BGF Retail, which operates CU, announced on the 17th that it has signed a business agreement with the Korea Minting and Security Printing Corporation to enhance synergy in the gold business and ICT (Information and Communication Technology) service business field.
The agreement ceremony, held at the BGF office in Samseong-dong the day before, was attended by Min Seung-bae, the CEO of BGF Retail, and Sung Chang-hoon, the President of the Korea Minting and Security Printing Corporation, along with key executives.
The two companies will expand the gold business and ICT services utilizing Korea Minting and Security Printing Corporation’s manufacturing and certification technology based on CU’s O4O (Online for Offline) app PocketCU and a nationwide network of 18,000 offline stores.
Specifically, they plan to expand the distribution of gold products based on BGF Retail’s online and offline infrastructure, introduce customer service utilizing Korea Minting and Security Printing Corporation’s ICT technology, and launch new products utilizing the counterfeiting prevention technology of the Korea Minting and Security Printing Corporation.
Following the successful sales performance of Korea Minting and Security Printing Corporation’s card-type gold product released by CU in April, with sales reaching approximately 100 million won in three months, the cooperation scope is expanded.
After the agreement, the two companies plan to actively promote the gold sales business. They will first open a Team Korea support pop-up store coinciding with the Paris Olympics schedule this month, offering gold products to support participating athletes.
The pop-up store will operate at the CU Olympic Plaza store from the 25th to August 8th, showcasing and selling around 90 different gold products in the shape of profile photo cards of Olympic national team athletes and about 60 products including unique Korean culture and lucky charm concept gold bars. Over 100 products can be purchased for home delivery through PocketCU.
They also plan to introduce new gold products utilizing Intellectual Property (IP) of differentiated contents such as CU characters by the end of the year. They are considering the introduction of kiosks incorporating mobile identification technology applying Korea Minting and Security Printing Corporation’s certification and gift voucher ICT technology. They will also push for the nationwide expansion of the blockchain-based local currency service ‘CHAK.’
Min Seung-bae, CEO of BGF Retail, stated, “We will combine the infrastructure and technology of both companies to create differentiated customer value and generate synergy in various fields.” He also expressed his commitment to providing trustworthy and satisfying products and services on online and offline platforms following the agreement.