Vincom Retail cooperates with K-Box Global to develop a Korean entertainment complex

According to the memorandum of understanding (MoU) signed on May 19, K-Box Global will deploy Korean cultural experience models at the Vincom system, initially focusing on the “international festival city” Ocean City. The first destination is Vincom Mega Mall Ocean City, where K-Box Global plans to develop a 2,700 m2 retail-entertainment complex.

The space integrates many fields such as fashion, beauty, cuisine and entertainment in Korean style. Vincom Retail representative said that the model, in addition to focusing on direct retail, also combines O2O and livestream on social networking platforms to increase interaction with consumers, especially young customer groups.

Besides the shopping center, K-Box Global plans to develop a permanent Korean cultural complex in the K-Town Ocean City commercial area. With a scale of nearly 30,000 m2, the model aims to recreate Korean cultural experiences in a continuous form instead of short-term festivals.

The space is expected to gather fashion brands, cosmetics, Korean food courts and many cultural and entertainment activities for young people. The highlight is the central square, where cultural exchange events, art performances and periodic music nights can be held.

In addition to commercial activities, the project also integrates K-Academy – a training model in the field of beauty, certification and job connection with Korean partners. According to the business, this is part of the orientation to expand cultural and educational cooperation between the two markets. After Ocean City, the two sides plan to further research and develop the K-Village model in the coastal city of Can Gio, with K-Box Global acting as a Korean content partner.

According to a representative of K-Box Global, Vietnam is considered a market with large consumption power, young customers and sensitivity to Korean cultural trends. Cooperating with Vincom Retail helps businesses reach a large number of customers through a nationwide system of shopping centers.

Meanwhile, a representative of Vincom Retail said that the business intends to bring new retail and entertainment models into the Vietnamese market, not only in the role of providing premises but also accompanying the brand in operations and communication.

K-Box Global is an ecosystem connecting Korean – Vietnamese culture, entertainment and investment, with a cooperation network with many units in the Korean entertainment industry, including KBS television station. The project has the participation of Black Lotus Group and EastBridge Partners – a private investment fund based in Seoul.

Accompanying K-Box Global is also Park Sang-won – Chairman of the Seoul Culture and Arts Foundation, an actor associated with television series such as First Love, Hourglass or Four Gods Crown Prince. Before K-Box Global, Vincom Retail cooperated with many Korean brands in the fields of fashion, cosmetics and cuisine such as MLB, Innisfree, Laneige, Dookki or Lotteria.