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South Korea’s FTC (Fair Trade Commission) approved a set of voluntary rules agreed by convenience store operators to better protect struggling franchisees.

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South Korean convenience chains CU and GS25, operated by BGF Retail and GS Retail respectively, have seen a recovery in their results for the first half. BGF Retail's sales up 12.3% CU convenience chain recorded a net profit of KRW45.3bn (US$40.2m) from April to June, an increase of 105% from the first quarter of this year. Sales increased 12.3% to KRW1,478.5bn (US$1.3bn) compared with the ...
BGF Retail, operator of South Korean c-store chain CU, will acquire a stake in online grocery platform Hello Nature. The acquisition... BGF is investing KRW30bn (US$28m) to acquire 50.1% stake in Hello Nature. The retailer will operate Hello Nature as a joint venture with SK Planet, who bought the company in 2016. Founded in 2012, Hello Nature is a premium online grocery delivery service of...
Leading South Korean convenience store operator, CU, is set to enter Mongolia this year. New markets via franchisees BGF Retail has signed a deal with local Mongolian retailer, Central Express, which will operate CU outlets in Mongolia. The first CU store will open in in Ulaanbaatar this year. With a young population, Mongolia offers a great opportunity for convenience store operators to th...
South Korean retailer, BGF Retail, operates the largest convenience chain in the country. We review its 2017 results and latest developments for the CU banner. Q3 results a clearer indication of CU's performance In the first nine months last year, BGF Retail posted a 13% increase in operating revenue to KRW4.22 tn, with operating profit rising 24.3% to KRW201 bn. Key categories of growth, e...

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