39 Shopping is the frontier and

leading TV home Player in Korea

[unit: million $]

Sales

Sales Profit

22.6

25

15.2

4.9

8

1998

1999

2000

2001

2002(1H)

* Source: CJ39Shopping

trend in korean retail industry growth by sector internet mall
Trend in Korean Retail Industry- Growth by Sector(Internet Mall)

Internet shopping is expected to be the fastest growing sector in retail industry, and the competition is intensifying with new entrants from other industries

Sales History and Forecast

(Billion Won)

  • Among over 1700 players in 2000, only 10% of them sell more than 0.1 billion won per month.
  • Profitability is the most serious issue plaguing all of the players, but some of big players are expected to reach BEP in 2002
  • Compound Annual Growth Rates of internet shopping until 2003 is 103.7%

CAGR = 103.7%

Source: Hana Economic Research Institute, A.T. Kearney Analysis

trend in korean retail industry growth by sector internet mall9
Trend in Korean Retail Industry- Growth by Sector(Internet mall)

Internet business growth in 2001 is twice than 2000, and the size of e-commerce reached $17.4 billion. Moreover, internet users in Korea reached 20.2 million.

To grow continuously, internet providers should be concentrated on solve security Problem.

LOTTE.com’s Vision

Today’s Lotte.com(www.lotte.com)

  • Founded January 2000
  • Opened Internet Duty free shop
  • Started to sell private brand
  • Launched the merchandise delivery
  • system jointly with off-line stores
  • Started catalog business
  • Opened "Lotte B2B Mall for meat"
  • Reached 160 million in first half in
  • 2002, which increased 358%
  • comparing to same period in 2001
trend in korean retail industry growth by sector entertainment
Trend in Korean Retail Industry- Growth by Sector(Entertainment)

Entertainment Shopping mall provides both traditional function and entertainment factor in a same area. A few years ago, In spite of popularity, it dulled to make profits, but it makes big progress currently.

LotteWorld

Coex Mall

A: Department Store B: Hotel

C: City Air Terminal D: Trade Tower

E: Hotel F: Exhibition Center

G: ASEM Convention Center

H: Business office center

Department Store Hotel

Theme Park Discount Store

Clinic Sports Center

Ice Link

slide11
Important to Mental distance toward Customer

Improve quality Compared with Cost

Expand home delivery and e-Retailing

Provide Tailored Service

Trend in Korean Retail Industry - Trends

Currently, Many companies have practiced joint e-SCM strategy to raise operating efficiency on S/C in Korean Retail Sector through shared information between partners.

Domestic Retail sector environment and retail Strategy

The Next Phase

2000+

1950s

1960s

1970s

1980s

1990s

Customer Segmentation

and customizing

Balanced Supply

and Demand

Cust.

Value

Assortment

Distribution

Price

Choice

Quality

SCM

CRM

  • important to physical distance to customer
  • Physically expand number of store and size
  • Emphasize on improvement of price & quality
  • Provide Seamless customer service

Retail

Trends

  • Current Big Five strategies in domestic Retail
  • Strategic Alliance with partners
  • Demand forecasting and Replenishment in S/C
  • Optimized operation thru Optimized logistics
  • Re-architecture of e-Business operation Process
  • Product Category Management

Extend e-SCM to e-Retailing srtategy

DSD

(Direct Store Delivery by supplier)

N/W Reengineering

Implications

for Logistics

Centrali

-zed

New Trend in Korean retail sector is Providing of “Tailing service”

trend in korean retail industry enabler internet
Trend in Korean Retail Industry– Enabler(Internet)

Entering e-Commerce via Internet has fundamentally changed relationship between partners on supply chain, and it has recognized efficiency usage of eCommerce is the one of the best competency advantage in competition.

