SEOUL, KOREA - Hyundai Home Shopping will move into the Chinese online shopping market. The company said on February 17 that it would open a retail space within Kuajingtong (meaning "cross-border master"), the Chinese online mall. This is the first time for a Korean online retail operator to do business in local Chinese shopping sites.

 

"Hyundai H-Mall" to set up shop inside Kuajingtong will offer a total of 3,000 different items including cosmetics and children's goods. Any Chinese shopper can have access to the mall through the Kuajingtong website and get delivery through Shanghai-based SF Express.

 

According to Hyundai Home Shopping, the packages purchased through H-Mall will get special expedited treatment by the Chinese authorities including the Shanghai city government, tax service, and health inspection service. Han Gwang-young, head of Hyundai H-Mall business operation, said, "It takes an average of 3 to 5 days fewer than any other packages sent by regular corporations."

 

The company set this year's target sales revenue at 30 billion won, with the revenue rising as high as 200 billion won within two to three years from now. For Chinese and English-speaking customers residing in areas other than Shanghai, the company will offer an automatic translation service into Chinese and English for its web pages. It expects that the number of foreigner members on its site will grow to 5 million within three years.