[News Space=Reporter seungwon lee] New Balance, a global sports brand that has surpassed 1 trillion won in sales in Korea, announced on the 17th that it will extend its licensing agreement with E-Land World, with which it has maintained a long-standing partnership in Korea. This decision is based on New Balance’s strong trust in Korean consumers and the strategic importance of the Korean market for continued growth.

“We are delighted to extend our long-standing partnership with New Balance,” said Cho Dong-joo, CEO of E-Land World. “This agreement once again emphasizes the importance of the Korean market, while also serving as an opportunity to further strengthen the relationship between New Balance and E-Land World.”

E-Land World has been distributing and operating the New Balance brand in Korea since 2008. New Balance and E-Land have worked together to significantly increase brand and product awareness in the Korean market, build a strong retail network nationwide, and have grown together to exceed KRW 1 trillion in annual sales in Korea in 2024.

This contract extension includes E-Land continuing its role as a key partner of New Balance, as well as its involvement in the children's footwear and apparel sectors, including licensing, until 2030.

An E-Land official said, “New Balance is a global sports brand that has achieved significant growth in Korea over the past 16 years together with E-Land, and has created a successful collaboration model that is unprecedented in the world,” adding, “We expect that New Balance will achieve even more rapid growth in the Korean market through this contract extension.”

New Balance also announced plans to establish a branch in Korea that will begin operations on January 1, 2027. This investment to operate the brand in the Korean market demonstrates New Balance’s trust in the Korean market and aims to communicate more closely with Korean consumers.

Korean consumers are recognized as early adopters who quickly embrace new styles and innovations and lead global fashion and lifestyle trends. New Balance and E-Land plan to provide innovative products and experiences to consumers through the new operating structure, while also supporting Korea to establish itself as a key global market for New Balance.

“We are excited to continue our special and important relationship with E-Land World while establishing our brand presence in Korea,” said Joe Preston, New Balance President and CEO. “This decision reflects New Balance’s continued commitment to actively expanding the market through innovative products and brand experiences while engaging closely with global consumers. E-Land World has played a key role in Korea, and our shared vision for strategic growth in the market will continue to be key to our success.”

E-Land World plans to continue to be a key business partner with New Balance even after its new Korean branch begins operations.