Magazines Archives - 2007 February

Tesco To Beef Up Korean Presence
Story 5

UK-BASED Tesco will inject £2 billion (US$3.93 billion) into HomePlus, its joint-venture business in South Korea. This is its largest single investment in the venture to date. According to local reports, Tesco has invested £1.4 billion in HomePlus for the past eight years.

The retailer, which operates the HomePlus discount chain in South Korea with local company Samsung Corp, said it would concentrate on growing its presence in the country — one of Tesco’s core overseas markets.

It plans to up the number of HomePlus stores from 50 to 150 by 2012, and achieve a sales target of 16 trillion won (US$17.5 billion), said CEO Lee Seung-Han in local reports.

The number of HomePlus stores currently lags behind local market leader E-Mart’s approximately 110 outlets


2007 February Stories:

HR & Training – Service Excellence
Secret to better service. Creating a more involved working environment

The Valiram Group Wins Bid To Manage Luxury Brands At Changi Airport

China Reports Healthy 2006 Sales Growth

Pantaloon Signs JV With US Retailer Of Office Supplies

E-Land To Sell Carrefour Stores In South Korea

Tesco To Beef Up Korean Presence

Pet Safari Opens Largest Store In Singapore

Baleno Malaysia Set To Multiply In-Base Stores By Next Year

Inditex Expands In Asia

s.Oliver Launches Into India With Leading Local Partner

Traditional Thai Retailers Face Imminent Shutdown Unless More Aid Is Given

Damas Taps India’s Emerging Gems Market

HK Group Charts Major Growth Up North

Marks & Spencer To Debut In Kolkata

Competition Expected To Fuel M&As In China

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