Speed

  • Prompt response to customer & market, fasten planning
  • End-to-End Real Time Tracking of money, goods, service, and info.
  • Reduced time to market & product Life Cycle Time
  • Reduced delivery Lead time

Supplier

Connectivity

Go-Global

Information

  • Possible Real Time connect one to one or one to many
  • Reduce transaction/investment/operation cost
  • Globalization within organization, between organization, and between companies via Internet

Products /

Material

Customer

Manufacturer

Retailer

Convergence

  • Real time sales info. Analyze &
  • Sales based on customer’s needs
  • Customization of goods & service based on customer management such as spending pattern, population, and regional types
  • Upgrade customer service by
  • support both On-line and Off-line simultaneously

Third Party

Logistics

Provider

Distributor

Internet is that, as built connectivity whole supply chain from customer’s customer to supplier's supplier, the connectivity make possible to support goods and service transaction, processes, and shared sales information.

trend in korean retail industry enabler collaboration
Trend in Korean Retail Industry– Enabler(Collaboration)

Collaboration is that, it is important to get joint vision related with clear forecasting and joint decision making based on trust and shared information between partners on Supply Chain

Collaboration

Coordination

Open Market Negotiations

Customer Partnering

Supply Chain Integration Joint PlanningTechnology Sharing

Information linkage (EDI)Longer-term contracts

Price-based discussionsAdversarial Relationships

With collaboration, we can access following issues in supply chain…..

  • Discrepant product supply forecasting between retailer and manufacturer
    • Manufacturer do not recognize retail side’s sales strategies and promotion planning, and so on in advance
    • Retail side do not reflect manufacture side’s new product development and related advertisement planning.
    • Absence of joint analysis about market trend and consumer information
  • Absence of joint demand and supply management planning and strategy on Supply Chain
  • Absence of access toward Supply chain related to “Across organization, Between organizations”
    • manufacture side’s marketing, Sales, and Production Planner
    • Needs supply process that retail side’s category buyer, person in charge of order, and sales forecast analyze team participant in and share information

Collaboration is that

Based on Changing in Mind-set and arousing strategic sympathy on Supply chain,

  • Share information and IT technology
  • Centralized decision making on Supply Chain dimension not sole company unit,
  • Inter-dependence between companies in S/C,
  • Make efforts maintenance and improve relationship between companies
  • Regular Communication, prompt response, and increased number of communication
  • Regular Communication between executives

Supply Chain is not achieved by only emphasizing tech sided Version-up or depend by a few specialists. It needs new business mind based on collaboration and repositioning of organization and resources

trend in korean retail industry enabler collaboration14
Trend in Korean Retail Industry- Enabler(Collaboration)

Collaboration initiatives between retailers and their suppliers have gradually evolved from data capture to supply chain management initiatives

Evolution of Supplier/Retailer Collaboration

Technology Enablers:

UPC

EDI

ERP

XML

Private Exchanges

Public Exchanges

CPFR

Efficient Consumer Response(ECR)

Level of Collaboration

QR/VMI/CRP1

Product I.D. Standards

1970

1980

1990

2000

2010

trend in korean retail industry enabler collaboration15

Retailer initiatives in Asia Pacific tend to be about five years behind those in Europe and the United States.

Trend in Korean Retail Industry- Enabler(Collaboration)

Different geographic regions have evolved at varying rates with respect to their trading partner collaboration practices

Supply Chain Initiative

Adoption by Geography

Private Exchanges

Europe and the United States

Public Exchanges

CPFR

Efficient Consumer Response

(ECR)

Asia Pacific

Level of Collaboration

QR/VMI/CRP

Product I.D. Standards

Time

trend in korean retail industry enabler collaboration16
Trend in Korean Retail Industry- Enabler(Collaboration)

Three fundamental collaboration models have emerged, each with varying types of functionality and degrees of benefits

CPG-to-Retailer Collaboration Models

CPG

Retailer

Many-to-Many

(Retail-Driven)

Public Exchange

Many-to-Many

(CPG-Driven)

Many-to-One

Underlying Data Standardization

Private Exchange

One-to-Many

One-to-One

1-to-1

slide17

Present condition of e-Business in Korean Retail Industry

  • e-Procurement is the first in rate of use. SCM, ERP are next.
  • The reasons why e-Procurement Solution is the first are high-rated procurement by internet as well as easy to transform procurement process to e-Commerce.

eBusiness Solution Use

Maximum scale of 5points

3.42

KMS

3.47

CRM

3.6

eMP

ERP

3.73

SCM

4.33

e-procurement

4.71

0

1

2

3

4

5

Source: KRG, 2001. 10, eBusiness invest 100 higher rank companies

Prospect of rapid growth in SCM, e-Procurement and eMP in the future.

