PChome Online Inc. forms a strategic alliance with South Korea's Nonghyup Hanaro Mart Inc.

TAIPEI,June 20,2019 -- On June 19,Taiwan'sbiggest e-commerce group PChome Online Inc. signed a memorandum of understanding (MOU) with one of South Korea's top three leading logistics companies Nonghyup Hanaro Mart Inc. Both companies will discuss strategic directions involving their respective online and offline advantages to promote subsequent cross-border businesses between Taiwan and South Korea,open up multiple possibilities for diverse cooperation between both parties,and achieve a strategic win-win situation.

Taiwan’s biggest e-commerce group PChome Online Inc. signed a memorandum of understanding (MOU) with one of South Korea’s top three leading logistics companies Nonghyup Hanaro Mart Inc. Both companies will discuss strategic directions involving their respective online and offline advantages to promote subsequent cross-border businesses between Taiwan and South Korea,and achieve a strategic win-win situation.

Hung-Tze Jan,Chairman of PChome Online Inc.,said,"Due to the frequent bilateral trade between Taiwan and South Korea as well as Taiwanese consumers' love of South Korean food and pop culture,we hope to establish a platform that provides a diverse selection of goods and foreign products,so that goods from regions such as Southeast Asia,Northeast Asia,Europe and North America can be traded in Taiwan. This will allow Taiwan to become the most important trading channel in the Greater Southeast Asia region. The alliance established today with Nonghyup Hanaro Mart Inc. is the first step towards cooperation between Taiwan and South Korea. In the initial phase,Taiwanese consumers' favorite South Korean goods will be introduced through our e-commerce platform,allowing the platform to become the top choice for consumers to purchase these goods. In the future,we hope to assist in the export of high-quality goods from Taiwan to South Korea through Hanaro Logistics' existing physical and digital channels."

Kim Sung-Kwang,CEO of Nonghyup Hanaro Mart Inc.,"Taiwan and South Korea are geographically close and have long regarded each other as'brothers'. The mutual understanding and cooperation between the two countries have allowedthe establishment of friendly ties between them. Since global e-commerce is growing rapidly,we are deeply honored to cooperate with PChome,the biggest e-commerce groupin Taiwan. The MOU signed today has great significance,as we believe both parties will develop new partnerships and achieve a win-win situation within a short period."

Since 2005,PChome Online Inc. has successively introduced B2C,C2C,and B2B2C e-commerce models and cash flow payment tools,with the purpose of establishing a complete online ecosystem and expanding its cross-border businesses. This year,PChome has successively cooperated with Rakuten and eBay,which has substantially expanded the depth and breadth of its products and services and solved problems that its customers encounter with regard to cash flow,logistics,and information flow breakpoints. In addition,PChome has been proactive in exploring online and offline trading opportunities,in order to provide better local services and a more diverse selection of goods to their members,who number over 10 million.

Nonghyup Hanaro is a subsidiary of South Korea's National Agricultural Cooperative Federation (Nonghyup) and is among the top three leading logistics companies in South Korea. Nonghyup is active in several industries such as supermarket logistics,banking,and food products,and generated an operating revenue of over US$13 billion (about NT$400 billion) in 2018. Hanaro Supermarket has over 2,200 physical locations in South Korea and primarily sells Korean agricultural and livestock products,frozen and processed food,and daily necessities.

In recent years,South Korea has become the fourth most popular tourist destination for Taiwanese tourists,trailing only behind Japan,China,and Hong Kong. The growth in Taiwanese tourists visiting South Korea has was over 70% in the last five years,and tourist figures exceeded the one-million mark in 2018,indicating that South Korea is a preferred destination among Taiwanese tourists and the demand for its products is growing. The partnership between PChome Online Inc. and Nonghyup Hanaro Mart Inc. will strengthen the connection between Taiwan and South Korea. The two companies' subsequent objectives will be focused on enhancing the uniqueness and market competitiveness of both brands,so as to jointly expand the scope of services and boost this strategic alliance.

Photo - https://photos.prnasia.com/prnh/20190619/2502319-1