Retail / Siam Piwat

Editorial staff

Siam Piwat Group signed a memorandum of understanding (MOU) with Hyundai Department Store, the largest department store chain developer in South Korea, to elevate and revolutionize the future of retail.

Siam Piwat Group is the country’s leading real estate and retail developer, the owner and operator of Siam Paragon, Siam Center, and Siam Discovery, and a joint venture partner of ICONSIAM, ICS, and Siam Premium Outlets Bangkok.

This collaboration seeks to perfectly synergize exceptional benefits, offering exclusive experiences and services to members of both parties. With a shared objective of cultivating and promoting new business opportunities on an international scale, the partnership is geared towards the development of world-class destination projects.

Mayuree Chaipromprasith, president - corporate affairs and communications of Siam Piwat Co, said this collaboration aligns seamlessly with Siam Piwat's business principles, which revolves around the 'Co-create & Collaboration to Win' strategy. The company prioritizes fostering a constructive ecosystem continuously by partnering with leading and robust global business entities and consolidating remarkable potential to propel business growth in innovative and boundless ways. This reinforces the company’s position as the foremost global destination developer, cherished by people worldwide for our numerous successful and widely acclaimed projects.

Jung Jee Young, president of Hyundai Department Store, said that this collaboration aims to offer superior benefits and elevate the customer experience. It also presents a significant opportunity to break down market boundaries and showcase the potential of K-Culture, a highly popular trend in Thailand. Therefore, it is a good opportunity for Thai people with a valuable chance to experience it firsthand. It also encourages small and medium-sized Korean brands to have the market opportunity to abroad. Consequently, it fosters a positive impact on the business of both parties.

Moreover, this will contribute to the enhancement of tourism and the strengthening of Thai-Korean cultural bonds, while also aiding in reaching and expanding into new target demographics more effectively than ever before. Also, it gives Hyundai Department Store the creation of a more complete ecosystem by leveraging the strengths of both businesses towards a shared objective.

This partnership enhances the overall experience for a diverse range of customers, offering exceptional benefits to members of ONESIAM and Hyundai Department Store. Particularly, Hyundai Department Store will become the premier shopping destination for Thai tourists exploring South Korea.

Prior, Siam Piwat Group has partnerships with world-class multinational retail giants including PARCO Shopping Complex in Japan, TAIPEI 101 in Taiwan; Republic of China, Hong Kong Times Square, ION Orchard Department Store in Singapore, Pavilion Kuala Lumpur in Malaysia and Plaza Indonesia in Indonesia,