Siam Piwat, Hyundai Department Store partner for retail expansion

The collaboration will help draw Thailand’s growing K-culture crowd.

Thailand-based retail developer Siam Piwat Group has signed a memorandum of understanding (MOU) with Hyundai Department Store for the future development of destination projects.

The agreement will create "a more complete ecosystem" with both parties aiming to enhance customer experience, and offer benefits to ONESIAM and Hyundai Department Store members.

"This collaboration aims to entice shoppers by offering diverse special privileges at shopping centres and stores as well as stores within the alliance network," the statement read.

“We prioritise 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,” Mayuree Chaipromprasith, President of Corporate Affairs and Communications of Siam Piwat Co., Ltd., said.

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The partnership will also enable collaboration in exclusive products at the "K-Content Speciality," which includes Korean food, webtoons, fashion, and K-pop, amongst others.

Siam Piwat Group has entered partnerships with different multinational retailers such as 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.