SEOUL, Jan. 3 (Korea Bizwire) — GS Retail Co. said Monday it will be installing foreign currency exchange kiosks at stores that are part of its convenience store chain GS25 and supermarket unit GS The Fresh. The forex kiosks will be operated on a trial basis at about 10 stores run by the company. The [...]
SEOUL, Sept. 28 (Korea Bizwire) — GS Retail Co. said Tuesday it will start the trial operation of a gold bar vending machines at five locations including two GS25 convenience stores. The vending machines will sell five different types of gold products by weight ranging from 1.875 grams to 75 grams, as well as commemorative [...]
SEOUL, Aug. 11 (Korea Bizwire) — GS Retail Co. said Thursday it will close all of its lalavla shops, 17 years after it entered the health and beauty (H&B) store market, due to slumping sales amid the coronavirus pandemic and fierce competition. GS Retail will stop operating its lalavla online shops in September and close [...]
SEOUL, Aug. 3 (Korea Bizwire) — GS Retail, the operator of GS25 convenience stores, said Wednesday exports of its craft beer products surged over 18 times between 2019 and the first half of 2022 amid a global craft beer boom. GS said its total exports of craft beer reached US$560,000 in the first six months [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to impose a combined fine of 24.4 billion won (US$18.6 million) on GS Retail Co., the operator of GS 25 convenience stores, for its unfair business practice. GS Retail received a total of 19.5 billion won from eight contractors in [...]
SEOUL, July 29 (Korea Bizwire) — GS Retail Co., a major South Korean retailer, said Thursday it had developed a new blockchain-based product information service called B-Link. B-Link uses blockchain technology to manage information on the production, distribution and consumption of specific products such as foods and manufactured goods. When it comes to agricultural products, [...]
SEOUL, Aug. 13 (Korea Bizwire) – A consortium led by GS Retail Co., the supermarket operating unit of GS Group, has acquired Yogiyo, the No. 2 online food delivery app in South Korea, for 800 billion won (US$684.3 million), the retailer said Friday. The consortium, including Affinity Equity Partners and Permira, has reached the deal [...]
SEOUL, Nov. 29 (Korea Bizwire) — Food waste thrown away by supermarkets will be recycled into compost for use on farms working as suppliers for the supermarkets. GS Retail Co., a major South Korean retailer and GS The Fresh, a supermarket franchise, have decided to produce compost by using food waste from manufacturing facilities and [...]
SEOUL, Jul. 11 (Korea Bizwire) – GS Retail Co., a major South Korean retailer, on Wednesday announced a 33 billion won (US$29 million) equity investment in a United States online retailer in its first overseas investment. GS Retail said it signed an agreement with Thrive Market, Inc. on Tuesday to buy stock in the U.S. [...]
SEOUL, Jan. 18 (Korea Bizwire) — GS Retail Co., a major convenience store chain operator, said Thursday its first two foreign branches are set to open in Vietnam, as local convenience stores accelerate their overseas push amid fierce competition at home. The South Korean firm said two GS25 stores will open in Ho Chi Minh [...]