Olive Young doubles down on regional expansion

CJ Olive Young is making its biggest regional push yet, committing 123.8 billion won ($84 million) to expand large-scale stores and logistics infrastructure outside the Seoul metropolitan area to boost local economies and create career opportunities.

The company said Thursday that of the 78 large-format stores slated to open or be renovated this year, 43 will be in nonmetropolitan areas. Busan and Jeju Island, among the country's top tourist draws, will have flagship stores geared toward foreign tourists, while the Gyeongsang, Jeolla and Chungcheong provinces will see large outlets in both new and old downtown districts.

On the logistics front, Olive Young has upgraded its distribution center in Gyeongsan, North Gyeongsang Province, to offer same-day delivery across Daegu and the broader province. A similar service is set for Jeju Island later this year.

Where Olive Young opened large-format stores last year — in Daejeon, Seomyeon in Busan and Gangneung in Gangwon Province — foot traffic rose an average of 25 percent in the six months following each opening. Foreign customer sales in South Gyeongsang Province, North Chungcheong Province and Ulsan surged more than 120 percent from a year earlier.

As for jobs, Olive Young plans to hire around 600 new employees in nonmetropolitan areas this year. As of last year, more than 90 percent of its full-time store hires started as part-time workers, the company said.

In a bid to cultivate beauty and wellness talent, Olive Young launched a beauty consultant role in January, with more training programs planned down the line, including at regional stores.

"Regional investment strengthens local economies while giving young people a platform to grow as K-beauty professionals," an Olive Young official said.