E-Land World, which has been distributing New Balance athletic wear products in South Korea for the past 16 years, has extended its licensing agreement with the global sports brand through 2030.

New Balance announced on Monday that it will continue its long-standing partnership with E-Land World, covering licensing rights for footwear and children’s apparel in Korea for another five years.

“The contract renewal underscores the importance of the Korean market and further strengthens the relationship between the two companies,” said Cho Dong-joo, chief executive officer of E-Land World.

E-Land World has managed New Balance’s Korean operations since 2008, helping to expand brand recognition and build a strong national retail network.

The collaboration has significantly boosted New Balance’s market presence, leading the brand to surpass 1 trillion won ($692.48 million) in annual sales in Korea in 2024.

“New Balance’s partnership with E-Land has resulted in unprecedented growth, making it a global success model rarely seen in other markets,” said an E-Land official.

New Balance also announced plans to establish a Korean subsidiary, set to begin operations on January 1st, 2027.