South Korean media: "Driving a BYD car, drinking Chinese milk tea" — Chinese brands are shaking up the South Korean market!

On June 7, South Korean media outlet Today's Finance published an article stating that the offensive by Chinese brands against the South Korean market has officially begun. Chinese brands are now launching attacks not only in electric vehicles and franchise dining but also in the field of artificial intelligence.

In the past, China was a major revenue source for South Korean companies such as Samsung Electronics and Hyundai Motor. Now, Chinese enterprises have started to aggressively target the South Korean market.

The entry of the Chinese milk tea brand BaWang Cha Ji into the South Korean market is the latest example of this trend. Recently, BaWang Cha Ji opened directly operated stores simultaneously in Gangnam, Yongsan, and Sinchon districts of Seoul, officially commencing operations in South Korea. Some branches experienced waiting times exceeding four hours. As other domestic Chinese beverage brands like Cha Bai Dao and Heytea gradually enter the South Korean market, they are disrupting the traditional South Korean beverage landscape centered around coffee.

The assault by Chinese electric vehicle brands on the South Korean market has also been fierce. After officially entering the South Korean market last year, BYD has already established sales networks in Seoul, Gyeonggi Province, Incheon, Busan, and Jeju Island. The electric vehicle brand Zeekr, under Geely Automobile, plans to open showrooms in South Korea before the end of this year, while the emerging EV brand Leapmotor is also considering entering the South Korean market.

Professor Park Seung-chun from Yongin University said in an interview: "Many Chinese brands have successfully penetrated the South Korean market." He cited Yunshen Deep Technology, a robotics company headquartered in Hangzhou, China, as an example. Professor Park explained: "Yunshen Deep Technology succeeded in localization because it combined China’s advantages in components and raw materials with South Korea’s strengths in local operations. Meanwhile, the AI Go-playing robot brand SenseRobot is becoming increasingly popular among older South Koreans."

Chinese brands, previously known for their low prices, have now successfully entered South Korea's high-end consumer market. Chinese home appliance manufacturer Roborock has entered large department stores such as Lotte Department Store and Hyundai Department Store. Chinese companies are also steadily increasing their share in the South Korean television market. TCL established a subsidiary in South Korea in 2023, while Hisense sells televisions through the Coupang platform and provides after-sales service.

Original source: toutiao.com/article/1867323818861834/

Disclaimer: The views expressed in this article are solely those of the author.