slide18

Present condition of e-Business in Korean Retail Industry

Maturity rate of eBusiness by industries

Source: Korea Computer Research/IT Newspaper, KRG, 2002

  • Finance is leading the eBusiness in Korea. It recorded 20.53
  • The next are Retail&Svc(17.87), IT(17.06)
  • Manufacture, Construction and Government showed low score compared with other industries

Government Manufacture Finance Retail&svc IT Construction Total Average

Retail&Svc showed relatively high rate but still low. In addition e-Business is prospected the high growth in the near future.

slide19

Present condition of e-Business in Korean Retail Industry

Retail&Svc

SCM is leading solution in Distribution&Svc after 2002

Investment plan in 2002 Retail&Svc)

  • Security is the first(75.9%)and next are CRM(62.1%), KMS(41.4%), SCM(37.9%)
  • Retail&Svc is expected to drive the demand of SCM compared with other industries.
  • Some of big retailors have implemented 1st phase and is expected to invest continuously this year. According to the research 10s among 29 companies are doing SCM Project.
  • The reasons why eBusiness is accelerated are invasion of Multinational Distribution companies and reduction of revenue caused as tough competition.

80%

75.9%

70%

62.1%

60%

50%

41.4%

37.9%

37.9%

40%

34.5%

30%

20%

10%

0%

Security CRM KMS SCM DW Mobile

Source: e-newspaper, KRG, 2002

slide20

Present condition of e-Business in Korean Retail Industry

SCM and CRM leading the e-business market soon

  • E-shopping mall being constructed actively, but eCRM expected to lead the market soon.
  • SCM is going to be introduced irrelatively industries, and eProcurement Infra is expanded in distribution and CPG industries.

Source: KRG 2001.8, 170 enduser survey, Revenue: over US$100M

initiatives crm
Initiatives - CRM

Reinforce Customer Royalty by CRM

  • Easy to apply and introduce CRM as the tendency of approaching to customer in Retail industry
  • Need different CRM strategy according to types of business
  • Share customer and Sales information with suppliers to deliver goods at right time through CRM

Integrated DBM Plan

Integrated DBM’s Closed Loop Process

Strategy

  • Shared enterprise info.
  • Established Consumer-centric Process
  • Consumer Segmentation
  • Customer Maintenance and acquisition

Customer Retention

Customer Acquisition

Marketing

Market

Organizer

Collect Customer info.

Sales Opportunity

  • Integrated Customer related work

such as Marketing, Sales, Service, etc

  • Understand Consumer’s needs
  • Efficient Service Management
  • Management of redundant data

Work

Customer DB

Sales

Service

Customer maintenance

IT

  • Prompt response to fasten changed IT
  • Reduced implementation & maintenance

Costs

  • Customer info. Analysis tool

Customer Management

Customer Viewpoint Functional point

slide22

Initiatives - Retail SCM

Korean Retail players built Web-EDI preferentially and currently they are driving to built mainly CMI/VMI, CAO based on improvement of logistics

Korean Retail SCM Case

SCM

LotteMart, LG Household & Health Care

Yuhan-Kimberly,

Chelijedang, P&G

CPFR

Yuhan-Kimberly,

Unilever,

Cheiljedang,

Hyundae Dept.

CMI/VMI

LGmart

Pulmuone, Aseen

FineKorea

CMI/CAO

LGmart

Yuhan-Kimberly, P&G,

Unilever,

CMI

CM

EDI

VMI

LGmart, DongsuFood, Cheiljedang,

LotteMart, Yuhan-Kimberly

CarrefourKorea

Ogguki, Cheiljedang, P&G

slide23

Initiatives - To Be Model

We should equip Responsive and Consumer-Driven System to raise operational efficiency on S/C with working together between retail and manufacture

We should make simplify and optimize Products/information/money flow to raise efficiency from Manufacture-Process-Logistics, distribution to consumers on supply chain. Then finally, expanded sales to maximize customer satisfactory

