Homeplus news

20 March 2019
Asian private-equity firm MBK Partners withdrew a planned Homeplus property float due to weak interest. A potential US$1.5bn plan MBK was planning to spin off 51 of the South Korean retailer’s hypermarket buildings in cities including Busan and Incheon through a US$1.5bn float of a real estate investment trust (REIT). The proceeds were potentially to be used to pay off most of a hefty fi...
25 January 2019
Europe-based buying alliance EMD has announced that South Korea-based Homeplus will join the organisation. EMD said Homeplus will initially work with EMD on the ‘ sourcing of private label products ’, but noted there is scope for ‘ the option of cooperation in other areas of intercontinental cooperation ’. Homeplus to expand EMD’s global membership Following the addition of Homeplus, EMD wi...
28 June 2018
Korean hypermarket and convenience retailer, Home plus, has opened a new format Home plus Special store in Daegu. Reinventing its big-box stores Home plus first announced plans to open new warehouse stores in April. The retailer has now converted a Home plus store in Daegu to its new hybrid wholesale and hypermarket format. Home plus Special targets individual shoppers but also busines...
10 May 2018
We review the latest developments at E-Mart, Lotte, Home plus and GS Retail, the four largest food and grocery retailers in South Korea. Pepper the robot at E-Mart E-Mart is working with Japan's Softbank Robotics Corp to test 'Pepper' the robot. 'Pepper' will be stationed at an E-Mart store in Seoul for about three weeks to service shoppers in store. The 1.2m-tall robot will be able to prov...
05 April 2018
Home plus in South Korea has revealed that it will open 10 new warehouse outlet stores called 'Home plus special'. New format a hybrid of wholesale and hypermarket The new stores will be conversions of its 10 discount stores and are likely to be a hybrid format combining the best elements of a wholesale format, with that of a hypermarket. CEO Im Il-soon was clear to point out that Home plus...
17 November 2017
Many of the leading South Korean retailers are turning to ASEAN countries for expansion. We review the latest developments for Korea's five leading retailers.  THAAD may have long-lasting impact on Korean businesses Relations between South Korea and China soured when a former Lotte golf course was used as the base for US THAAD missile-defence system earlier this year. As the saga unrivalled...
08 November 2017
Homeplus has been fined KRW500 mn (US$450,000), one of the largest corporate fines in the South Korean history, after providing overstating profit forecasts to its convenience store franchisees. Deeper concerns at network level Homeplus are still recovering from overall sluggish sales, which triggered Tesco to sell its shareholdings to MBK Partners in 2015. Since 2012, total sales growth ha...