Under a memorandum of understanding (MoU) signed on 19/5, K-Box Global will introduce Korean cultural experience models across the Vincom system, initially focusing on Ocean City, dubbed the "international festival city". The first location will be Vincom Mega Mall Ocean City, where K-Box Global plans to develop a 2,700 m2 retail and entertainment complex.

The general director of Vincom Retail (left) and the chairman of K-Box Global (right) exchange the memorandum of understanding on 19/5. *Photo: Vincom Retail*

This space will integrate various Korean-style elements, including fashion, beauty, food and beverage, and entertainment. A Vincom Retail representative stated that the model will not only focus on direct retail but also incorporate online-to-offline (O2O) strategies and livestreaming on social media platforms to enhance interaction with consumers, particularly young customers.

Beyond the shopping mall, K-Box Global also plans to develop a permanent Korean cultural complex within the K-Town Ocean City commercial district. Spanning nearly 30,000 m2, this model aims to continuously recreate the Korean cultural experience, moving beyond short-term festivals.

Vincom Mega Mall Ocean City is K-Box Global's first store location in Vietnam. *Photo: Vincom Retail*

The planned space will bring together Korean fashion, cosmetic, and food and beverage brands, along with various cultural and entertainment activities targeting young people. A central plaza will serve as a focal point, hosting cultural exchange events, art performances, and regular music nights.

Beyond commercial activities, the project will also integrate K-Academy, a training model in the beauty sector that provides certifications and connects graduates with job opportunities at Korean partners. According to the company, this initiative is part of a broader strategy to expand cultural and educational cooperation between the two markets. Following Ocean City, both parties plan to explore developing a K-Village model in the coastal urban area of Can Gio, with K-Box Global serving as the Korean content partner.

A representative from K-Box Global noted that Vietnam is considered a market with significant consumer power, boasting a young customer base highly receptive to Korean cultural trends. The partnership with Vincom Retail will enable K-Box Global to reach a large number of customers through its nationwide network of shopping centers.

The signing ceremony was attended by representatives from Vincom Retail, Black Lotus Group, EastBridge Partners, and artist Park Sang-won (third from right), who is the chairman of the Seoul Arts and Culture Foundation. *Photo: Vincom Retail*

Meanwhile, a Vincom Retail representative stated that the company aims to introduce new retail and entertainment models to the Vietnamese market. Their role extends beyond merely providing retail space; they intend to partner with brands in both operations and communications.

K-Box Global is an ecosystem connecting Korean-Vietnamese culture, entertainment, and investment. It boasts a network of partnerships with various entities in the Korean entertainment industry, including the television broadcaster KBS. The project also involves Black Lotus Group and EastBridge Partners, a Seoul-based private equity fund.

Joining K-Box Global is Park Sang-won, chairman of the Seoul Arts and Culture Foundation and an actor known for TV dramas such as "First Love", "Hourglass", and "The Legend". Prior to this partnership, Vincom Retail had already collaborated with numerous Korean brands in fashion, cosmetics, and food and beverage, including MLB, Innisfree, Laneige, Dookki, and Lotteria.

Dan Minh