  • Partnership with Supplier
  • CPFR – Collaborative Planning, Forecasting & Replenishment
  • Reduce Lead time and inventory thru VMI
  • Co-managed product planning/development/display/assortment/sales
  • Visibility of Supply Chain
  • Based on partnership with supplier, Real Time handling of inventory and purchasing planning through visibility of supply chain
  • Shared consumer’s trends with whole supply chain
  • Provide Customized service through reflected customer’s needs instantly
  • Cut a price with reducing Lead Time and inventory

Maximized Profit thru Customer Satisfaction

Expanded sales Opportunity

Raised Customer Royalty

  • Strategic alliance
  • Demand Forecasting
  • Optimized Logistics
  • e-Business
  • Category management

Retail

Consumer

Raised Operation efficiency

Raised Customer Satisfaction

Minimized inefficiency in Supply Chain

slide24

Initiatives - To Be Model

SCM is total strategy to cover retail and logistics that to satisfy consumer and remove inefficiency during the operation through sharing information with partners on supply chain

Big Five Strategies in Retail SCM

  • As joint investment related with partner’s internal and external non-value added activities to reduce cost and raise efficiency, provide benefits to customers as well as the partner

Strategic Alliance

  • Raise flexible supply responsibility and effective management of materials as operating supply forecasting and planning activities according to end-user’s situation

Demand Forecasting on S/C

Optimized Logistics

  • Through strategic alliance, effective equipment, and usage of IT technologies, manage product distribution network rationally
  • Through implementation of advanced e-Business, seek to operation efficiencies such as reduced cost, minimized error rates, increased transaction cycle time, and so on

e-Business

  • Through product assortment in retail channel and balancing between costs, manage and maintain product category efficiently to increase consumer value

Product Category Management

slide25

Initiatives - To Be Model

Based on progressive collaboration between partners, reduced inefficiency sectors like external factors and maximized operating efficiencies

Details of Big Five Strategies in Retail SCM

Demand Forecasting in S/C

e-Business

Optimized Logistics

Category Management

Strategic Alliance

  • ABC
  • Based on operating activities Cost distribution and Management, Support effective decision making
  • Initiative bundling
  • joint technology investment and distribution
  • Value based incentive
  • distribute profits fairly between partners.
  • Standard of Product Code
  • Common language in Distribution activities
  • Official Product information
  • Used Consistent Product info.
  • Shared Demand information
  • Raised planning and response capability both manufacturer and retailer thru shared consumers’ buying info.
  • Market-level Forecasting
  • Direct Store Delivery
  • Fast-moving goods
  • Co- Consolidation
  • Slow-moving goods
  • Joint delivery
  • Coordinated transport
  • make delivery route to deliver many tasks at once
  • Cross-Docking
  • Balanced variety
  • improve product assortment with collaboration
  • Product deletion
  • Product In/Out
  • New Product management
  • Centralized conversion
  • Based on optimized logistics field, support to concentrated on competency advantages in process and manufacture field
  • Support optimized process
  • Built logistics management process
  • Exchange and manage product info. - EDI
slide26

Initiatives - To Be Model

As most companies built SCM components and infrastructure, Strengthen internal competency advantages and drive SCM strategies through partnership on Supply chain

SCM Components and Infrastructure

  • - Strategic Alliance
  • - Demand Forecasting in Supply Chain
  • - Optimized Logistics
  • e-Business
  • Product Category management

SCM Strategy

  • - ABC (Activity Based Costing)
  • Bar-code
  • Direct Store Delivery
  • Consolidation)
  • Cross Docking
  • Web- EDI
  • Replenishment
  • category management

SCM Components

- Organization and culture

- BSC

- Technologies

- Logistics network

SCM Infrastructure

initiatives logistics network
Initiatives-Logistics Network

Since 1999, it has increased 30% annually, and it reached $1.2 billion sized market in 2001. Currently, Korean prime CVS players carry out solitary or joint logistics service thru its store(Lotte.com’s merchandise delivery system jointly with 7-Eleven

Enterprise’s Integrated Logistic Network

Headquarter

Retails

CPG

Lotte Confectionery

Lotte Chilsung, etc

Lotte Shopping

Lotte Mart, etc

ERP or Legacy Interface

Logistics Control Center

OMS

TMS

WMS

Customer

Supplier

Lotte Elec.

