HANKOOK MARKET (HK Market) is established on 3121 West Olympic Boulevard, Los Angeles, California as a wholesaler and retailer of Korean groceries.
In August of 1987, HK MARKET expanded and inaugurated the first HK SUPERMARKET at 124 North Western Avenue, replacing a struggling Vons Market.
At first, the monthly sales volume had been around Eight Hundred Thousand Dollars ($800,000.00) and by year's end, it increased to about One Million Dollars ($1,000,000.00) per month. As the years progressed and business improved, HK SUPERMARKET redeveloped the store to accommodate subtenants, which commercialized snacks, cosmetics, provided photo services, a pharmacy, and video rentals. Such mix proved to create synergy and by December of 1989, this supermarket's sales volume had increased to about Two Million Dollars ($2,000,000.00) per month.
The property at 124 North Western Avenue, Los Angeles, California was purchased on August of 1987 by Messrs. Ik Whan Oh and Young Jun Kim, who are currently manager of HK Partners, LLC.
With the increase of the Asian population towards the eastern edge of Los Angeles, HK SUPERMARKET continued its expansion eastward and on January of 1991, a new HK SUPERMARKET opened for business in Rowland Heights. Studies show that a initial monthly sales of Six Hundred Thousand Dollars ($600,000.00) had increased to about One Million Dollars ($1,000,000.00) by December of that same year. The business was sold in April of 2004.
In order to accommodate greater demand and streamline distribution, the owners of HK SUPERMARKET established a warehouse and distribution center for all of its stores in April. The subsidiary was initially named WESTERN TRADING, INC., but now operated under the HK GALLERIA WHOLESALE, LP name.
HK MALT, LLC, which is partly owned by Messrs. Oh & Kim, owns the warehouse at 5801 South Malt A venue in Commerce, California. Said building features a net leasable area of 103,552.0 square feet, including 5,700sqft of walk-in Freezer and 5,700sqft of walk-in refrigerator system to accommodate most grocery items at the same location to minimize operation cost.