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  • Seoul Supports Expansion of Sales Channels of Social Economy Enterprises by Launching Stores in JDC Duty Free

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    Seoul Supports Expansion of Sales Channels of Social Economy Enterprises by Launching Stores in JDC Duty Free

    The stores for selling products of social economy enterprises that carry social values, such as social contribution and fair trade, will open in the JDC Duty Free shop of the Jeju International Airport located in Jeju, Korea’s island of cleanliness.

    In December 2018, a pilot store called “Each” opened in the JDC Duty Free to sell over 200 products manufactured by 15 social economy enterprises, including fashion accessories, up-cycling items, and foods. The store earned KRW 28 million in sales in the first month, and six months later, in June, tripled their monthly sales, reaching KRW 93 million. This demonstrated the competitiveness of the products of social economy enterprises in a Duty Free shop and fostered collaboration between three institutions—City of Seoul, Jeju International Free City Development Center (JDC), and Seoul Social Economy Center—for boosting their sales even more through systematic promotion and support for expanding sales channels.

    The essential point of the collaboration is to turn the duty free shop, which is visited by over 14 million Korean and foreign visitors a year, into the selling foothold of the products of the social economy enterprises in order to easily expose their goods to consumers. The three institutions are determined to play an active role as incubators as well.

    First, the JDC, which will offer the foundation for sales for the social economy enterprises, will provide them with stores for establishing and expanding their stable sales channels and apply an appropriate margin rate. Also, the JDC will support the systematic growth of the companies that will have launched their stores by providing education and consulting services based on its diverse experiences of planning brand merchandise, promotion, sales, and management.

    The city of Seoul will actively cooperate in connecting resources, expanding sales channels, and promotion, as well as implement policies to enhance the social value and possibility of growth for the social economy enterprises, guaranteeing their continuous independence. The Seoul Social Economy Center will take the role of unearthing the companies to launch their store in the JDC Duty Free and actively support the activation of the companies operating duty free stores by cultivating store managers and conducting effective promotion.