[ 2008-09-11 ]
Recently, South Korean retailer Shinsegae Department Store said that the company plans to open 100 discount stores in China before 2015. Shinsegae operates a hypermarket Kingdom E-Mart in Korea and plans to invest more than 500 billion KRW (about 461 million USD) in China in the next 6 years to open more branches.
Shinsegae said that the next goal is to open 70 stores before 2012 and complete the establishment of 100 stores in China before 2015. Currently, Shinsegae Group has opened 15 E-Mart stores in China. The sale of E-Mart will reach around 400 billion KRW in 2008, while the sale of last year is 250 billion KRW.
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