SEOUL, Jun. 3 (Korea Bizwire) — Private equity firm MBK Partners is set to sell the supermarket business unit of Homeplus Co., a discount store chain in South Korea, according to financial sources on Monday. MBK Partners, which owns 100 percent of Homeplus, has put Homeplus Express up for sale, appointing Morgan Stanley to manage [...]
DAEGU, Jan. 16 (Korea Bizwire) — The mandatory closing day for large supermarkets will be changed from Sundays to Mondays in the southeastern city of Daegu, beginning next month, the municipal government said Monday, as part of a deregulatory move for the retail industry. The Distribution Industry Development Act introduced in 2012 obliges super supermarkets [...]
SEOUL, Aug. 16 (Korea Bizwire) — E-Mart Everyday Inc., retail giant Shinsegae’s supermarket chain operator, said Thursday it will open a “cashier-less” store in Seoul this week in its latest effort to secure competitiveness through the use of new technologies. The 212-square-meter store in Gangnam, southern Seoul, will open Friday after remodeling to allow customers [...]