LotteCanon, etc

Lotteria

TGI Friday

Eng

Restaurant

Service

LotteHotel

Lotte World

7-Eleven

initiatives b2b strategy e marketplace
Initiatives - B2B Strategy: e-Marketplace

While B2B e-market place in Korean retail industry is in embryo, the government and private sectors are cooperating to build B2B infrastructure dubbed “KoreaRetailXchange”

Worldwide B2B E-marketplace

KoreaRetailXchange

  • Participants; Ministry of Commerce, Industry, & Energy, LG Mart, Lotte Magnet, Samsung Tesco, Shinsegae E-mart, Hanwha Store, Hyundai Department Store
  • Start of operation (Planned); Second half of 2002
  • Value proposition;
    • Construction of an e-marketplace of Korean nationality
    • Enhancing competitiveness of participants by enhancing their purchasing power and efficient supply chain management
  • Functionality;
    • Operate as a non profit organization to secure neutrality
    • Maintain openness to secure “critical mass”
    • Improve efficiency for participants through process standardization and offering of diverse services

*Source: A.T. Kearney Analysis

initiatives b2b strategy e marketplace29

Retailer

Supplier

LCN

(Private eMarketplace)

LotteMart

L-ProNet

Lotte Dept.

E-Tax Bill

Collaborated

Companies

LotteLemon

Web-EDI

Electric Income

K - 7

.

.

CA

CPFR

ASP

.

.

.

.

.

.

Initiatives- B2B Strategy: e-Marketplace

LCN(Lotte Commerce Net)is “Private Community Network” that maximize connectivity between subsidiaries or subsidiaries and its partner as converting offline centric business to online –centric business provide us maximum efficiency and boost profit.

KoreaRetail

Xchange

Korea-eMP

Global-eMP

strategy in retail industry
Strategy in Retail Industry

Provide consolidated

e-Biz environment

  • Provide single integrated cyber space both Lotte Group subsidiaries and its partners
  • Create Win-Win Strategy to share and use information
  • Only one standardized infrastructure and connectivity  Synergy effect
  • Effective business process  increase profits, reduce inventory level, etc

Increase business

efficiency

Accomplish to built

national infra

in retail industry

  • Execute Korea’s Ministry supervised business for effective EC in field of retail industry
  • Seek to way to connect to external e-MP

Lotte Group Branch company

EAN Korea

Retail

manufacturer

Logistics

Share Product Info

Support retail

Contents

. Shinsegae

. Samsung Tesco

LCN

Center

EDI

Alliance

Share Product info

. Authorize retail service

. Settle service fee

Global Sourcing

Partners

strategy in retail industry31
Strategy in Retail Industry

Product Positioning and Create Synergy w Existing Biz.

- Additional Product : *PDS, *CPFR, *CM, e-Tax Bill/Contract, Mobile

- Infrastructure Product : XML/EDI, *CMS

- Collaborative IT Biz. : XML/EDI Service  Collaborative company IT Supporting Biz.

- Integration of LDCC’s service I  LCN Portal

Promote profit extension strategy through XML/EDI

- Existing and new consumer retention based on LCN

- Emphasis differentiation strategy comparing to competitor

Improve eTransformation Business

- To be a leading company in SCM

- Promote e-Transformation biz. to Lotte Group’s partners

e

I

C

R

M

P

D

S

C

P

F

R

Product

Collaborative IT Biz

Internet Fax Service

E-Contract

E-Tax Bill

Mobile ASP Service

C

M

E-Procurement

K

M

S

LCN

Portal

Site

CMS

VPN

Infrastructure

XML/EDI(VAN)

Network Back Born, Security, Contact Center

Lotte GDC Center

strategy in retail industry32
Strategy in Retail Industry

Establish Global Standard of Infrastructure

-Create new business through co-work between LCN service and its related organizations

- Establish Global trade infra through expand standardization through co-work with EAN Korea

Provide convenience to connect with integrate between LDCC’s retail-centric Hub Center and other’ retailers’

-Organize separate retail community

- Co-operate with other retailers though system connection

KoreaRetail

Xchange

EAN Korea

LCN

Center

Retail Providers

Accomplish LDCC as a Core HUB Center for electronic commerce in Retail industry

the retail revolution in korea33
The Retail Revolution in Korea

Thank You!

ohkwon@ldcc.co.kr

LDCC